The following tables set forth the changes in the accumulated balances for each component of AOCL, net of tax, for the nine months ended September 30, 2014 and 2013.


	Gains / (Losses) on Cash Flow Hedges⁽¹⁾			Defined Benefit Pension Items⁽²⁾			Foreign Currency Items			Total
Balance at December 31, 2012	$	—		$	(95,071	)	$	(20,378	)	$	(115,449	)

Activity during period:
Other comprehensive income (loss) before reclassifications		(1,029	)		—			(658	)		(1,687	)
Amounts reclassified from AOCL		1,618			4,935			—			6,553

Net other comprehensive income (loss)		589			4,935			(658	)		4,866

Balance at September 30, 2013	$	589		$	(90,136	)	$	(21,036	)	$	(110,583	)



Balance at December 31, 2013	$	—		$	(58,598	)	$	(23,566	)	$	(82,164	)

Activity during period:
Other comprehensive income before reclassifications		4,358			—			1,143			5,501
Amounts reclassified from AOCL		(4,631	)		1,048			—			(3,583	)

Net other comprehensive income (loss)		(273	)		1,048			1,143			1,918

Spin-Off of Paragon Offshore⁽³⁾		—			21,772			12,706			34,478

Balance at September 30, 2014	$	(273	)	$	(35,778	)	$	(9,717	)	$	(45,768	)

(1)	Gains on cash flow hedges are related to our foreign currency forward contracts. Reclassifications from AOCL are recognized through “contract drilling services” expense on our Consolidated Statements of Income. See Note 12 for additional information.

(2)

Defined benefit pension items relate to actuarial losses, the amortization of prior service costs and curtailment and settlement expenses. Reclassifications from AOCL are recognized as expense on our Consolidated Statements of Income through either “contract drilling services” or “general and administrative”. See Note 11 for additional information.

(3)	Reclassifications for the Spin-Off of Paragon Offshore represent accumulated balances in AOCL that were transferred as part of the Spin-Off.