Verizon Communications Inc. reported the following in its 2016 statement of shareholders' equity.
Required:
a. In general, what is "Accumulated other comprehensive income (loss)"?
b. Explain each of the following components of Verizon's accumulated other comprehensive income account:
• Foreign currency translation adjustment
• Unrealized losses on marketable securities
• Defined benefit pension and postretirement plans
c. If the U.S. $ weakens in 2017 vis-à-vis the foreign currency of Verizon's foreign subsidiaries, what will be the effect on the foreign currency translation adjustment?

Question

Verizon Communications Inc. reported the following in its 2016 statement of shareholders' equity. 
  Required: 
a. In general, what is "Accumulated other comprehensive income (loss)"?
b. Explain each of the following components of Verizon's accumulated other comprehensive income account:
• Foreign currency translation adjustment
• Unrealized losses on marketable securities
• Defined benefit pension and postretirement plans
c. If the U.S. $ weakens in 2017 vis-à-vis the foreign currency of Verizon's foreign subsidiaries, what will be the effect on the foreign currency translation adjustment?

Quizplus · Accepted Answer

The Answer of Verizon Communications Inc. reported the following in its 2016 statement of shareholders' equity. 
  Required: 
a. In general, what is "Accumulated other comprehensive income (loss)"?
b. Explain each of the following components of Verizon's accumulated other comprehensive income account:
• Foreign currency translation adjustment
• Unrealized losses on marketable securities
• Defined benefit pension and postretirement plans
c. If the U.S. $ weakens in 2017 vis-à-vis the foreign currency of Verizon's foreign subsidiaries, what will be the effect on the foreign currency translation adjustment?