Foreign currency forward contracts activity for the year ended December 31, 2013 was as follows (in millions):


	Beginning fair value			Settlement			Gain (loss) recorded in other income, net			Gain (loss) recorded in other comprehensive income			Gain (loss) recorded in revenue			Ending fair value
Derivatives designated as hedging instruments:
Net investment hedges	$	3		$	(304	)	$	—		$	510	⁽¹⁾	$	—		$	209
Cash flow hedges		—			(2	)		1			2	⁽²⁾		3	⁽³⁾		4
Derivatives not designated as hedging instruments:
Balance sheet hedges		(5	)		17			(12	)		—			—			—
Forecasted revenue hedges		—			—			—			—			—			—

⁽¹⁾

This amount does not reflect the tax impact of $193 million recorded during the twelve months ended December 31, 2013. The $317 million after tax impact of the gain recorded under other comprehensive income was included in accumulated other comprehensive income on the Company’s consolidated balance sheets.

⁽²⁾	This amount does not reflect the tax impact of less than $1 million recorded during the twelve months ended December 31, 2013. The less than $1 million tax impact of the gain was included in accumulated other comprehensive income on the Company’s consolidated balance sheets.

⁽³⁾	This amount does not reflect the tax impact of $1 million recorded during the twelve months ended December 31, 2013. The $2 million after tax impact was included the consolidated statements of income.