XML 19 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Comprehensive Income (Loss)
 6 Months Ended
Apr. 01, 2012
Comprehensive Income (Loss) [Abstract]  
Comprehensive Income (Loss)

(2) Comprehensive Income (Loss)

Comprehensive income (loss) and the components of other comprehensive income (loss), net of tax, for the three and six month periods ended April 1, 2012 and April 3, 2011 are as follows:

 

                                 
    Three Months     Six Months  
    2012     2011     2012     2011  

Net income (loss)

   $ (190 )    $ (84,785 )    $ 45,323     $ (113,846 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss):

                                

Consumer Products and Other:

                                

Foreign currency translation

     18,539       23,944       3,610       19,870  

Net unrealized gain (loss) on derivative instruments

     (701 )      (7,244 )      1,117       (3,065 ) 

Actuarial adjustments to pension plans

     235       —         544       —    

Deferred tax valuation allowance adjustments

     (554 )      433       (251 )      1,076  
   

 

 

    

 

 

    

 

 

    

 

 

  
      17,519       17,133       5,020       17,881  
   

 

 

    

 

 

    

 

 

    

 

 

  

Insurance and Financial Services:

                                

Unrealized investment gains (losses):

                                

Changes in unrealized investment gains before reclassification adjustment

     209,992       —         286,263       —    

Net reclassification adjustment for gains included in net income

     (64,631 )      —         (133,738 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Changes in unrealized investment gains after reclassification adjustment

     145,361       —         152,525       —    

Adjustments to intangible assets

     (36,575 )      —         (31,273 )      —    

Changes in deferred income tax asset/liability

     (38,075 )      —         (42,483 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net unrealized gain on investments

     70,711       —         78,769       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Non-credit related other-than-temporary impairment:

                                

Changes in non-credit related other-than-temporary impairment

     (688 )      —         (1,611 )      —    

Adjustments to intangible assets

     231       —         603       —    

Changes in deferred income tax asset/liability

     160       —         353       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net non-credit related other than-temporary impairment

     (297 )      —         (655 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net change to derive comprehensive income (loss) for the period

     87,933       17,133       83,134       17,881  
   

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

     87,743       (67,652 )      128,457       (95,965 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Less: Comprehensive income (loss) attributable to the noncontrolling interest:

                                

Net loss

     (12,210 )      (22,835 )      (6,160 )      (31,826 ) 

Other comprehensive income

     7,460       7,796       1,670       8,136  
   

 

 

    

 

 

    

 

 

    

 

 

  
      (4,750 )      (15,039 )      (4,490 )      (23,690 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income (loss) attributable to the controlling interest

   $ 92,493     $ (52,613 )    $ 132,947     $ (72,275 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

 

Net gains or losses resulting from the translation of assets and liabilities of foreign subsidiaries are accumulated, net of taxes and noncontrolling interest, in the “Accumulated other comprehensive income” (“AOCI”) section of HGI’s stockholders’ equity. Also included are the effects of exchange rate changes on intercompany balances of a long-term nature.

The changes in accumulated foreign currency translation for the three and six month periods ended April 1, 2012 and April 3, 2011 were primarily attributable to the impact of translation of the net assets of the Company’s European and Latin American operations, which primarily have functional currencies in Euros, Pounds Sterling and Brazilian Real.

Net unrealized gains and losses on investment securities classified as available-for-sale are reduced by deferred income taxes and adjustments to intangible assets, including value of business acquired (“VOBA”) and deferred policy acquisition costs (“DAC”), that would have resulted had such gains and losses been realized. Changes in net unrealized gains and losses on investment securities classified as available-for-sale are recognized in other comprehensive income and loss. See Note 6 for additional disclosures regarding VOBA and DAC.