IBM 2013 Annual Report Download - page 106
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Notes to Consolidated Financial Statements
International Business Machines Corporation and Subsidiary Companies
105
The following tables provide a quantitative summary of the derivative and non-derivative instrument-related risk management activity as of
December 31, 2013 and 2012 as well as for the years ended December 31, 2013, 2012 and 2011, respectively.
Fair Values of Derivative Instruments in the Consolidated Statement of Financial Position
($ in millions)
Fair Value of Derivative Assets Fair Value of Derivative Liabilities
At December 31:
Balance
Sheet
Classification 2013 2012
Balance
Sheet
Classification 2013 2012
Designated as hedging instruments:
Interest rate contracts
Prepaid expenses
and other
current assets $ — $ 47
Other accrued
expenses
and liabilities $ 0 $ —
Investments and
sundry assets 308 557 Other liabilities 13 —
Foreign exchange contracts
Prepaid expenses
and other
current assets 187 135
Other accrued
expenses
and liabilities 331 267
Investments and
sundry assets 26 5
Other
liabilities 112 78
Fair value of
derivative assets $522 $744
Fair value of
derivative liabilities $ 456 $ 345
Not designated as hedging instruments:
Foreign exchange contracts
Prepaid expenses
and other
current assets $ 94 $142
Other accrued
expenses
and liabilities $ 40 $ 152
Investments and
sundry assets 67 23
Other
liabilities 1—
Equity contracts
Prepaid expenses
and other
current assets 36 9
Other accrued
expenses
and liabilities 47
Fair value of
derivative assets $197 $174
Fair value of
derivative liabilities $ 45 $ 159
Total debt designated as hedging instruments
Short-term debt N/A N/A $ 190 $ 578
Long-term debt N/A N/A $6,111 $3,035
To t a l $719 $918 $6,802 $4,116
N/A—Not applicable