PBI » Topics » 12. Comprehensive (Loss) Income

This excerpt taken from the PBI 10-Q filed Nov 7, 2008.

12. Comprehensive (Loss) Income

Comprehensive (loss) income for the three and nine months ended September 30, 2008 and 2007 are as follows:

    Three Months Ended   Nine Months Ended  
    September 30,   September 30,  
      2008       2007     2008       2007  
Net income   $ 98,229     $ 127,675   $ 345,841     $ 424,710  
Other comprehensive (loss) income, net of tax:                              
   Foreign currency translation adjustments (1)     (144,453 )     88,978     (106,340 )     159,282  
   Amortization of retiree benefit costs     3,505       6,382     10,636       16,665  
    Net unrealized loss on investment securities     (178 )     -     (253 )     -  
    Net unrealized gain (loss) on derivatives     (614 )      1,826     189       (787 )
Comprehensive (loss) income   $ (43,511 )    $ 224,861   $ 250,073     $ 599,870  

(1) Includes a net deferred translation loss of $13.7 million and a net gain of $2.3 million for the three months ended September 30, 2008 and 2007, respectively. For the nine months ended September 30, 2008 and 2007, a net loss of $3.7 million and a net gain of $15.3 million, respectively, were recorded. These amounts are associated with inter-company loans denominated in a foreign currency that have been designated as a hedge of net investment.

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