Telus 2010 Annual Report Download - page 141

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TELUS 2010 annual report . 137
FINANCIAL STATEMENTS & NOTES: 5
(i) Recognition of derivative gains and losses
The following table sets out the gains and losses, excluding tax effects, on derivative instruments classified as cash flow hedging items and their
location within the Consolidated Statements of Income and Other Comprehensive Income.
Amount of gain (loss) recognized Gain (loss) reclassified from other comprehensive
in other comprehensive income income into income (effective portion) (Note 19(b))
(effective portion) (Note 19(b)) Amount
Years ended December 31 (millions) 2010 2009 Location 2010 2009
Derivatives used to manage currency risks
– Associated with U.S. dollar denominated debt(1) $ß 9 $ß(259) Financing costs $ß(59) $ß(357)
– Arising from U.S. dollar denominated purchases (1) (6) Operations – 1
Derivatives used to manage changes in share-based
compensation costs (Note 12(c)) 7 1 Operations – (6)
$ß15 $ß(264) $ß(59) $ß(362)
(1) Including amounts arising from settlement of financial instruments used to manage the foreign exchange risk associated with redeemed U.S. dollar denominated debt (Note 8).
The following table sets out gains and losses arising from derivative instruments: that are classified as held for trading items; that are not designated
as being in a hedging relationship; and their location within the Consolidated Statements of Income and Other Comprehensive Income.
Gain (loss) recognized in income on derivatives
Years ended December 31 (millions) Location 2010 2009
Derivatives used to manage currency risks Financing costs $ – $ß (13)
Derivatives used to manage changes in share-based compensation costs (Note 12(b)) Operations 24 (4)
$ 24 $ß (17)