First Data 2014 Annual Report Download - page 66
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reasonable reflection of the fair value of these instruments, the estimated values may not be representative of actual values that could have been realized or
that will be realized in the near future.
Derivative gains and (losses) were as follows for the periods indicated:
Gain (loss) reclassified from accumulated OCI into
Interest expense in the Consolidated Statements of
Operations
$ —
$ —
$ —
$ —
$ (114.9)
$ —
Gain (loss) recognized in OCI (effective portion)
$ —
$ 79.8
$ —
$ 14.2
$ —
$ (9.2)
Gain (loss) recognized in Other income (expense) in the
Consolidated Statements of Operations
$ (3.4)
$ 3.7
$ (22.7)
$ (1.7)
$ (89.9)
$ (1.5)
(a) No gain (loss) recognized in Consolidated Statements of Operations due to ineffectiveness.
The following table summarizes activity in other comprehensive income for the years ended December 31, 2014, 2013, and 2012 related to derivative
instruments classified as cash flow hedges and a net investment hedge held by the Company:
Accumulated loss included in other comprehensive income (loss) at beginning of the period
$ (12.3)
$ (21.1)
$ (87.6)
Less: Reclassifications into earnings from other comprehensive income (loss), net of tax
—
—
72.2
(12.3)
(21.1)
(15.4)
Increase (decrease) in fair value of derivatives that qualify for hedge accounting (a)
49.6
8.8
(5.7)
Accumulated gain (loss) included in other comprehensive income (loss) at end of the period
$ 37.3
$ (12.3)
$ (21.1)
(a) Gains and (losses) are included in “Unrealized gains on hedging activities” and in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive
Income (Loss).
66