Booz Allen Hamilton Holding Corp
For the period ended Dec 31, 2023. Filed Jan 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Jan 26, 2024
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12. Accumulated Other Comprehensive Income
- Accumulated Other Comprehensive Income
All amounts recorded in other comprehensive income are related to the Company's post-retirement plans and interest rate swaps designated as cash flow hedges. The following table shows the changes in accumulated other comprehensive loss, net of tax:
| Three Months Ended December 31, 2023 | Nine Months Ended December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| Post-retirement plans | Derivatives designated as cash flow hedges | Totals | Post-retirement plans | Derivatives designated as cash flow hedges | Totals | |
| Beginning of period | $18,684 | $13,208 | $31,892 | $19,450 | $9,883 | $29,333 |
| Other comprehensive income (loss) before reclassifications(1) | — | (3,165) | (3,165) | — | 5,535 | 5,535 |
| Amounts reclassified from accumulated other comprehensive income | (383) | (2,841) | (3,224) | (1,149) | (8,216) | (9,365) |
| Net current-period other comprehensive loss | (383) | (6,006) | (6,389) | (1,149) | (2,681) | (3,830) |
| End of period | $18,301 | $7,202 | $25,503 | $18,301 | $7,202 | $25,503 |
(1) Changes in other comprehensive income before reclassification for derivatives designated as cash flow hedges are recorded net of tax benefit (expense)of $1.1 million and $(2.0) million for the three and nine months ended December 31, 2023, respectively. The tax impact of other comprehensive income before reclassification for post-retirement plans for the three and nine months ended December 31, 2023 was immaterial.
| Three Months Ended December 31, 2022 | Nine Months Ended December 31, 2022 | |||||
|---|---|---|---|---|---|---|
| Post-retirement plans | Derivatives designated as cash flow hedges | Totals | Post-retirement plans | Derivatives designated as cash flow hedges | Totals | |
| Beginning of period | $8,807 | $13,334 | $22,141 | $8,811 | $(226) | $8,585 |
| Other comprehensive income before reclassifications(2) | 2 | 1,155 | 1,157 | — | 12,337 | 12,337 |
| Amounts reclassified from accumulated other comprehensive income (loss) | (2) | (1,217) | (1,219) | (4) | 1,161 | 1,157 |
| Net current-period other comprehensive (loss) income | — | (62) | (62) | (4) | 13,498 | 13,494 |
| End of period | $8,807 | $13,272 | $22,079 | $8,807 | $13,272 | $22,079 |
(2)Changes in other comprehensive income before reclassification for derivatives designated as cash flow hedges are recorded net of tax expense of $0.4 million and $4.4 million for the three and nine months ended December 31, 2022. The tax impact of other comprehensive income before reclassification for post-retirement plans for the three and nine months ended December 31, 2022 was immaterial.
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