DuPont 2012 Annual Report Download - page 91
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(Dollars in millions, except per share)
Derivatives designated as hedging instruments:
Fair value hedges:
Interest rate swaps $ — $ — $ — $ (11) $ 26 $40 Interest expense3
Cash flow hedges:
Foreign currency contracts (2) (6) 2 21 (15) (1)Net sales
Commodity contracts 723 (35)44 (81) (89) COGS4
Treasury rate contracts — — (3) — — —
5 17 (36) 54 (70)(50)
Derivatives not designated as hedging instruments:
Foreign currency contracts — — — (157) (133)117 Other income, net5
Commodity contracts ———(22)3(18)COGS4
Interest rate swaps ———— (1) — COGS4
— — — (179) (131)99
Total derivatives $ 5 $ 17 $ (36) $ (125) $ (201) $ 49
1. OCI is defined as other comprehensive income (loss).
2. For cash flow hedges, this represents the effective portion of the gain (loss) reclassified from accumulated OCI into income during the period. For the years ended December 31,
2012, 2011 and 2010, there was no material ineffectiveness with regard to the company's cash flow hedges.
3. Gain (loss) recognized in income of derivative is offset to $0 by gain (loss) recognized in income of the hedged item.
4. COGS is defined as costs of goods sold and other operating charges.
5. Gain (loss) recognized in other income, net, was partially offset by the related gain (loss) on the foreign currency-denominated monetary assets and liabilities of the company's
operations, which were $(58), $(13) and $(128) for 2012, 2011 and 2010, respectively.
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