Energizer 2014 Annual Report Download - page 89

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ENERGIZER HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions, except per share)
The following table provides estimated fair values as of September 30, 2014 and 2013, and the amounts of gains and losses on
derivative instruments not classified as cash flow hedges as of and for the twelve months ended September 30, 2014 and 2013,
respectively.
At September 30, 2014
For the Year Ended
September 30, 2014
Derivatives not designated as Cash Flow Hedging Relationships
Estimated Fair Value Asset
(Liability)
Gain/(Loss) Recognized in
Income (1)
Share option $ 5.6 $ 12.3
Foreign currency contracts 3.3 4.2
Total $ 8.9 $ 16.5
At September 30, 2013
For the Year Ended
September 30, 2013
Derivatives not designated as Cash Flow Hedging Relationships
Estimated Fair Value Asset
(Liability)
Gain/(Loss) Recognized in
Income (1)
Share option $ 7.7 $ 15.5
Commodity contracts (2) — (1.9)
Foreign currency contracts (3.2) 4.9
Total $ 4.5 $ 18.5
(1) Gain/(Loss) recognized in Income was recorded as follows: Share option in Selling, general and administrative expense and foreign currency and
commodity contracts in other financing item, net.
(2) The Company discontinued the zinc hedging program in fiscal 2013. The final settlement of outstanding zinc contracts resulted in a loss of $1.9 for the
year ended September 30, 2013.
The Company has the following recognized financial assets and financial liabilities resulting from those transactions that meet
the scope of the disclosure requirements as necessitated by applicable accounting guidance for balance sheet offsetting:
Offsetting of derivative assets
At September 30, 2014 At September 30, 2013
Description
Balance Sheet
location
Gross amounts
of recognized
assets
Gross amounts
offset in the
Balance Sheet
Net amounts of
assets
presented in
the Balance
Sheet
Gross amounts
of recognized
assets
Gross amounts
offset in the
Balance Sheet
Net amounts of
assets
presented in
the Balance
Sheet
Foreign Currency
Contracts
Other Current
Assets, Other
Assets $ 19.8 $ (0.4) $ 19.4 $ 7.3 $ (0.6) $ 6.7
Offsetting of derivative liabilities
At September 30, 2014 At September 30, 2013
Description
Balance Sheet
location
Gross amounts
of recognized
liabilities
Gross amounts
offset in the
Balance Sheet
Net amounts of
liabilities
presented in
the Balance
Sheet
Gross amounts
of recognized
liabilities
Gross amounts
offset in the
Balance Sheet
Net amounts of
liabilities
presented in
the Balance
Sheet
Foreign Currency
Contracts
Other Current
Liabilities, Other
Liabilities $ (1.8) $ 0.2 $ (1.6) $ 8.6 $ (0.2) $ 8.4
The net amounts of derivative assets and liabilities are reconciled to the individual line item amounts presented in the
Consolidated Balance Sheet.
85