First Data 2009 Annual Report Download - page 135

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FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The Effect of Derivative Instruments on the Consolidated Statements of Operations
For the year ended December 31, 2008
(in millions, pretax)
Derivatives in cash flow
hedging relationships
Amount of
Gain or
(Loss)
Recognized
in OCI on
Derivative
(Effective
Portion)
Amount of Gain
or (Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Location of
Gain or
(Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Amount of
Gain or
(Loss)
Recognized
in Income
on
Derivative
(Ineffective
Portion)
Location of Gain or (Loss)
Recognized in Income on
Derivative (Ineffective
Portion)2008 2008 2008
Interest rate contracts ........ $(433.1) $(45.8) Interest
Expense
$(16.0) Other income (expense)
Derivatives in net
investment hedging relationships 2008 2008 2008
Foreign exchange contracts .... $ 17.3 — $ (1.7) Other income (expense)
Amount of
Gain or
(Loss)
Recognized
in Income
on
Derivative
Location of
Gain or (Loss)
recognized in
Income on
Derivative
Derivatives not designated as hedging
instruments 2008
Foreign exchange contracts .... $ 4.8 Other income
(expense)
ACCUMULATED DERIVATIVE GAINS AND LOSSES
The following table summarizes activity in other comprehensive income for the years ended December 31,
2009 and 2008 related to derivative instruments classified as cash flow hedges and net investment hedges held by
the Company (in millions, after tax):
Successor
Year ended
December 31,
2009
Year ended
December 31,
2008
Accumulated loss included in other comprehensive income at beginning of the
period ............................................................. $(339.6) $(106.5)
Less: Reclassifications into earnings from other comprehensive income ........... 82.4 28.7
(257.2) (77.8)
Net gains and (losses) in fair value of derivatives (a) .......................... 14.9 (261.8)
Accumulated loss included in other comprehensive income at end of the period ..... $(242.3) $(339.6)
(a) Gains and losses are included in unrealized (losses) gains on hedging activities and in foreign currency
translation adjustment on the Consolidated Statements of Equity.
135