Sara Lee 2009 Annual Report Download - page 77

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Sara Lee Corporation and Subsidiaries 75
Information on the location and amounts of derivative gains
and losses in the Consolidated Statements of Income for the year
ended June 27, 2009 is as follows:
At June 27, 2009 the maximum maturity date of any cash flow
hedge was approximately four years principally related to two cross
currency swaps that mature in 2012 and 2013. The corporation
expects to reclassify into earnings during the next twelve months
net losses from Accumulated Other Comprehensive Income of
approximately $2 at the time the underlying hedged transaction
is recognized in the Consolidated Statement of Income.
Gain or (Loss) Recognized Gain or (Loss) Recognized
in Income on Derivatives in Income on Hedged Item
Location Amount Location Amount
Fair Value Derivatives
Interest rate contracts Interest income $29 Interest expense $(17)
Selling, general and Selling, general and
Foreign exchange contracts administrative expenses 13 administrative expenses (8)
Total $42 $(25)
Gain (Loss) Recognized
Gain (Loss) Recognized Gain (Loss) Reclassified in Income on Derivative
in OCI on Derivative from Accumulated OCI (ineffective portion and amount
(effective portion) into Income (effective portion) excluded from effectiveness testing)
Amount Location Amount Location Amount
Cash Flow Derivatives
Interest rate contracts $÷«4 N/A $÷«– N/A $÷«–
Selling, general and
Foreign exchange contracts 24 administrative expenses 62 Interest expense (10)
Selling, general and
Commodity contracts (25) Cost of sales (17) administrative expenses (2)
Total $÷«3 $«45 $(12)
Gain (Loss) Recognized
Gain (Loss) Recognized Gain (Loss) Reclassified in Income on Derivative
in OCI on Derivative from Accumulated OCI (ineffective portion and amount
(effective portion) into Income (effective portion) excluded from effectiveness testing)
Amount Location Amount Location Amount
Net Investment Derivatives
Foreign exchange contracts $407 N/A $«– N/A $«–
Total $407 $«– $«–
Gain (Loss) Recognized
in Income on Derivative
Location Amount
Derivatives Not Designated as Hedging
Instruments under Statement 133
Foreign exchange contracts Cost of sales $÷÷(3)
Selling, general and
Foreign exchange contracts administrative expenses (138)
Commodity contracts Cost of sales (29)
Selling, general and
Commodity contracts administrative expenses (29)
Total $(199)