HP 2010 Annual Report Download - page 121

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 10: Financial Instruments (Continued)
Effect of Derivative Instruments on the Consolidated Statements of Earnings
The before-tax effect of a derivative instrument and related hedged item in a fair value hedging
relationship for fiscal years ended October 31, 2010 and October 31, 2009 was as follows:
Gain (Loss) Recognized in Income on Derivative and Related Hedged Item
Derivative Instrument Location 2010 Hedged Item Location 2010
In millions In millions
Interest rate contracts ............. Interest and $316 Fixed-rate debt Interest and $(299)
other, net other, net
Gain (Loss) Recognized in Income on Derivative and Related Hedged Item
Derivative Instrument Location 2009 Hedged Item Location 2009
In millions In millions
Interest rate contracts ............. Interest and $232 Fixed-rate debt Interest and $(236)
other, net other, net
113