Black & Decker 2014 Annual Report Download - page 92

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78
Year-to-Date 2014 Year-to-Date 2013
Income Statement
Classification
Amount
Recorded in
OCI
Gain (Loss)
Effective Portion
Recorded
in Income
Statement
Ineffective
Portion*
Recorded in
Income
Statement
Amount
Recorded in
OCI
Gain (Loss)
Effective Portion
Recorded
in Income
Statement
Ineffective
Portion*
Recorded in
Income
Statement
Other-net ............................ $ 64.0 $ — $ — $(21.8)$ — $ —
*Includes ineffective portion and amount excluded from effectiveness testing.
UNDESIGNATED HEDGES
Foreign Exchange Contracts: Currency swaps and foreign exchange forward contracts are used to reduce risks arising from the
change in fair value of certain foreign currency denominated assets and liabilities (such as affiliate loans, payables and receivables).
The objective of these practices is to minimize the impact of foreign currency fluctuations on operating results. The total notional
amount of the contracts outstanding at January 3, 2015 was $1.9 billion of forward contracts maturing on various dates through
2015. As of January 3, 2015, there were no currency swaps as the Company terminated its currency swap in July 2014, resulting
in a cash payment of $0.5 million. The total notional amount of the contracts outstanding at December 28, 2013 was $2.2 billion
of forward contracts and $107.7 million in currency swaps, maturing on various dates through 2014. The income statement impacts
related to derivatives not designated as hedging instruments for 2014 and 2013 are as follows (in millions):
Derivatives Not
Designated as Hedging
Instruments under ASC 815
Income Statement
Classification
Year-to-Date 2014
Amount of Gain (Loss)
Recorded in Income on
Derivative
Year-to-Date 2013
Amount of Gain (Loss)
Recorded in Income on
Derivative
Foreign Exchange Contracts............................................ Other-net $(75.1)$ 39.6
J. CAPITAL STOCK
EARNINGS PER SHARE — The following table reconciles net earnings attributable to common shareowners and the
weighted average shares outstanding used to calculate basic and diluted earnings per share for the fiscal years ended January 3,
2015, December 28, 2013, and December 29, 2012.