MURPHY OIL CORP /DE | 2013 | FY | 3


Note O – Accumulated Other Comprehensive Income

The components of Accumulated Other Comprehensive Income (AOCI) on the Consolidated Balance Sheets at December 31, 2013 and December 31, 2012 and the changes during 2013 are presented net of taxes in the following table.

 

(Thousands of dollars)

   Foreign
Currency
Translation
Gains (Losses)1
    Retirement and
Postretirement
Benefit Plan
Adjustments1
    Deferred
Loss on
Interest
Rate
Derivative
Hedges1
    Total1  

Balance at December 31, 2012

   $ 613,492        (186,539     (18,052     408,901   

Components of other comprehensive income (loss):

        

Before reclassifications to income

     (240,300     59,145        0        (181,155

Reclassifications to income

     (68,000 )2      10,438 3      1,935 4      55,627   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net other comprehensive income (loss)

     (308,300     69,583        1,935        (236,782
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2013

   $ 305,192        (116,956     (16,117     172,119   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

1 

All amounts are presented net of income taxes.

2 

Reclassification is included in income from discontinued operations, net of income taxes.

3 

Reclassifications before taxes of $18,570 are included in the computation of net periodic benefit expense. Related income taxes of $8,132 are included in Income tax expense.

4 

Reclassifications before taxes of $2,963 are included in Interest expense. Related income taxes of $1,028 for the year ended December 31, 2013 are included in Income tax expense.

 

At December 31, 2013, the net foreign currency translation gain of $305,192,000 was primarily related to exploration and production operations in Canada.


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