DELPHI 2014 Annual Report Download - page 125

103
Asset Derivatives Liability Derivatives
Net Amounts
of Assets and
Liabilities
Presented in
the Balance
Sheet
Balance Sheet Location December 31,
2013 Balance Sheet Location December 31, 2013 December 31, 2013
(in millions)
Designated derivatives instruments:
Commodity derivatives .............. Other current assets $ 2 Accrued liabilities $ 9
Foreign currency derivatives*.... Other current assets 16 Other current assets 3 13
Foreign currency derivatives*.... Accrued liabilities 3 Accrued liabilities 10 (7)
Commodity derivatives .............. Other long-term assets 1 Other long-term liabilities 2
Foreign currency derivatives*.... Other long-term assets 5 Other long-term assets 1 4
Foreign currency derivatives*.... Other long-term liabilities 2 Other long-term liabilities 6 (4)
Total..................................... $ 29 $ 31
Derivatives not designated:
Foreign currency derivatives*.... Other current assets $ 3 Other current assets $ 3 —
Total..................................... $ 3 $ 3
* 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 both December 31, 2014
and December 31, 2013.
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, 2014 is as follows:
Year Ended December 31, 2014
Loss 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....................................................................... $(38) $ (17) $ —
Foreign currency derivatives............................................................... (86) 4 1
Total............................................................................................. $(124) $ (13) $ 1
Gain Recognized
in Income
(in millions)
Derivatives not designated:
Commodity derivatives ...................................................................................................................................... $ —
Foreign currency derivatives (1) ........................................................................................................................ 21
Total............................................................................................................................................................. $ 21
(1) Primarily relates to amounts recognized in other income, which offset the losses recognized due to the remeasurement of intercompany loans.