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Method 1: Freeze prior period OCI and reclassify
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Method 2: Include intra-period activity
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20X6
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20X7
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20X6
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20X7
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Net income
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$500
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$550
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$500
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$550
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Unrealized gain on debt securities
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30
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0
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30
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20
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Less: reclassification adjustment
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(30)
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(50)
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OCI
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30
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(30)
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30
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(30)
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Comprehensive income
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$530
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$520
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$530
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$520
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Reclassifications out of AOCI |
Codification reference |
Section |
Realized gains and losses on derivative instruments that qualify as cash flow hedges |
ASC 815-30-35-38 through ASC 815-30-35-41 |
FSP 19.5.4.2, DG 12.4.4.1, DG 12.4.4.3 |
The difference between the initial value of an "excluded component" of the hedging instrument in a cash flow or fair value hedge and the current fair value of such component, to the extent recognized in earnings |
DG 12.4.4.1, DG 12.4.4.3 |
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Gains and losses on net investment hedges reclassified from cumulative translation adjustment to earnings |
DG 12.4.4.4 |
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Pension and other postretirement benefits items amortized into net income |
ASC 715-30-35-24 (pension) ASC 715-60-35-29 (OPEB) |
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Changes in fair value attributable to instrument-specific credit risk of liabilities for which the fair value option is elected |
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Presentation of reclassifications out of AOCI |
Requirements of presentation |
Parenthetically on the face of the financial statement in which net income is presented
This presentation election can only be made if the two requirements outlined in FSP 4.5.5 are met.
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Within a single footnote
A reporting entity can elect this option or may be required to follow this guidance if the requirements outlined in FSP 4.5.5 are not met.
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