Proctor and Gamble 2015 Annual Report Download - page 60

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The Procter & Gamble Company 58
Amounts in millions of dollars except per share amounts or as otherwise specified.
The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter. There were
no transfers between levels during the periods presented. In addition, there was no significant activity within the Level 3 assets
and liabilities during the periods presented. Except for the impairment charges related to our atteries business (see Note 2), there
were no significant assets or liabilities that were re-measured at fair value on a non-recurring basis during the years ended June 30,
2015 and 2014.
Disclosures aout Deriatie Instruments
The notional amounts and fair values of qualifying and non-
qualifying financial instruments used in hedging transactions
as of June 30, 2015 and 2014 are as follows:
Years ended une 0
Notional Amount
Fair Value Asset
Liailit
2015 2014 2015 2014
DERIVATIVES IN CASH FLOW HEDGING
RELATIONSHIPS
Foreign currency
contracts 951 $ 951 12 $ 187
DERIVATIVES IN FAIR VALUE HEDGING
RELATIONSHIPS
Interest rate
contracts  ,20 $ 9,738 159 $ 168
DERIVATIVES IN NET INVESTMENT HEDGING
RELATIONSHIPS
Net investment
hedges 5 $ 831 95 $ 48
DERIVATIVES NOT DESIGNATED AS HEDGING
INSTRUMENTS
Foreign currency
contracts  ,10 $12,111 55 $ (42)
The total notional amount of contracts outstanding at the end
of the period is indicative of the level of the Company's
derivative activity during the period. The change in the
notional balance of foreign currency contracts not designated
as hedging instruments during the period reflects changes in
the level of intercompany financing activity.
Amount of GainLoss
Recognied in AOCI
on Deriaties Effectie Portion
Years ended une 0 2015 2014
DERIVATIVES IN CASH FLOW HEDGING
RELATIONSHIPS
Interest rate contracts 1 $3
Foreign currency contracts 514
TOTAL 4
$ 17
DERIVATIVES IN NET INVESTMENT HEDGING
RELATIONSHIPS
Net investment hedges 0 $ 30
During the next 12 months, the amount of the June 30, 2015,
AOCI balance that will be reclassified to earnings is expected
to be immaterial. The amounts of gains and losses included in
earnings from qualifying and non-qualifying financial
instruments used in hedging transactions for the years ended
June 30, 2015 and 2014 were as follows:
Amount of GainLoss
Reclassified from
AOCI into Earnings
Years ended une 0 2015 2014
DERIVATIVES IN CASH FLOW HEDGING
RELATIONSHIPS
Interest rate contracts 
$6
Foreign currency contracts 152 38
TOTAL 15 $ 44
Amount of GainLoss
Recognied in Earnings
Years ended une 0 2015 2014
DERIVATIVES IN FAIR VALUE HEDGING
RELATIONSHIPS
Interest rate contracts 9 $ 36
Debt 9(37)
TOTAL 
$ (1)
DERIVATIVES IN NET INVESTMENT HEDGING
RELATIONSHIPS
Net investment hedges 1 $
DERIVATIVES NOT DESIGNATED AS HEDGING
INSTRUMENTS
Foreign currency contracts (1) 9 $ 123
(1) The gain or loss on non-qualifying foreign currency contracts
substantially offsets the foreign currency mark-to-market impact
of the related exposure.