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Income Tax Considerations
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We have ignored the income tax effects of the amounts in order to focus on the core issues. Note, though, that as gains and losses occur, they are reported net of tax (tax expense for a gain, tax savings for a loss) in the statement of comprehensive income.20 Likewise, accumulated other comprehensive income in the balance sheet also is reported net of tax.

Other comprehensive income items are reported net of tax, both in the (a) statement of comprehensive income and (b) accumulated other comprehensive income.

20 Similarly, if any new prior service cost should arise due to a plan amendment, it too would be reported net of tax.






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