Oracle 2009 Annual Report Download - page 121
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Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2010
The effects of derivative instruments on our consolidated financial statements were as follows as of or for each of the respective periods presented below
(amounts presented exclude any income tax effects):
Fair Value of Derivative Instruments in Consolidated Balance Sheets
May 31, 2010 May 31, 2009
(in millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value
Interest rate swap agreement designated as cash flow hedge Not applicable $ — Other current liabilities $ 35
Interest rate swap agreements designated as fair value hedges Other assets $ 33 Not applicable $ —
Foreign currency forward contracts not designated as hedges
Prepaid expenses and
other current assets $ — Other current liabilities $ —
Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI)
Amount of Gain (Loss)
Recognized in Accumulated
OCI on Derivative
(Effective Portion)
Location and Amount of Gain (Loss)
Reclassified from Accumulated OCI into
Income (Effective Portion)
Location and Amount of Gain (Loss)
Recognized in Income on Derivative
(Ineffective Portion and Amount Excluded
from Effectiveness Testing)
Year Ended May 31,
Year Ended May 31,
Year Ended May 31,
(in millions) 2010 2009 2010 2009 2010 2009
Cash flow hedges:
Interest rate swap $ — $ 3
Interest
expense $ (41) $ (47)
Non operating
income
(expense), net $ — $ —
Net investment hedges:
Foreign currency forward
contract $ (37) $ (63)
Not
applicable $ — $ —
Non-operating
income
(expense), net $ 1 $ 10
Location and Amount of Gain (Loss)
Recognized in Income on Derivative
Location and Amount of Gain (Loss) on
Hedged Item Recognized in Income
Attributable to Risk Being Hedged
(in millions)
Year Ended
May 31, 2010
Year Ended
May 31, 2010
Fair value hedges:
Interest rate swaps Interest expense $ 33 Interest expense $ (33)
Location and Amount of Gain (Loss)
Recognized in Income on Derivative
Year Ended May 31,
(in millions) 2010 2009
Derivatives not designated as hedges:
Foreign currency forward contracts
Non-operating
income
(expense), net $ (35) $ 3
117
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠