Johnson Controls 2011 Annual Report Download - page 75

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75
Recurring Fair Value Measurements
The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair
value as of September 30, 2011 and 2010 (in millions):
Fair Value Measurements Using:
Total as of
Quoted Prices
in Active
Markets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
September 30, 2011
(Level 1)
(Level 2)
(Level 3)
Other current assets
Foreign currency exchange derivatives
$
46
$
46
$
-
$
-
Other noncurrent assets
Interest rate swaps
15
-
15
-
Investments in marketable common stock
34
34
-
-
Equity swap
112
112
-
-
Foreign currency exchange derivatives
27
27
-
-
Total assets
$
234
$
219
$
15
$
-
Other current liabilities
Foreign currency exchange derivatives
$
70
$
70
$
-
$
-
Cross-currency interest rate swaps
20
-
20
-
Commodity derivatives
32
-
32
-
Long-term debt
Fixed rate swapped to floating
865
-
865
-
Other noncurrent liabilities
Foreign currency exchange derivatives
30
30
-
-
Total liabilities
$
1,017
$
100
$
917
$
-
Fair Value Measurements Using:
Total as of
Quoted Prices
in Active
Markets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
September 30, 2010
(Level 1)
(Level 2)
(Level 3)
Other current assets
Foreign currency exchange derivatives
$
27
$
27
$
-
$
-
Commodity derivatives
14
-
14
-
Other noncurrent assets
Investments in marketable common stock
31
31
-
-
Equity swap
104
104
-
-
Foreign currency exchange derivatives
2
2
-
-
Total assets
$
178
$
164
$
14
$
-
Other current liabilities
Foreign currency exchange derivatives
$
27
$
27
$
-
$
-
Cross-currency interest rate swaps
17
-
17
-
Other noncurrent liabilities
Foreign currency exchange derivatives
2
2
-
-
Total liabilities
$
46
$
29
$
17
$
-
Valuation Methods
Foreign currency exchange derivatives – The Company selectively hedges anticipated transactions that are subject to
foreign exchange rate risk primarily using foreign currency exchange hedge contracts. The foreign currency
exchange derivatives are valued under a market approach using publicized spot and forward prices. As cash flow