Supercuts 2011 Annual Report Download - page 126

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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 Consolidated Balance Sheet as of June 30, 2011 and 2010:
The table below sets forth the (gain) or loss on the Company's derivative instruments recorded within accumulated other comprehensive
income (AOCI) in the Consolidated Balance Sheet for the twelve months ended June 30, 2011 and 2010. 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 twelve months ended
June 30, 2011 and 2010 within the following line items in the Consolidated Statement of Operations.
As of June 30, 2011 the Company estimates that it will reclassify into earnings during the next twelve months a gain of $0.6 million from
the pretax amount recorded in AOCI as the anticipated cash flows occur.
121
Asset
Liability
Fair Value
Fair Value
Type
Classification
June 30,
2011
June 30,
2010
Classification
June 30,
2011
June 30,
2010
(In thousands)
(In thousands)
Designated as hedging
instruments—Cash
Flow Hedges:
Interest rate swaps
—
$
—
$
—
Other
noncurrent
liabilities
$
—
$
(
1,039
)
Forward foreign currency
contracts
Other
current
assets
$
—
$
274
Other current
liabilities
$
(599
)
$
—
Freestanding derivative
contracts—not
designated as hedging
instruments:
Forward foreign currency
contracts
Other
current
assets
$
212
$
—
Other current
liabilities
$
—
$
(
401
)
Total
$
212
$
274
$
(599
)
$
(1,440
)
(Gain) Loss Recognized in
Other Comprehensive Income
Twelve Months Ended June 30,
(Gain) Loss Reclassified from
Accumulated OCI into
Income (Loss) at June 30,
Type
2011
2010
2009
Classification
2011
2010
2009
(In thousands)
(In thousands)
Designated as hedging
instruments—
Cash Flow
Hedges:
Interest rate swaps
$
(636
)
$
(2,967
)
$
(2,732
)
—
$
—
$
—
$
—
Forward foreign currency
contracts
456
519
(495
)
Cost of
sales
48
(261
)
(142
)
Treasury lock contracts
—
(
146
)
41
Interest
income
—
388
(25
)
Total
$
(180
)
$
(2,594
)
$
(3,186
)
$
48
$
127
$
(167
)