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54 Jarden Corporation Annual Report 2014
At December31, 2014 and 2013, the fair value of derivative nancial instruments is as follows:
2014  2013
Weighted
Average
Remaining
Term (years)
FairValueofDerivatives  FairValueofDerivatives
(In millions) Asset (a)  Liability (a)  Asset (a)  Liability (a)
Derivatives designated as effective hedges:      
Cash ow hedges:      
Interest rate swaps $0.6  $7.2  $4.5  $8.0 2.1
Foreign currency contracts 25.9  3.8  11.3  9.1 0.5
Fair value hedges:      
Interest rate swaps —  2.2   —   — 2.3
     
Subtotal 26.5  13.2  15.8  17.1
Derivatives not designated as effective hedges:      
Foreign currency contracts 2.8  1.3  3.5  2.4 0.5
Commodity contracts —   9.0  0.2   0.2 0.6
     
Subtotal 2.8  10.3  3.7  2.6
     
Total $ 29.3 $23.5 $19.5 $19.7
(a) Consolidated balance sheet location:
Asset: Other current and non-current assets
Liability: Other current and non-current liabilities
The following table presents gain and loss activity (on a pretax basis) for 2014, 2013 and 2012 related to derivative nancial instruments
designated as effective hedges:
2014   2013 2012
Gain/(Loss)   Gain/(Loss) Gain/(Loss)
Derivatives designated as
effective hedges:      
Cash ow hedges:          
Interest rate swaps $(3.0) $ —  $ — $8.9 $ — $ —   $(3.8) $ —   $ —
Foreign currency contracts 27.7 6.3 (1.9) 13.9  18.2 (5.5) 6.6 5.9 (5.4)
   
Total $24.7 $6.3 $(1.9) $22.8  $18.2$(5.5)$2.8 $5.9 $(5.4)
Location of gain/(loss) in the consolidated results of operations:
Net sales $2.0 $ —   $0.1 $ —   $(1.8) $ —
Cost of sales 4.3 —   18.1 —   7.7 —
SG&A —  (1.9)   — (5.5)   — (5.4)
Total $6.3 $(1.9)   $18.2$(5.5)    $5.9 $(5.4)
(a) Represents effective portion recognized in Other Comprehensive Income (“OCI”).
(b) Represents portion excluded from effectiveness testing.
At December31, 2014, deferred net gains of $24.7 within AOCI are expected to be reclassied to earnings over the next twelve months.
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2014 (Dollars in millions, except per share data and unless otherwise indicated)
(In millions)
Recognized
in OCI (a)
Reclassied
fromAOCI
to Income
Recognized
inIncome(b)
Recognized
in OCI (a)
Reclassied
fromAOCI
to Income
Recognized
inIncome(b)
Recognized
in OCI (a)
Reclassied
fromAOCI
to Income
Recognized
inIncome(b)