Oracle 2009 Annual Report Download - page 208
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amounts of the foreign currency forward contracts we held to purchase European Euros in exchange for other
major international currencies were €142 million ($198 million).
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
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠