HERSHEY CO | 2013 | FY | 3

COMPREHENSIVE INCOME
A summary of the components of comprehensive income is as follows:
For the year ended December 31, 2013
 
Pre-Tax
Amount
 
Tax
(Expense)
Benefit
 
After-Tax
Amount
In thousands of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
$
820,470

 
 
 
 
 
 
 
Other comprehensive income (loss):
 
 
 
 
 
 
Foreign currency translation adjustments
 
$
(26,003
)
 
$
—

 
(26,003
)
Pension and post-retirement benefit plans
 
265,015

 
(98,612
)
 
166,403

Cash flow hedges:
 
 
 
 
 
 
Gains on cash flow hedging derivatives
 
116,329

 
(43,995
)
 
72,334

Reclassification adjustments
 
9,365

 
(3,590
)
 
5,775

 
 
 
 
 
 
 
Total other comprehensive income
 
$
364,706

 
$
(146,197
)
 
218,509

 
 
 
 
 
 
 
Comprehensive income
 
 
 
 
 
$
1,038,979

 
For the year ended December 31, 2012
 
Pre-Tax
Amount
 
Tax
(Expense)
Benefit
 
After-Tax
Amount
In thousands of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
$
660,931

 
 
 
 
 
 
 
Other comprehensive income (loss):
 
 
 
 
 
 
Foreign currency translation adjustments
 
$
7,714

 
$
—

 
7,714

Pension and post-retirement benefit plans
 
(15,159
)
 
5,525

 
(9,634
)
Cash flow hedges:
 
 
 
 
 
 
Losses on cash flow hedging derivatives
 
(543
)
 
(325
)
 
(868
)
Reclassification adjustments
 
96,993

 
(36,950
)
 
60,043

 
 
 
 
 
 
 
Total other comprehensive income
 
$
89,005

 
$
(31,750
)
 
57,255

 
 
 
 
 
 
 
Comprehensive income
 
 
 
 
 
$
718,186

 
For the year ended December 31, 2011
 
Pre-Tax
Amount
 
Tax
(Expense)
Benefit
 
After-Tax
Amount
In thousands of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
$
628,962

 
 
 
 
 
 
 
Other comprehensive income (loss):
 
 
 
 
 
 
Foreign currency translation adjustments
 
$
(21,213
)
 
$
—

 
(21,213
)
Pension and post-retirement benefit plans
 
(137,918
)
 
52,095

 
(85,823
)
Cash flow hedges:
 
 
 
 
 
 
Losses on cash flow hedging derivatives
 
(175,011
)
 
67,298

 
(107,713
)
Reclassification adjustments
 
(20,282
)
 
7,767

 
(12,515
)
 
 
 
 
 
 
 
Total other comprehensive loss
 
$
(354,424
)
 
$
127,160

 
(227,264
)
 
 
 
 
 
 
 
Comprehensive income
 
 
 
 
 
$
401,698


The components of accumulated other comprehensive loss, as shown on the Consolidated Balance Sheets, are as follows:
December 31,
 
2013
 
2012
In thousands of dollars
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
$
(16,830
)
 
$
9,173

Pension and post-retirement benefit plans, net of tax
 
(199,634
)
 
(366,037
)
Cash flow hedges, net of tax
 
49,897

 
(28,212
)
 
 
 
 
 
Total accumulated other comprehensive loss
 
$
(166,567
)
 
$
(385,076
)

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