Delta Airlines 2012 Annual Report Download - page 74

Hedge Position as of
December 31, 2012
Hedge Position as of
December 31, 2011
Hedge Gains (Losses)
Gains (losses) related to our designated hedge contracts, including those previously designated as accounting hedges, are as follows:
67
(in millions) Notional Balance
Final Maturity
Date
Prepaid
Expenses and
Other Assets
Other
Noncurrent
Assets
Other
Accrued
Liabilities
Other
Noncurrent
Liabilities
Hedge
Derivatives,
net
Designated as hedges
Interest rate contracts (cash
flow hedges)
$
740
U.S. dollars May 2019
$
—
$
—
$
(
22
)
$
(48
)
$
(70
)
Interest rate contracts (fair
value hedges)
$
469
U.S. dollars August 2022
—
6
(2
)
—
4
Foreign currency exchange
contracts
119,277
Japanese yen December
2015
62
63
(1
)
(1
)
123
430
Canadian dollars
Not designated as hedges
Fuel hedge contracts
1,792
gallons - heating oil, crude
oil and jet fuel December 2013
511
—
(
262
)
—
249
Total derivative contracts
$
573
$
69
$
(287
)
$
(49
)
$
306
(in millions) Notional Balance Final Maturity Date
Prepaid
Expenses and
Other Assets
Other
Noncurrent
Assets
Other
Accrued
Liabilities
Other
Noncurrent
Liabilities
Hedge
Derivatives,
net
Designated as hedges
Interest rate contracts (cash
flow hedges)
$
989
U.S. dollars May 2019
$
—
$
—
$
(
27
)
$
(57
)
$
(84
)
Interest rate contracts (fair
value hedges)
$
500
U.S. dollars August 2022
—
—
—
(
7
)
(7
)
Foreign currency exchange
contracts
126,993
Japanese yen April 2014
7
5
(58
)
(43
)
(89
)
313
Canadian dollars
Not designated as hedges
Fuel hedge contracts
1,225
gallons - heating oil, crude
oil, jet fuel and diesel December 2012
570
—
(
500
)
—
70
Total derivative contracts
$
577
$
5
$
(585
)
$
(107
)
$
(110
)
Effective Portion Reclassified from AOCI to
Earnings
Effective Portion Recognized in Other
Comprehensive Income (Loss)
Year Ended December 31,
(in millions) 2012 2011 2010
2012 2011 2010
Fuel hedge contracts
$
15
$
233
$
(87
)
$
(15
)
$
(166
)
$
153
Interest rate contracts
(5
)
—
(
5
)
14
(8
)
(28
)
Foreign currency exchange contracts
(25
)
(61
)
(31
)
212
7
(73
)
Total designated
$
(15
)
$
172
$
(123
)
$
211
$
(167
)
$
52