Citrix 2009 Annual Report Download - page 121

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CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
exchange rates when remeasuring the Company’s balance sheet, it utilizes foreign exchange forward contracts to
hedge its exposure to this potential volatility. There were no assets or liabilities related to derivatives not
designated as hedges as of December 31, 2009 and 2008.
Fair Values of Derivative Instruments
Asset Derivatives Liability Derivatives
(In thousands)
December 31, 2009 December 31, 2008 December 31, 2009 December 31, 2008
Derivatives Designated as
Hedging Instruments
Balance Sheet
Location
Fair
Value
Balance Sheet
Location
Fair
Value
Balance Sheet
Location
Fair
Value
Balance Sheet
Location
Fair
Value
Foreign currency
forward contracts . .
Prepaid
and other
current
assets $ 8,981
Prepaid
and other
current
assets $ 23,308
Accrued
expenses
and other
current
liabilities $ 4,141
Accrued
expenses
and other
current
liabilities $ 27,630
The Effect of Derivative Instruments on Financial Performance
For the Year ended December 31,
(In thousands)
Derivatives in Cash Flow
Hedging Relationships
Amount of Gain (Loss)
Recognized in Other
Comprehensive Income
(Effective Portion)
Location of Gain (Loss) Reclassified
from Accumulated Other
Comprehensive Income
(Loss) into Income
(Effective Portion)
Amount of Gain (Loss)
Reclassified from
Accumulated Other
Comprehensive Loss
(Effective Portion)
2009 2008 2009 2008
Foreign currency forward
contracts ................. $7,295 $(8,416) Operating expenses $(152) $(8,815)
There was no material ineffectiveness in the Company’s foreign currency hedging program in the periods
presented.
For the Year ended December 31,
(In thousands)
Derivatives Not Designated as Hedging Instruments
Location of (Loss)
Gain Recognized in Income
on Derivative
Amount of (Loss)
Gain Recognized in Income
on Derivative
2009 2008
Foreign currency forward contracts ................ Other income (expense), net $(2,572) $3,740
F-41