The Gap 2010 Annual Report Download - page 62

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Quantitative Disclosures about Derivative Financial Instruments
The fair values of asset and liability derivative financial instruments are as follows:
January 29, 2011
Asset Derivatives Liability Derivatives
($ in millions) Balance Sheet Location Fair
Value Balance Sheet Location Fair
Value
Derivatives designated as cash flow hedges:
Foreign exchange forward contracts ........ Othercurrent assets $—
Accrued expenses and
other current
liabilities $30
Foreign exchange forward contracts ........ Otherlong-termassets 2
Lease incentives and
other long-term
liabilities 2
Total derivatives designated as cash flow
hedges................................. 232
Derivatives designated as net investment hedges:
Foreign exchange forward contracts ........ Othercurrent assets —
Accrued expenses and
other current
liabilities —
Foreign exchange forward contracts ........ Otherlong-termassets —
Lease incentives and
other long-term
liabilities —
Total derivatives designated as net
investmenthedges...................... ——
Derivatives not designated as hedging
instruments:
Foreign exchange forward contracts ........ Othercurrent assets 2
Accrued expenses and
other current
liabilities 5
Foreign exchange forward contracts ........ Otherlong-termassets —
Lease incentives and
other long-term
liabilities —
Total derivatives not designated as hedging
instruments ............................ 25
Totalderivativeinstruments .................... $4 $37
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