XML 64 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
Comprehensive Income
 6 Months Ended
Mar. 28, 2015
Comprehensive Income

Note 8 – Comprehensive Income

Comprehensive income consists of two components, net income and OCI. OCI refers to revenue, expenses, and gains and losses that under GAAP are recorded as an element of shareholders’ equity but are excluded from net income. The Company’s OCI consists of foreign currency translation adjustments from those subsidiaries not using the U.S. dollar as their functional currency, net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges and unrealized gains and losses on marketable securities classified as available-for-sale.

The following table shows the pre-tax amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, for the three- and six-month periods ended March 28, 2015 and March 29, 2014 (in millions):

 

                                                                                    
         Three Months Ended      Six Months Ended  

Comprehensive Income Components

  

Financial Statement

Line Item

    March 28,
2015		      March 29,
2014		      March 28,
2015		      March 29,
2014		  

Unrealized (gains)/losses on derivative instruments:

              

Foreign exchange contracts

   Revenue    $ (558 )     $ 119       $ (1,007 )     $ 303   
  Cost of sales      (608 )       (141 )       (921 )       (251 ) 
  Other income/(expense), net      (1 )       4         (1 )       14   

Interest rate contracts

   Other income/(expense), net      353         4         452         8   
    

 

 

     

 

 

     

 

 

     

 

 

  
  (814 )    (14 )    (1,477 )    74   

Unrealized (gains)/losses on marketable securities

 Other income/(expense), net   56      (60 )    34      (77 ) 
    

 

 

     

 

 

     

 

 

     

 

 

  

Total amounts reclassified from AOCI

 $ (758 )  $ (74 )  $ (1,443 )  $ (3 ) 
    

 

 

     

 

 

     

 

 

     

 

 

  

 

The following table shows the changes in AOCI by component for the six months ended March 28, 2015 (in millions):

 

                                                                                                   
     Cumulative
Foreign
Currency
Translation		      Unrealized
Gains/Losses
on Derivative
Instruments		      Unrealized
Gains/Losses
on Marketable
Securities		      Total  

Balance at September 27, 2014

    $ (242 )     $ 1,364       $ (40 )     $ 1,082   
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive income/(loss) before reclassifications

   (365 )    3,548      200      3,383   

Amounts reclassified from AOCI

   0      (1,477 )    34      (1,443 ) 

Tax effect

   119      (356 )    (75 )    (312 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Other comprehensive income/(loss)

   (246 )    1,715      159      1,628   
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at March 28, 2015

 $ (488 )  $ 3,079    $ 119    $ 2,710