DELPHI 2013 Annual Report Download - page 125
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103
Asset Derivatives Liability Derivatives
Net
Amounts of
Assets and
Liabilities
Presented in
the Balance
Sheet
Balance Sheet Location December 31,
2012 Balance Sheet Location December 31,
2012 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 19
Foreign currency derivatives* Accrued Liabilities — Accrued Liabilities 5 (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 5
Total................................ $ 34 $ 20
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 was in a net liability position as of December 31, 2013 and a
net asset position as of December 31, 2012. The change from a net asset as of December 31, 2012 to a net liability position at
December 31, 2013 is primarily due to unfavorable movements in the forward rates of certain foreign currencies and
commodities.
The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated
statement of comprehensive income for the year ended December 31, 2013 is as follows:
Year Ended December 31, 2013
(Loss) Gain
Recognized in
OCI (Effective
Portion)
(Loss) Gain
Reclassified
from OCI
into Income
(Effective
Portion)
Gain Recognized
in Income
(Ineffective
Portion Excluded
from Effectiveness
Testing)
(in millions)
Designated derivatives instruments:
Commodity derivatives.......................................................................... $(25) $ (22) $ —
Foreign currency derivatives.................................................................. 11 25 —
Total................................................................................................ $(14) $ 3 $ —
Gain
Recognized in
Income
Derivatives not designated:
Commodity derivatives........................................................................................................................................ $ —
Foreign currency derivatives................................................................................................................................ 1
Total.............................................................................................................................................................. $ 1