Dow Chemical 2013 Annual Report Download - page 116
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94
The following table provides the fair value and gross balance sheet classification of derivative instruments at December 31,
2013 and 2012:
Fair Value of Derivative Instruments
In millions Balance Sheet Classification 2013 2012
Asset Derivatives
Derivatives designated as hedges:
Interest rates Other current assets $ — $ 1
Commodities Other current assets 13 28
Foreign currency Accounts and notes receivable – Other — 3
Total derivatives designated as hedges $ 13 $ 32
Derivatives not designated as hedges:
Commodities Other current assets $ 1 $ 3
Foreign currency Accounts and notes receivable – Other 65 52
Total derivatives not designated as hedges $ 66 $ 55
Total asset derivatives $ 79 $ 87
Liability Derivatives
Derivatives designated as hedges:
Interest rates Accounts payable – Other $ 5 $ 5
Commodities Accounts payable – Other 5 21
Foreign currency Accounts payable – Other 9 14
Total derivatives designated as hedges $ 19 $ 40
Derivatives not designated as hedges:
Interest rates Accounts payable – Other $ — $ 1
Commodities Accounts payable – Other 1 6
Foreign currency Accounts payable – Other 24 27
Total derivatives not designated as hedges $ 25 $ 34
Total liability derivatives $ 44 $ 74
Foreign currency derivatives not designated as hedges are offset by foreign exchange gains/losses resulting from the underlying
exposures of foreign currency denominated assets and liabilities. The amount charged on a pretax basis related to foreign
currency derivatives not designated as a hedge, which is included in "Sundry income (expense) - net" in the consolidated
statements of income was a gain of $89 million for 2013, loss of $9 million for 2012 and gain of $1 million for 2011.