Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Dec. 30, 2011

Comprehensive Income and Accumulated Other Comprehensive Income (Loss) [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Note C — Comprehensive Income and Accumulated Other Comprehensive Income (Loss)

Comprehensive income for the quarter and two quarters ended December 30, 2011 and December 31, 2010 was comprised of the following:

			Quarter Ended				Two Quarters Ended
			December 30,		December 31,		December 30,		December 31,
			2011		2010		2011		2010

			(In millions)
Net income			$	132.3	$	151.1	$	253.4	$	315.0
Other comprehensive income (loss):
	Foreign currency translation			(11.6)		5.0		(51.0)		15.5
	Net unrealized gain (loss) on hedging derivatives, net of income taxes			0.2		0.3		0.6		(0.1)
	Net unrealized gain (loss) on securities available-for-sale, net of income
		taxes		(0.1)		1.0		0.3		0.1
	Amortization of loss on treasury lock, net of income taxes			0.2		0.1		0.3		0.3
	Recognition of pension actuarial losses in net income, net of income
		taxes		1.0		1.4		2.2		1.5
Total comprehensive income				122.0		158.9		205.8		332.3
Comprehensive loss attributable to noncontrolling interests				0.8		―		1.3		―
Total comprehensive income attributable to Harris Corporation			$	122.8	$	158.9	$	207.1	$	332.3

The components of accumulated other comprehensive income (loss) at December 30, 2011 and July 1, 2011 were as follows:

	December 30,		July 1,
	2011		2011

	(In millions)
Foreign currency translation	$	(0.2)	$	50.8
Net unrealized gain (loss) on hedging derivatives, net of income taxes		0.5		(0.1)
Net unrealized gain on securities available-for-sale, net of income taxes		1.4		1.1
Unamortized loss on treasury lock, net of income taxes		(3.2)		(3.5)
Unrecognized pension obligations, net of income taxes		(27.4)		(29.6)
	$	(28.9)	$	18.7

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

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