Johnson and Johnson 2012 Annual Report Download - page 42

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The Company’s significant financial assets and liabilities measured at fair value as of December 30, 2012 and January 1,
2012 were as follows:
2012 2011
(Dollars in Millions) Level 1 Level 2 Level 3 Total Total(1)
Derivatives designated as hedging instruments:
Assets:
Foreign exchange contracts $ – 423 – 423 442
Cross currency interest rate swaps(2) – 98 – 98 15
Total – 521 – 521 457
Liabilities:
Foreign exchange contracts – 252 – 252 452
Cross currency interest rate swaps(3) – 10 – 10 594
Total – 262 – 262 1,046
Derivatives not designated as hedging instruments:
Assets:
Foreign exchange contracts – 75 – 75 29
Swiss Franc Option(4) –– – –17
Total – 75 – 75 46
Liabilities:
Foreign exchange contracts – 23 – 23 34
Other investments(5) $1,247 – – 1,247 1,563
(1) 2011 assets and liabilities are all classified as Level 2 with the exception of Other investments of $1,563 million, which are classified
as Level 1.
(2) Includes $96 million and $15 million of non-current assets for the fiscal years ending December 30, 2012 and January 1, 2012,
respectively.
(3) Includes $4 million and $594 million of non-current liabilities for the fiscal years ending December 30, 2012 and January 1, 2012,
respectively. Cross currency interest rate swaps related to outstanding EUR and GBP notes, matured in November 2012. The swaps
were settled at fair market value and replaced with new swaps.
(4) Currency option related to the acquisition of Synthes, Inc., which expired in January 2012.
(5) Classified as non-current other assets.
See Notes 2 and 7 for financial assets and liabilities held at carrying amount on the Consolidated Balance Sheet.
34 •Johnson & Johnson 2012 Annual Report