Starwood 2010 Annual Report Download - page 157
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Balance Sheet
Location
Fair
Value
Balance Sheet
Location
Fair
Value
December 31, 2010 December 31, 2009
Derivatives not designated as
hedging instruments
Asset Derivatives
Forward contracts . . . . . . . . . Prepaid and other current assets $— Prepaid and other current assets $—
Total assets . . . . . . . . . . $— $—
Liability Derivatives
Forward contracts . . . . . . . . . Accrued expenses $ 9 Accrued expenses $ 7
Total liabilities . . . . . . . . . $ 9 $ 7
Consolidated Statements of Income and Comprehensive Income
For the Years Ended December 31, 2010 and 2009
(In millions)
Balance at December 31, 2008 ................................................ $(6)
Mark-to-market gain on forward exchange contracts .............................. —
Reclassification of gain from OCI to management fees, franchise fees, and other income . . . 6
Balance at December 31, 2009 ................................................ $—
Balance at December 31, 2009 ................................................ $—
Mark-to-market loss on forward exchange contracts ............................... 1
Reclassification of loss from OCI to management fees, franchise fees, and other income .... (1)
Balance at December 31, 2010 ................................................ $—
Derivatives Not Designated as Hedging
Instruments
Location of Gain or (Loss) Recognized
in Income on Derivative 2010 2009 2008
Year Ended
December 31,
Amount of Gain or
(Loss) Recognized in
Income on Derivative
Foreign forward exchange contracts ..... Interest expense, net $(45) $(15) $14
Total (loss) gain included in income ..... $(45) $(15) $14
F-41
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
NOTES TO FINANCIAL STATEMENTS — (Continued)