| 10. | Other Comprehensive Income (Loss) |
The following table sets forth the components of “Other comprehensive income (loss)” and the related income tax effects thereon for the three years ended December 31, 2013 and the cumulative balances in AOCGL by component at December 31, 2013, 2012 and 2011.
| Unrealized Gain (Loss) on | ||||||||||||
| Derivative Financial Instruments |
Marketable Securities |
Total AOCGL |
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| (In thousands) | ||||||||||||
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Balance at January 1, 2011 |
$ | 2,733 | $ | 408 | $ | 3,141 | ||||||
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Unrealized gain (loss) before reclassifications, after tax of $337 and $15 |
(625 | ) | (46 | ) | (671 | ) | ||||||
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Reclassification adjustments for items included in Net Income, after tax of $3,623 and $205 |
(6,728 | ) | (384 | ) | (7,112 | ) | ||||||
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Total other comprehensive income (loss) |
(7,353 | ) | (430 | ) | (7,783 | ) | ||||||
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Balance at December 31, 2011 |
(4,620 | ) | (22 | ) | (4,642 | ) | ||||||
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Unrealized gain (loss) before reclassifications, after tax of $(2,282) and $(28) |
4,237 | 124 | 4,361 | |||||||||
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Reclassification adjustments for items included in Net Income, after tax of $(1,472) and $(1) |
2,733 | 44 | 2,777 | |||||||||
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Total other comprehensive income (loss) |
6,970 | 168 | 7,138 | |||||||||
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Balance at December 31, 2012 |
2,350 | 146 | 2,496 | |||||||||
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Unrealized gain (loss) before reclassifications, after tax of $3,682 and $18 |
(6,833 | ) | (6 | ) | (6,839 | ) | ||||||
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Reclassification adjustments for items included in Net Income, after tax of $(2,608) and $18 |
4,840 | (147 | ) | 4,693 | ||||||||
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Total other comprehensive income (loss) |
(1,993 | ) | (153 | ) | (2,146 | ) | ||||||
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Balance at December 31, 2013 |
$ | 357 | $ | (7 | ) | $ | 350 | |||||
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The following table presents the line items in our Consolidated Statements of Operations affected by reclassification adjustments out of AOCGL.
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Major Components of AOCGL |
Year Ended December 31, | Consolidated Statements of Operations Line Items |
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| 2013 | 2012 | 2011 | ||||||||||||
| (In thousands) | ||||||||||||||
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Derivative financial instruments: Unrealized (gain) loss on FOREX contracts |
$ | (7,449 | ) | $ | (4,205 | ) | $ | 10,351 | Contract drilling, excluding depreciation |
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Unrealized loss (gain) on Treasury Lock Agreements |
1 | — | — | Interest expense | ||||||||||
| 2,608 | 1,472 | (3,623 | ) | Income tax expense | ||||||||||
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| $ | (4,840 | ) | $ | (2,733 | ) | $ | 6,728 | Net of tax | ||||||
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Marketable securities: Unrealized (gain) loss on marketable securities |
$ | 165 | $ | (45 | ) | $ | 589 | Other, net | ||||||
| (18 | ) | 1 | (205 | ) | Income tax expense | |||||||||
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| $ | 147 | $ | (44 | ) | $ | 384 | Net of tax | |||||||