Oracle 2008 Annual Report Download - page 110

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Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2009
The effects of derivative instruments on our consolidated financial statements were as follows as of May 31,
2009 and for the year then ended (amounts presented exclude any income tax effects):
Fair Value of Derivative Instruments in Consolidated Balance Sheet
May 31, 2009
(in millions) Balance Sheet Location Fair Value
Interest rate swap agreement designated as cash flow
hedges Other current liabilities $ 35
Foreign currency forward contracts designated as net
investment hedges Other current liabilities —
Total derivatives designated as hedging instruments $ 35
Foreign currency forward contracts not designated as
hedges Other current liabilities $ —
Total derivatives $ 35
Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI)
Location and Amount of
Amount of Gain Location and Amount of Gain (Loss) Recognized in Income
(Loss) Recognized in Gain (Loss) Reclassified on Derivative
Accumulated OCI on from Accumulated OCI (Ineffective Portion and
Derivative into Income Amount Excluded
(Effective Portion) (Effective Portion) from Effectiveness Testing)
Year Ended Year Ended Year Ended
(in millions) May 31, 2009 May 31, 2009 May 31, 2009
Cash flow
hedges:
Interest rate
swaps $ 3 Interest Expense $ (47)
Non-operating
Income, net $ —
Net
investment
hedges:
Foreign
currency
forward
contracts $ (63) Not Applicable $ —
Non-operating
Income, net $ 10
Location and Amount of Gain (Loss)
Recognized in Income on Derivative
Year Ended
(in millions) May 31, 2009
Derivatives Not Designated as Hedges:
Foreign currency forward contracts Non-operating Income, net $ 3
102
Source: ORACLE CORP, 10-K, June 29, 2009 Powered by Morningstar® Document Research℠