Hitachi 2009 Annual Report Download - page 86

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Ineffective portion and amount excluded from effectiveness test
Derivatives Location Millions of yen
Thousands of
U.S. dollars
Forward exchange contracts Other deductions . . . . . . . . . . . . . . . . . . . ¥ 227 $ 2,316
Cross currency swap agreements Other deductions . . . . . . . . . . . . . . . . . . . (2,065) (21,071)
Interest rate swaps Interest charges . . . . . . . . . . . . . . . . . . . . (58) (592)
¥(1,896) $(19,347)
The following tables, “Gain (loss) recognized in OCI, Effective portion of derivatives designated as hedging instruments,” “Gain
(loss) reclassified from AOCI into consolidated statement of operations, Effective portion of derivatives designated as hedging
instruments” and “Gain (loss) on derivatives designated as cash flow hedging instruments, Ineffective portion and amount
excluded from effectiveness test” show the effect of derivative instruments for cash flow hedges on the consolidated statement
of operations for the quarter ended March 31, 2009:
Gain (loss) recognized in OCI
Effective portion of derivatives designated as hedging instruments
Derivatives Millions of yen
Thousands of
U.S. dollars
Forward exchange contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 638 $ 6,510
Cross currency swap agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,685) (17,194)
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,025) (10,459)
Option contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 82
¥(2,064) $(21,061)
Gain (loss) reclassified from AOCI into consolidated statement of operations
Effective portion of derivatives designated as hedging instruments
Derivatives Location Millions of yen
Thousands of
U.S. dollars
Forward exchange contracts Other deductions . . . . . . . . . . . . . . . . . . . ¥(1,623) $(16,561)
Cross currency swap agreements Other deductions . . . . . . . . . . . . . . . . . . . (1,080) (11,020)
Interest rate swaps Interest income . . . . . . . . . . . . . . . . . . . . 830 8,469
Option contracts Other deductions . . . . . . . . . . . . . . . . . . . (1,492) (15,225)
¥(3,365) $(34,337)
Gain (loss) on derivatives designated as cash flow hedging instruments
Ineffective portion and amount excluded from effectiveness test
Derivatives Location Millions of yen
Thousands of
U.S. dollars
Forward exchange contracts Other deductions . . . . . . . . . . . . . . . . . . . ¥(1,598) $(16,306)
Cross currency swap agreements Other deductions . . . . . . . . . . . . . . . . . . . (358) (3,653)
Interest rate swaps Interest income . . . . . . . . . . . . . . . . . . . . 120 1,224
¥(1,836) $(18,735)
26. CONCENTRATIONS OF CREDIT RISK
The Company and its subsidiaries generally do not have significant concentrations of credit risk to any counterparties nor any
regions because they are diversified and spread globally.
84 Hitachi, Ltd.
Annual Report 2009