Sunoco 2012 Annual Report Download - page 100

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The Partnership’s derivative positions are comprised primarily of commodity contracts. The following table
sets forth the impact of derivatives on the Partnership’s financial performance for the periods presented:
Gains (Losses)
Recognized in Other
Comprehensive
Income (Loss)
Gains
(Losses)
Recognized in
Earnings
Location of Gains (Losses)
Recognized in Earnings
(in millions)
Successor
Period from Acquisition (October 5, 2012) to
December 31, 2012 (1)
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ................. $ $ (1) Sales and other operating revenue
Commodity contracts ................. Cost of products sold and operating expenses
$— $ (1)
Derivatives not designated as hedging
instruments:
Commodity contracts ................. $— Sales and other operating revenue
Commodity contracts ................. 12 Cost of products sold and operating expenses
$12
Predecessor
Period from January 1, 2012 to October 4, 2012
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ................. $(21) $ (3) Sales and other operating revenue
Commodity contracts ................. 1 Cost of products sold and operating expenses
$ (21) $ (2)
Derivatives not designated as hedging
instruments:
Commodity contracts ................. $ (7) Sales and other operating revenue
Commodity contracts ................. (4) Cost of products sold and operating expenses
$ (11)
Year Ended December 31, 2011
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ................. $ 4 $ (1) Sales and other operating revenue
Commodity contracts ................. 2 Cost of products sold and operating expenses
$4 $ 1
Derivatives not designated as hedging
instruments:
Commodity contracts ................. $ 6 Sales and other operating revenue
Commodity contracts ................. (1) Cost of products sold and operating expenses
$5
Year Ended December 31, 2010
Derivatives designated as cash flow hedging
instruments:
Commodity contracts ................. $ $— Sales and other operating revenue
Commodity contracts ................. Cost of products sold and operating expenses
$— $ —
Derivatives not designated as hedging
instruments:
Commodity contracts ................. $ (1) Sales and other operating revenue
Commodity contracts ................. Cost of products sold and operating expenses
$ (1)
98