Equity |
Equity Changes in equity for the three months ended December 31, 2013 and 2012 are as follows: | | | | | | | | | | | | | | Shareholders’ Equity | | Noncontrolling Interests | | Total Equity | Balance at September 30, 2013 | $ | 6,086,861 |
| | $ | 2,910 |
| | $ | 6,089,771 |
| Net income | 253,288 |
| | 116 |
| | 253,404 |
| Other comprehensive income | 49,752 |
| | 34 |
| | 49,786 |
| Dividends paid | (67,330 | ) | | — |
| | (67,330 | ) | Stock incentive plan activity | 23,395 |
| | — |
| | 23,395 |
| Shares purchased at cost | (50,740 | ) | | — |
| | (50,740 | ) | Balance at December 31, 2013 | $ | 6,295,226 |
| | $ | 3,060 |
| | $ | 6,298,286 |
| | | | | | | | Shareholders’ Equity | | Noncontrolling Interests | | Total Equity | Balance at September 30, 2012 | $ | 5,141,124 |
| | $ | 10,890 |
| | $ | 5,152,014 |
| Net income | 180,962 |
| | 152 |
| | 181,114 |
| Other comprehensive income (loss) | 94,579 |
| | (1,898 | ) | | 92,681 |
| Dividends paid | (61,236 | ) | | (727 | ) | | (61,963 | ) | Stock incentive plan activity | 17,057 |
| | — |
| | 17,057 |
| Acquisition activity | 3,231 |
| | (5,145 | ) | | (1,914 | ) | Shares purchased at cost | (50,000 | ) | | — |
| | (50,000 | ) | Balance at December 31, 2012 | $ | 5,325,717 |
| | $ | 3,272 |
| | $ | 5,328,989 |
|
7. Equity, cont'd
Changes in equity for the six months ended December 31, 2013 and 2012 are as follows: | | | | | | | | | | | | | | Shareholders’ Equity | | Noncontrolling Interests | | Total Equity | Balance at June 30, 2013 | $ | 5,738,426 |
| | $ | 3,055 |
| | $ | 5,741,481 |
| Net income | 497,604 |
| | 120 |
| | 497,724 |
| Other comprehensive income (loss) | 234,679 |
| | (115 | ) | | 234,564 |
| Dividends paid | (134,718 | ) | | — |
| | (134,718 | ) | Stock incentive plan activity | 59,235 |
| | — |
| | 59,235 |
| Shares purchased at cost | (100,000 | ) | | — |
| | (100,000 | ) | Balance at December 31, 2013 | $ | 6,295,226 |
| | $ | 3,060 |
| | $ | 6,298,286 |
| | | | | | | | Shareholders’ Equity | | Noncontrolling Interests | | Total Equity | Balance at June 30, 2012 | $ | 4,896,515 |
| | $ | 9,215 |
| | $ | 4,905,730 |
| Net income | 420,703 |
| | 359 |
| | 421,062 |
| Other comprehensive income (loss) | 228,760 |
| | (1,524 | ) | | 227,236 |
| Dividends paid | (122,601 | ) | | (727 | ) | | (123,328 | ) | Stock incentive plan activity | 56,286 |
| | — |
| | 56,286 |
| Acquisition activity | 3,231 |
| | (4,051 | ) | | (820 | ) | Shares purchased at cost | (157,177 | ) | | — |
| | (157,177 | ) | Balance at December 31, 2012 | $ | 5,325,717 |
| | $ | 3,272 |
| | $ | 5,328,989 |
|
As of July 1, 2013, the Company adopted the provisions of FASB Accounting Standards Update No. 2013-02, "Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income." As a result of this adoption, the Company has presented the significant items reclassified to net income in their entirety during the period in the table below.
Changes in accumulated other comprehensive (loss) in shareholder's equity by component: | | | | | | | | | | | | | | | | | | Foreign Currency Translation Adjustment | | Retirement Benefit Plans | | Other | | Total | Balance at June 30, 2013 | $ | (68,328 | ) | | $ | (1,039,072 | ) | | $ | (433 | ) | | $ | (1,107,833 | ) | Other comprehensive income before reclassifications | 179,955 |
| |
|
| |
|
| | 179,955 |
| Amounts reclassified from accumulated other comprehensive (loss) |
| | 54,622 |
| | 102 |
| | 54,724 |
| Balance at December 31, 2013 | $ | 111,627 |
| | $ | (984,450 | ) | | $ | (331 | ) | | $ | (873,154 | ) |
7. Equity, cont'd
Reclassifications out of accumulated other comprehensive (loss) in shareholder's equity: | | | | | | | | | | | | Details about Accumulated Other Comprehensive (Loss) Components | | Income (Expense) Reclassified from Accumulated Other Comprehensive (Loss) | | Consolidated Statement of Income Classification | | | Three Months Ended | | Six Months Ended | | | | | December 31, 2013 | | December 31, 2013 | | | Retirement benefit plans | | | | | | | Amortization of prior service cost and initial net obligation | | $ | (2,183 | ) | | $ | (5,852 | ) | | See Note 9 | Recognized actuarial loss | | (40,611 | ) | | (80,379 | ) | | See Note 9 | Total before tax | | (42,794 | ) | | (86,231 | ) | |
| Tax benefit | | 15,665 |
| | 31,609 |
| | Income taxes | Net of tax | | $ | (27,129 | ) | | $ | (54,622 | ) | |
| | | | | | | | Other | | | | | | | Realized loss on cash flow hedges | | $ | (76 | ) | | $ | (152 | ) | | Interest expense | Tax benefit | | 25 |
| | 50 |
| | Income taxes | Net of tax | | $ | (51 | ) | | $ | (102 | ) | | |
|