Note 21 Other comprehensive income

The following table includes amounts recorded within “Total other comprehensive income (loss)” including the related income tax effects.

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2013

2012

2011

($ in millions)

Before
tax

Tax
effect

Net
of tax

Before
tax

Tax
effect

Net
of tax

Before
tax

Tax
effect

Net
of tax

Foreign currency translation adjustments:

 

 

 

 

 

 

 

 

 

Net change during the year

133

8

141

389

(6)

383

(280)

5

(275)

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

Net unrealized gains (losses) arising during the year

(4)

(4)

5

(2)

3

(2)

(1)

(3)

Reclassification adjustments for net (gains) losses included in net income

(14)

1

(13)

1

1

3

2

5

Net change during the year

(18)

1

(17)

6

(2)

4

1

1

2

 

 

 

 

 

 

 

 

 

 

Pension and other postretirement plans:

 

 

 

 

 

 

 

 

 

Prior service (costs) credits arising during the year

(20)

4

(16)

(42)

6

(36)

(35)

12

(23)

Net actuarial gains (losses) arising during the year

423

(132)

291

(846)

245

(601)

(750)

157

(593)

Amortization of prior service cost included in net income

25

(2)

23

33

(3)

30

35

(13)

22

Amortization of net actuarial loss included in net income

140

(41)

99

102

(32)

70

55

(11)

44

Amortization of transition liability included in net income

1

1

 

 

 

 

 

 

 

 

 

 

Net change during the year

568

(171)

397

(753)

216

(537)

(694)

145

(549)

 

 

 

 

 

 

 

 

 

 

Cash flow hedge derivatives:

 

 

 

 

 

 

 

 

 

Net gains (losses) arising during the year

33

(5)

28

74

(21)

53

(21)

2

(19)

Reclassification adjustments for net (gains) losses included in net income

(54)

11

(43)

(42)

14

(28)

(88)

27

(61)

Net change during the year

(21)

6

(15)

32

(7)

25

(109)

29

(80)

 

 

 

 

 

 

 

 

 

 

Total other comprehensive income (loss)

662

(156)

506

(326)

201

(125)

(1,082)

180

(902)

The following table shows changes in “Accumulated other comprehensive loss” (OCI) attributable to ABB, by component, net of tax:

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($ in millions)

Foreign currency translation adjustments

Unrealized gains (losses) on available-for-sale securities

Pension and other post- retirement plan adjustments

Unrealized gains (losses) of cash flow hedge derivatives

Total OCI

Balance at January 1, 2013

(580)

24

(2,004)

37

(2,523)

Other comprehensive (loss) income before reclassifications

141

(4)

275

28

440

Amounts reclassified from OCI

(13)

122

(43)

66

Total other comprehensive (loss) income

141

(17)

397

(15)

506

 

 

 

 

 

 

Less:

 

 

 

 

 

Amounts attributable to noncontrolling interests

(8)

3

(5)

Balance at December 31, 2013

(431)

7

(1,610)

22

(2,012)

The following table reflects amounts reclassified out of OCI in respect of Pension and other postretirement plan adjustments and Unrealized gains (losses) of cash flow hedge derivatives:

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Details about OCI components, ($ in millions)

Location of (gains) losses reclassified from OCI

2013

(1)

These components are included in the computation of net periodic benefit cost (see Note 17).

(2)

SG&A expenses represent “Selling, general and administrative expenses”.

Pension and other postretirement plan adjustments:

 

 

Amortization of prior service costs

Net periodic benefit cost(1)

25

Amortization of net actuarial losses

Net periodic benefit cost(1)

140

Total before tax

 

165

Tax

Provision for taxes

(43)

Amounts reclassified from OCI

 

122

 

 

 

Unrealized gains (losses) of cash flow hedge derivatives:

 

 

Foreign exchange contracts

Total revenues

(52)

 

Total cost of sales

1

Commodity contracts

Total cost of sales

5

Cash-settled call options

SG&A expenses(2)

(8)

Total before tax

 

(54)

Tax

Provision for taxes

11

Amounts reclassified from OCI

 

(43)

The amounts reclassified out of OCI in respect of Unrealized gains (losses) on available-for-sale securities were not significant in 2013.