SOUTHWESTERN ENERGY CO | 2013 | FY | 3


 

 

(6) RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME

 

The following tables detail the components of accumulated other comprehensive income, amounts reclassified from accumulated other comprehensive income into earnings and the related tax effects for the year ended December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended

 

 

December 31, 2013

 

 

Gains and Losses on Cash Flow Hedges

 

 

Pension and Other Postretirement

 

 

Foreign Currency

 

 

Total

 

 

(in thousands) (1)

Beginning balance, December 31, 2012

 

$

172,166 

 

 

$

(22,311)

 

 

$

(51)

 

 

$

149,804 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

21,619 

 

 

 

–  

 

 

 

(4,003)

 

 

 

17,616 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified (2)

 

 

(184,515)

 

 

 

12,753 

 

 

 

–  

 

 

 

(171,762)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net current-period other comprehensive income (loss)

 

 

(162,896)

 

 

 

12,753 

 

 

 

(4,003)

 

 

 

(154,146)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, December 31, 2013

 

$

9,270 

 

 

$

(9,558)

 

 

$

(4,054)

 

 

$

(4,342)

 

(1)

All amounts are net of tax.

(2)

See separate table below for details about these reclassifications.

 

 

 

 

 

 

 

Details about Accumulated Other Comprehensive Income

 

Consolidated Statement of Operations Classification

 

 

 

 

 

 

(in thousands)

Gains (losses) on cash flow hedges

 

 

 

 

Settlements

 

Gas sales

$

309,177 

Ineffectiveness

 

Gas sales

 

(1,652)

 

 

Income before income taxes

 

307,525 

 

 

Provision for income taxes

 

123,010 

 

 

Net income

$

184,515 

 

 

 

 

 

Pension and other postretirement

 

 

 

 

Amortization of prior service cost included in

  net periodic pension cost (1)

 

General and administrative expenses

$

(21,009)

 

 

Loss before income taxes

 

(21,009)

 

 

Benefit for income taxes

 

(8,256)

 

 

Net loss

$

(12,753)

 

 

 

 

 

Total reclassifications for the period

 

Net income

$

171,762 

 

(1)

Included in the computation of net periodic pension cost (see Note 12 for additional details).


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