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Comprehensive Income | 12 Months Ended
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Dec. 30, 2017
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract] |
Comprehensive Income | Note 7 – Comprehensive Income Comprehensive income includes certain gains and losses that, under U.S. GAAP, are excluded from net income as such amounts are recorded directly as an adjustment to stockholders’ equity. Our comprehensive income is primarily comprised of net income, foreign currency translation gain (loss), unrealized gain (loss) on foreign currency hedging activities, unrealized investment gain (loss) and pension adjustment gain (loss). The following table summarizes our Accumulate d other comprehensive income, net of applicable taxes as of:
|  |  |  | December 30, |  | December 31, |  | December 26,
|  |  |  | 2017 |  | 2016 |  | 2015
Attributable to Redeemable noncontrolling interests: |  |  |  |  |  |  |  |  |
|  | Foreign currency translation adjustment |  | $ | (5,564) |  | $ | (13,025) |  | $ | (10,373)
Attributable to noncontrolling interests: |  |  |  |  |  |  |  |  |
|  | Foreign currency translation adjustment |  | $ | 539 |  | $ | (113) |  | $ | (76)
Attributable to Henry Schein, Inc.: |  |  |  |  |  |  |  |  |
| Foreign currency translation loss |  | $ | (112,439) |  | $ | (296,212) |  | $ | (200,499)
| Unrealized gain (loss) from foreign currency hedging activities |  |  | (782) |  |  | (53) |  |  | 939
| Unrealized investment loss |  |  | (3) |  |  | - |  |  | (2)
| Pension adjustment loss |  |  | (16,843) |  |  | (20,776) |  |  | (20,377)
|  | Accumulated other comprehensive loss |  | $ | (130,067) |  | $ | (317,041) |  | $ | (219,939)
Total Accumulated other comprehensive loss |  | $ | (135,092) |  | $ | (330,179) |  | $ | (230,388)
The following table summarizes the components of comprehensive income, net of applicable taxes as follows:
|  | December 30, |  | December 31, |  | December 26,
|  | 2017 |  | 2016 |  | 2015
Net income |  | $ | 459,293 |  | $ | 556,395 |  | $ | 523,427
Foreign currency translation gain (loss) |  |  | 191,886 |  |  | (98,402) |  |  | (134,035)
Tax effect |  |  | - |  |  | - |  |  | -
Foreign currency translation gain (loss) |  |  | 191,886 |  |  | (98,402) |  |  | (134,035)
Unrealized gain (loss) from foreign currency hedging activities |  |  | (1,515) |  |  | (1,025) |  |  | 2,147
Tax effect |  |  | 786 |  |  | 33 |  |  | (153)
Unrealized gain (loss) from foreign currency hedging activities |  |  | (729) |  |  | (992) |  |  | 1,994
Unrealized investment gain (loss) |  |  | (4) |  |  | 2 |  |  | 134
Tax effect |  |  | 1 |  |  | - |  |  | -
Unrealized investment gain (loss) |  |  | (3) |  |  | 2 |  |  | 134
Pension adjustment gain (loss) |  |  | 4,247 |  |  | (947) |  |  | 3,278
Tax effect |  |  | (314) |  |  | 548 |  |  | (1,008)
Pension adjustment gain (loss) |  |  | 3,933 |  |  | (399) |  |  | 2,270
Comprehensive income |  | $ | 654,380 |  | $ | 456,604 |  | $ | 393,790
During the years ended December 30, 2017, December 31, 2016 and December 26, 2015, we recognized, as a component of our comprehensive income, a foreign currency translation gain (loss) of $191.9 million, $(98.4) million and $(134.0) million, respectively, due to changes in foreign exchange rates from the beginning of the period to the end of the period. Our financial statements are denominated in the U.S. Dollar currency. Fluctuations in the value of foreign currencies as compared to the U.S. Dollar may have a significant impact on our comprehensive income. The foreign currency translation gain (loss) during the years ended December 30, 2017, December 31, 2016 and December 26, 2015 was impacted by changes in foreign currency exchange rates as follows:
|  |  | Foreign Currency |  |  |  |
|  |  | Translation |  |  |  |
|  |  | Gain (Loss) |  |  |  |
|  |  | for the |  |  |  |
|  |  | Year Ended |  | FX Rate in USD
|  |  | December 30, |  | December 30, |  | December 31,
Currency |  | 2017 |  | 2017 |  | 2016
Euro |  | $ | 113,259 |  | 1.20 |  | 1.05
British Pound |  |  | 28,001 |  | 1.35 |  | 1.23
Australian Dollar |  |  | 15,124 |  | 0.78 |  | 0.72
Canadian Dollar |  |  | 9,403 |  | 0.80 |  | 0.74
Polish Zloty |  |  | 11,058 |  | 0.29 |  | 0.24
Swiss Franc |  |  | 5,544 |  | 1.03 |  | 0.98
Brazilian Real |  |  | (2,411) |  | 0.30 |  | 0.31
All other currencies |  |  | 11,908 |  |  |  |
| Total |  | $ | 191,886 |  |  |  |
|  |  | Foreign Currency |  |  |  |
|  |  | Translation |  |  |  |
|  |  | Gain (Loss) |  |  |  |
|  |  | for the |  |  |  |
|  |  | Year Ended |  | FX Rate in USD
|  |  | December 31, |  | December 31, |  | December 26,
Currency |  | 2016 |  | 2016 |  | 2015
British Pound |  | $ | (53,723) |  | 1.23 |  | 1.49
Euro |  |  | (41,245) |  | 1.05 |  | 1.10
Polish Zloty |  |  | (3,849) |  | 0.24 |  | 0.26
Canadian Dollar |  |  | 3,345 |  | 0.74 |  | 0.72
Brazilian Real |  |  | 2,856 |  | 0.31 |  | 0.25
Swiss Franc |  |  | (2,365) |  | 0.98 |  | 1.01
Australian Dollar |  |  | (562) |  | 0.72 |  | 0.73
All other currencies |  |  | (2,859) |  |  |  |
| Total |  | $ | (98,402) |  |  |  |
|  |  | Foreign Currency |  |  |  |
|  |  | Translation |  |  |  |
|  |  | Gain (Loss) |  |  |  |
|  |  | for the |  |  |  |
|  |  | Year Ended |  | FX Rate in USD
|  |  | December 26, |  | December 26, |  | December 27,
Currency |  | 2015 |  | 2015 |  | 2014
Euro |  | $ | (76,754) |  | 1.10 |  | 1.22
Australian Dollar |  |  | (19,864) |  | 0.73 |  | 0.81
British Pound |  |  | (15,404) |  | 1.49 |  | 1.56
Canadian Dollar |  |  | (10,071) |  | 0.72 |  | 0.86
Brazilian Real |  |  | (5,942) |  | 0.25 |  | 0.37
Polish Zloty |  |  | (3,281) |  | 0.26 |  | 0.28
Swiss Franc |  |  | 928 |  | 1.01 |  | 1.01
All other currencies |  |  | (3,647) |  |  |  |
| Total |  | $ | (134,035) |  |  |  |
The following table summarizes our total comprehensive income, net of applicable taxes as follows:
|  |  | December 30, |  | December 31, |  | December 26,
|  |  | 2017 |  | 2016 |  | 2015
Comprehensive income attributable to |  |  |  |  |  |  |  |  |
| Henry Schein, Inc. |  | $ | 593,273 |  | $ | 409,676 |  | $ | 354,251
Comprehensive income attributable to |  |  |  |  |  |  |  |  |
| noncontrolling interests |  |  | 1,443 |  |  | 820 |  |  | 741
Comprehensive income attributable to |  |  |  |  |  |  |  |  |
| Redeemable noncontrolling interests |  |  | 59,664 |  |  | 46,108 |  |  | 38,798
Comprehensive income |  | $ | 654,380 |  | $ | 456,604 |  | $ | 393,790

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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