JCP » Topics » Comprehensive Income/(Loss)

These excerpts taken from the JCP 10-K filed Mar 31, 2009.

Comprehensive Income/(Loss)

Comprehensive income/(loss) consists of two components: net income and other comprehensive income/(loss). For all years presented, other comprehensive income/(loss) includes unrealized net actuarial gains/(losses) from pension and other postretirement benefit plans, and unrealized gains/(losses) on investments. On February 3, 2008, the opening balance of other comprehensive income/(loss) was adjusted for the SFAS 158 measurement date provision from the prior measurement date of October 31, 2007. Beginning in 2007, other comprehensive income/(loss) reflects gain or loss and prior service cost arising during the period and reclassification adjustments for amounts being recognized as components of net periodic pension/postretirement cost during the period, all net of tax. For years prior to 2007, other comprehensive income/(loss) also included non-qualified plan minimum liability adjustments, net of tax. However, as reflected on the Consolidated Statements of Stockholders’ Equity, the February 3, 2007 balance of accumulated other comprehensive income/(loss) was adjusted to reflect the recognition provisions of SFAS 158, which resulted in the reversal of the additional minimum liability and the recognition of net actuarial losses and prior service costs not yet included in periodic pension/postretirement cost, net of tax. See the Retirement-Related Benefits accounting policy on page F-13 and Note 15 for further discussion regarding the measurement date provision adjustments.

Comprehensive
Income/(Loss)

Comprehensive income/(loss) consists of two components: net income and other comprehensive income/(loss). For all years presented,
other comprehensive income/(loss) includes unrealized net actuarial gains/(losses) from pension and other postretirement benefit plans, and unrealized gains/(losses) on investments. On February 3, 2008, the opening balance of other
comprehensive income/(loss) was adjusted for the SFAS 158 measurement date provision from the prior measurement date of October 31, 2007. Beginning in 2007, other comprehensive income/(loss) reflects gain or loss and prior service cost arising
during the period and reclassification adjustments for amounts being recognized as components of net periodic pension/postretirement cost during the period, all net of tax. For years prior to 2007, other comprehensive income/(loss) also included
non-qualified plan minimum liability adjustments, net of tax. However, as reflected on the Consolidated Statements of Stockholders’ Equity, the February 3, 2007 balance of accumulated other comprehensive income/(loss) was adjusted to
reflect the recognition provisions of SFAS 158, which resulted in the reversal of the additional minimum liability and the recognition of net actuarial losses and prior service costs not yet included in periodic pension/postretirement cost, net of
tax. See the Retirement-Related Benefits accounting policy on page F-13 and Note 15 for further discussion regarding the measurement date provision adjustments.

SIZE="3">Cash and Cash Equivalents

Cash and cash equivalents were $2,352 million and $2,532 million for year-end 2008 and year-end 2007,
respectively. All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. Cash equivalents consist primarily of short-term U.S. Treasury money market funds and a portfolio of highly rated
bank deposits and are stated at cost, which approximates fair market value due to the short-term maturity. There are no restricted investment balances at year-end 2008. Cash and cash equivalents include restricted balances of $49 million at year-end
2007. At year-end 2007, restricted balances contained pledged collateral for a portion of casualty insurance program liabilities. Cash and cash equivalents also includes credit card sales transactions that are settled early in the following period.
Refer to Reclassifications on page F-8 for a description of the 2008 reclassification of these transactions to cash and cash equivalents.

 


F-11







Table of Contents


This excerpt taken from the JCP 10-K filed Apr 6, 2006.

Comprehensive Income/(Loss)

Comprehensive Income/(Loss) consists of two components: net income/(loss) and other comprehensive income/(loss). Other comprehensive income/(loss) is the sum of currency translation adjustments, unrealized gains/(losses) on investments, non-qualified plan minimum liability

 

F-13


Table of Contents
Index to Financial Statements

adjustments and any other comprehensive income/(loss) related to discontinued operations. Comprehensive Income/(Loss) and its components are presented in the Consolidated Statements of Stockholders’ Equity.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki