XML 33 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Impact of derivative contracts on accumulated other comprehensive income
The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of March 31, 2014 and December 31, 2013, and the impact of these derivative contracts on accumulated other comprehensive income for the three months ended March 31, 2014:
 
 
December 31, 2013
 
Amount of gain (loss)
recognized in other
comprehensive income
(effective portion) 
 
Amount of gain (loss)
reclassified from
accumulated other
comprehensive income
to net revenue and operating expense
(effective portion)
 
March 31, 2014
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
(106
)
 
$
(6
)
 
$
(21
)
 
$
(91
)


The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of March 31, 2013 and December 31, 2012, and the impact of these derivative contracts on accumulated other comprehensive income for the three months ended March 31, 2013:

 
December 31, 2012
 
Amount of gain (loss)
recognized in other
comprehensive income
(effective portion) 
 
Amount of gain (loss)
reclassified from
accumulated other
comprehensive income
to net revenue and operating expense
(effective portion)
 
March 31, 2013
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
(55
)
 
$
82

 
$
(4
)
 
$
31
Summary of fair value of outstanding derivative instruments
The fair value of our outstanding derivative instruments as of March 31, 2014 and December 31, 2013 was as follows:
 
 
Derivative Assets Reported in Other Current Assets 
 
Derivative Liabilities Reported in Other Current Liabilities
 
March 31,
2014
 
December 31,
2013
 
March 31,
2014
 
December 31,
2013
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
6

 
$
15

 
$
97

 
$
121

Foreign exchange contracts not designated as hedging instruments
15

 
29

 
22

 
30

Total fair value of derivative instruments
$
21

 
$
44

 
$
119

 
$
151
Recognized gains or losses related to derivative instruments
The following table provides the location in our financial statements of the recognized gains or losses related to our derivative instruments: 
 
Three Months Ended March 31,
 
2014
 
2013
 
(In millions)
Foreign exchange contracts designated as cash flow hedges recognized in net revenues
$
(17
)
 
$
—

Foreign exchange contracts designated as cash flow hedges recognized in operating expenses
(4
)
 
(4
)
Foreign exchange contracts not designated as hedging instruments recognized in interest and other, net
(10
)
 
4

Total gain (loss) recognized from derivative contracts in the condensed consolidated statement of income
$
(31
)
 
$
—