Archer Daniels Midland 2009 Annual Report Download - page 58

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52
Notes to Consolidated Financial Statements (Continued)
Note 4.
Inventories, Derivative Instruments & Hedging Activities (Continued)
The following table sets forth the fair value of derivatives designated as hedging instruments under SFAS 133 as of
June 30, 2009.
Assets
Liabilities
(in millions)
Interest Contracts
$ 10
$ 0
Commodity Contracts
5
2
Total
$ 15
$ 2
The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments under
SFAS 133 that have been included in the consolidated statement of earnings for the six months ended June 30,
2009, following adoption of SFAS 161:
Consolidated Statement of
Earnings Location
Amount
(in millions)
FX Contracts
Effective amount recognized in earnings
Other income (expense) – net
$ (1)
Commodity Contracts
Effective amount recognized in earnings
Cost of products sold
(293)
Net sales and other operating income
16
Ineffective amount recognized in earnings
Cost of products sold
(9)
Total amount recognized in earnings
$ (287)
Archer Daniels Midland Company