Google 2013 Annual Report Download - page 67

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
PART II
ITEM8.NotestoConsolidatedFinancialStatements
Theeectofderivativeinstrumentsnotdesignatedashedginginstrumentsonincomeissummarizedbelow(inmillions):
Derivatives Not Designated
As Hedging Instruments
Gains (Losses) Recognized in Income on Derivatives
Year Ended December31,
Location 2011 2012 2013
Foreignexchangecontracts Interestandotherincome,net $29 $(67) $118
Interestratecontracts Interestandotherincome,net (19) (6) 4
Total $10 $(73) $122

Wepresentourderivatives,securitieslendingandreverserepurchaseagreementsatgrossfairvaluesintheConsolidated
BalanceSheets.However,ourmasternettingandothersimilararrangementsallownetsettlementsundercertainconditions.As
ofDecember31,2012andDecember31,2013,informationrelatedtotheseosettingarrangementswasasfollows(inmillions):

Description
Balance as of December31, 2012
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Assets
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Received
Non-Cash
Collateral
Received
Net
Assets
Exposed
Derivatives $ 178 $0$178 $(4)(1) $(40) $(12) $122
Reverserepurchaseagreements 1,629 0 1,629(2) 0 0 (1,629) 0
Total $1,807 $0$1,807 $(4) $(40) $(1,641) $122
Description
Balance as of December31, 2013
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Assets
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Received
Non-Cash
Collateral
Received
Net
Assets
Exposed
Derivatives $ 232 $0$232 $(2)(1) $(35) $(52) $143
Reverserepurchaseagreements 1,370 0 1,370(2) 0 0 (1,370) 0
Total $1,602 $0$1,602 $(2) $(35) $(1,422) $143
(1) ThebalancesatDecember31,2012andDecember31,2013wererelatedtoderivativeliabilitieswhichareallowedtobenetsettledagainst
derivativeassetsinaccordancewithourmasternettingagreements.
(2) ThebalancesatDecember31,2012andDecember31,2013included$929millionand$1,270millionrecordedincashandcashequivalents,
respectively,and$700millionand$100millionrecordedinreceivableunderreverserepurchaseagreements,respectively.

Description
Balance as of December31, 2012
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Liabilities
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Pledged
Non-Cash
Collateral
Pledged
Net
Liabilities
Derivatives $ 7$0$7$(4)(3) $0$0 $3
Securitieslendingagreements 1,673 0 1,673 0 0 (1,673) 0
Total $1,680 $0$1,680 $(4) $0$(1,673) $3
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