Sunoco 2011 Annual Report Download - page 111
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The Company had open derivative contracts pertaining to 9.0 million barrels of crude oil and refined products,
240 thousand pounds of soy beans and 240 thousand MMBTUs of natural gas at December 31, 2011, which vary in
duration but generally do not extend beyond December 31, 2012.
The following table sets forth the impact of derivatives on the Company’s financial performance for the years
ended December 31, 2011, 2010 and 2009 (in millions of dollars):
Pretax Gains
(Losses)
Recognized in
Other
Comprehensive
Income*
Pretax Gains
(Losses)
Recognized in
Earnings*
Location of Gains (Losses)
Recognized in Earnings
Year Ended December 31, 2011
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ...................... $ 2 $(15) Sales and other operating revenue
Commodity contracts ...................... 12 Cost of products sold and operating expenses
$ 2 $ (3)
Derivatives not designated as hedging instruments:
Commodity contracts ...................... $ (7) Sales and other operating revenue
Commodity contracts ...................... — Cost of products sold and operating expenses
Transportation contracts .................... — Cost of products sold and operating expenses
$ (7)
Year Ended December 31, 2010
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ...................... $ (6) $35 Sales and other operating revenue
Commodity contracts ...................... (37) Cost of products sold and operating expenses
$ (6) $ (2)
Derivatives not designated as hedging instruments:
Commodity contracts ...................... $(15) Sales and other operating revenue
Commodity contracts ...................... 3 Cost of products sold and operating expenses
Transportation contracts .................... — Cost of products sold and operating expenses
$(12)
Year Ended December 31, 2009
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ...................... $(16) $ 13 Sales and other operating revenue
Commodity contracts ...................... (36) Cost of products sold and operating expenses
$(16) $(23)
Derivatives not designated as hedging instruments:
Commodity contracts ...................... $— Sales and other operating revenue
Commodity contracts ...................... (25) Cost of products sold and operating expenses
Transportation contracts .................... (1) Cost of products sold and operating expenses
$(26)
*Amounts attributable to Sunoco, Inc. shareholders.
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