Comprehensive Income

12 Months Ended

Apr. 02, 2011

Note 13. Comprehensive Income

Comprehensive income is defined as the change in equity of a company during a period from transactions and other events and circumstances from nonowner sources. The difference between net income and comprehensive income for the Company results from unrealized gains (losses) on its available-for-sale securities, net of taxes, foreign currency translation adjustments and hedging transactions.

The components of comprehensive income are as follows:


(In thousands)	2011			2010			2009
Net income	$	641,875		$	357,484		$	361,719
Net change in unrealized gains (losses) on available-for-sale securities, net of tax		5,975			14,996			(13,268	)
Reclassification adjustment for gains on available-for-sale securities, net of tax, included in net income		(2,438	)		(240	)		(1,620	)
Net change in unrealized gain (loss) on hedging transactions, net of tax		6,776			(541	)		(2,039	)
Net change in cumulative translation adjustment		1,425			3,422			(7,735	)

Comprehensive income	$	653,613		$	375,121		$	337,057

The components of accumulated other comprehensive income (loss) as of fiscal year-ends are as follows:


	April 2,		April 3,
(In thousands)	2011		2010
Accumulated unrealized gains (losses) on available-for-sale securities, net of tax	$	2,819	$	(718	)
Accumulated unrealized gains (losses) on hedging transactions, net of tax		5,223		(1,553	)
Accumulated cumulative translation adjustment		2,475		1,050

Accumulated other comprehensive income (loss)	$	10,517	$	(1,221	)

- 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.

+ References+ Details