NOTE 17—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Accumulated other comprehensive income (loss) is presented in stockholders’ equity in the Consolidated Statements of Financial Position and is comprised of amounts related to foreign currency translation adjustments and amounts related to the Company’s cash flow hedges.
The following table presents changes in accumulated other comprehensive income (loss), net of tax, by the following components for the periods indicated:
| Foreign Currency Translation Adjustments |
Cash Flow Hedges |
Accumulated Other Comprehensive Income |
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| (in millions) | ||||||||||||
| Successor |
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| Balances at January 31, 2014 |
$ | (28 | ) | $ | 1 | $ | (27 | ) | ||||
| Other comprehensive income before reclassifications |
(192 | ) | 427 | 235 | ||||||||
| Amounts reclassified from accumulated other comprehensive income |
— | (179 | ) | (179 | ) | |||||||
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| Total change for the period |
(192 | ) | 248 | 56 | ||||||||
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| Balances at January 30, 2015 |
$ | (220 | ) | $ | 249 | $ | 29 | |||||
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| Balances at January 30, 2015 |
$ | (220 | ) | $ | 249 | $ | 29 | |||||
| Other comprehensive income before reclassifications |
(138 | ) | 152 | 14 | ||||||||
| Amounts reclassified from accumulated other comprehensive income |
— | (367 | ) | (367 | ) | |||||||
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| Total change for the period |
(138 | ) | (215 | ) | (353 | ) | ||||||
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| Balances at January 29, 2016 |
$ | (358 | ) | $ | 34 | $ | (324 | ) | ||||
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Amounts related to the Company’s cash flow hedges are reclassified to net income during the same period in which the items being hedged are recognized in earnings. In addition, any hedge ineffectiveness related to cash flow hedges is recognized currently in net income. See Note 7 of the Notes to the Audited Consolidated Financial Statements for more information on the Company’s derivative instruments. The following table presents gains and (losses) reclassified from accumulated other comprehensive loss, net of tax, to net income (loss) for the respective periods:
| Successor | ||||||||||||||||
| Fiscal Year Ended January 29, 2016 |
Fiscal Year Ended January 30, 2015 |
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| Cash Flow Hedges |
Total Reclassifications, net of tax |
Cash Flow Hedges |
Total Reclassifications, net of tax |
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| (in millions) | ||||||||||||||||
| Net Revenue |
$ | 328 | $ | 328 | $ | 163 | $ | 163 | ||||||||
| Cost of net revenue |
40 | 40 | 15 | 15 | ||||||||||||
| Interest and other, net |
(1 | ) | (1 | ) | 1 | 1 | ||||||||||
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| Total |
$ | 367 | $ | 367 | $ | 179 | $ | 179 | ||||||||
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- F-63 -
DENALI HOLDING INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS
