Sunbeam 2009 Annual Report Download - page 60

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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2009
(Dollars in millions, except per share data and unless otherwise indicated)
The following table presents gain and loss activity (on a pretax basis) for 2009 related to derivative financial instruments designated
as effective hedges:
2009
Gain/(Loss)
Gain/(Loss) Reclassified Gain/(Loss)
Recognized from AOCI Recognized
(In millions) in OCI (a) to Income in Income (b)
Derivatives designated as effective hedges:
Cash flow hedges:
Interest rate swaps $ 14.1 $ 4.8 $ —
Foreign currency contracts (10.1) 20.1 (7.6)
Total $ 4.0 $ 24.9 $ (7.6)
Location of gain/(loss) in the consolidated statement of income:
Net sales $ 0.2 $ —
Cost of sales 19.9 —
SG&A — (7.6)
Interest expense 4.8 —
Total $ 24.9 $ (7.6)
(a) Represents effective portion recognized in Other Comprehensive Income (“OCI”)
(b) Represents portion excluded from effectiveness testing
The following table presents gain and loss activity (on a pretax basis) for 2009 related to derivative financial instruments not
designnated as effective hedges:
2009
Gain/(Loss)
Recognized
(In millions) in Income (a)
Derivatives not designated as effective hedges:
Cash flow hedges:
Interest rate swaps $ 1.2
Foreign currency contracts 0.1
Commodity contracts 7.6
Subtotal 8.9
Fair value hedges:
Interest rate swaps (10.5)
Total $ (1.6)
(a) Classified in SG&A
11. Commitments and Contingencies
Operating Leases
The Company conducts its operations in various leased facilities under leases that are classified as operating leases for financial state-
ment purposes. Certain leases provide for payment of real estate taxes, common area maintenance, insurance and certain other expenses.
Lease terms may have escalating rent provisions and rent holidays which are expensed on a straight-line basis over the term of the lease,
and expire at various dates through 2025. Also, certain equipment used in Company operations is leased under operating leases.
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