Question: Refer to Apple’s statement of comprehensive
Refer to Apple’s statement of comprehensive income in Appendix A. What is the amount of foreign currency translation adjustment for the year ended September 28, 2013? Is this adjustment an unrealized gain or an unrealized loss?
Apple’s Statement of Comprehensive Income from Appendix A:
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Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 29, 2012 September 24, September 28, 2013 Years ended 2011 Net income $ 37,037 $ 41,733 $ 25,922 Other comprehensive income/(loss): Change in foreign currency translation, net of tax effects of $35, $13 and $18, respectively (112) (15) (12) Change in unrecognized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(351), $73 and $(50),respectively Adjustment for net losses/(gains) realized and included in net income, net of tax expense/(benefit) of $255, $220 and $(250), respectively 522 (131) 92 (458) (399) 450 Total change in unrecognized gains/losses on derivative instruments, net of tax 64 (530) 542 Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit/(expense) of $458, $(421) and $17, respectively (791) 715 29 Adjustment for net losses/(gains) realized and included in net income, net of tax expense/(benefit) of $82, $68 and $(40), respectively (131) (114) (70) (922) (970) Total change in unrealized gains/losses on marketable securities, net of tax 601 (41) Total other comprehensive income/(loss) 56 489 Total comprehensive income $ 36,067 $ 41,789 $ 26,411 See accompanying Notes to Consolidated Financial Statements.
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