Supercuts 2009 Annual Report Download - page 119

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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. DERIVATIVE FINANCIAL INSTRUMENTS (Continued)
The Company had the following derivative instruments in its Condensed Consolidated Balance Sheet as of June 30, 2009 and 2008:
The table below sets forth the tax-effected (gain) or loss on the Company's derivative instruments as of June 30, 2009 and 2008 recorded
within accumulated other comprehensive income (AOCI) in the Condensed Consolidated Balance Sheet. The table also sets forth the (gain) or
loss on the Company's derivative instruments that has been reclassified from AOCI into current earnings during the years ended June 30, 2009
and 2008 within the following line items in the Condensed Consolidated Statement of Operations.
117
Asset
Liability
Fair Value
Fair Value
Type
Classification
June 30,
2009
June 30,
2008
Classification
June 30,
2009
June 30,
2008
(In thousands)
(In thousands)
Designated as hedging instruments
—
Cash Flow Hedges:
Interest rate swaps
—
$
—
$
—
Other noncurrent liabilities
$
(5,786
)
$
(1,366
)
Forward foreign currency contracts
Other current assets
$
380
$
27
Other current liabilities
$
—
$
(
460
)
Designated as hedging instruments—Fair Value Hedges:
Fair value interest rate swap
—
$
—
$
—
Other noncurrent liabilities
$
—
$
(
335
)
Freestanding derivative contracts—not designated as hedging instruments:
Forward foreign currency contracts
Other current assets
$
1,163
$
—
Other current liabilities
$
(16
)
$
—
Total
$
1,543
$
27
$
(5,802
)
$
(2,161
)
Other
Comprehensive
Income (Gain)/Loss
as of June 30,
(Gain)/Loss Reclassified from
Accumulated OCI into
Income (Loss) at June 30,
Type
2009
2008
Classification
2009
2008
(In thousands)
(In thousands)
Designated as hedging instruments
—
Cash Flow Hedges:
Interest rate swaps
$
3,605
$
873
—
$
—
$
—
Forward foreign currency contracts
(392
)
245
Cost of sales
(142
)
(257
)
Treasury lock contracts
(242
)
(259
)
Interest (income) expense
(24
)
4
Total
$
2,971
$
859
$
(166
)
$
(253
)
Designated as hedging instruments—Fair Value Hedges:
Cross
-
currency swap
$
7,932
$
7,932
—
$
—
$
—
Total
$
10,903
$
8,791
$
(166
)
$
(253
)