DELPHI 2012 Annual Report Download - page 121
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99
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of December 31, 2012
and December 31, 2011 are as follows:
Asset Derivatives Liability Derivatives
Balance Sheet Location December 31,
2012 Balance Sheet Location December 31,
2012
(in millions)
Designated derivatives instruments:
Commodity derivatives............. Other Current Assets $ 2 Accrued Liabilities $ 7
Foreign currency derivatives*... Other Current Assets 24 Other Current Assets 5
Foreign currency derivatives*... Accrued Liabilities — Accrued Liabilities 5
Commodity derivatives............. Other Long-Term Assets 1 Other Long-Term Liabilities 1
Foreign currency derivatives*... Other Long-Term Assets 7 Other Long-Term Assets 2
Total................................... $ 34 $ 20
Derivatives not designated:
None
Asset Derivatives Liability Derivatives
Balance Sheet Location December 31,
2011 Balance Sheet Location December 31,
2011
(in millions)
Designated derivatives instruments:
Commodity derivatives............. Other Current Assets $ 1 Accrued Liabilities $ 17
Foreign currency derivatives..... Other Current Assets 3 Accrued Liabilities —
Foreign currency derivatives*... Accrued Liabilities 9 Accrued Liabilities 35
Commodity derivatives............. Other Long-Term Assets — Other Long-Term Liabilities 11
Foreign currency derivatives*... Other Long-Term Liabilities 2 Other Long-Term Liabilities 17
Total................................... $ 15 $ 80
Derivatives not designated:
None
* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in
accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
The fair value of Delphi’s derivative financial instruments increased from a net liability position at December 31, 2011 to
a net asset position at December 31, 2012 primarily due to favorable movements in the forward rates of certain commodities
and currencies.