Sunoco 2013 Annual Report Download - page 88

86
Gains (Losses)
Recognized in Other
Comprehensive
Income (Loss)
Gains
(Losses)
Recognized in
Earnings Location of Gains (Losses) Recognized in Earnings
(in millions)
Successor
Year Ended December 31, 2013
Derivatives designated as cash flow hedging
instruments:
Commodity contracts $ — $ (1) Sales and other operating revenue
Commodity contracts — — Cost of products sold
$ — $ (1)
Derivatives not designated as hedging instruments:
Commodity contracts $ (7) Sales and other operating revenue
Commodity contracts 1 Cost of products sold
$ (6)
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
$ — $ (1)
Derivatives not designated as hedging instruments:
Commodity contracts $ — Sales and other operating revenue
Commodity contracts 12 Cost of products sold
$ 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
$ (21) $ (2)
Derivatives not designated as hedging instruments:
Commodity contracts $ (7) Sales and other operating revenue
Commodity contracts (4) Cost of products sold
$ (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
$ 4 $ 1
Derivatives not designated as hedging instruments:
Commodity contracts $ 6 Sales and other operating revenue
Commodity contracts (1) Cost of products sold
$ 5
(1) The Partnership had deferred hedging losses of approximately $17 million in the accumulated other comprehensive loss component
of equity prior to the acquisition of the general partner by ETP. These deferred losses were eliminated in connection with the
adjustment of the Partnership's assets and liabilities to fair value (Note 1). In addition, the Partnership did not re-designate its cash
flow hedging derivatives which were open on the acquisition date. The Partnership's earnings for the period from October 5, 2012 to
December 31, 2012 included approximately $12 million of hedging gains resulting from the elimination of the deferred hedging
losses of such positions and the non-hedge designation subsequent to the acquisition date.