Dollar General 2014 Annual Report Download - page 120
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10-K
related market activity, and thus require the use of significant judgment and estimates. Currently, we
have no assets or liabilities that are valued based solely on Level 3 inputs.
Our fair value measurements are primarily associated with our derivative financial instruments,
intangible assets, debt instruments, and to a lesser degree our investments. We use various valuation
models in determining the values of these assets and liabilities. The application of these models
involves assumptions such as discounted cash flow analysis and interest rate curves that are judgmental
and highly sensitive in the fair value computations. In recent years, these methodologies have produced
materially accurate valuations.
Derivative Financial Instruments. In addition to estimating the fair value of derivatives as discussed
above, we also bear the risk that certain derivative instruments that have been designated as hedges
and currently meet the strict hedge accounting requirements may not qualify in the future as ‘‘highly
effective,’’ as defined, as well as the risk that hedged transactions in cash flow hedging relationships
may no longer be considered probable to occur. If hedge accounting were disallowed it could cause
greater volatility in our results of operations. Further, new regulations, accounting standards, and
related interpretations pertaining to these instruments may be issued in the future, and we cannot
predict the possible impact that such requirements may have on our use of derivative instruments.
46