The effect of derivative instruments designated as fair value hedges and not designated as hedges on the
Consolidated Statement of Income
was as follows:
(Stated in millions)
Gain (Loss) Recognized
in Income
2011
2010
2009 Consolidated Statement of Income Classifiaction
Derivatives designated as fair value hedges:
Foreign exchange contracts
$ –
$ (8)
$105
Cost of revenue - Oilfield Services
Interest rate swaps
9
22
6
Interest expense
$ 9
$ 14
$111
Derivatives not designated as hedges:
Foreign exchange contracts
$(17)
$(13)
$ 32
Cost of revenue - Oilfield Services
Commodity contracts
(5)
1
2
Cost of revenue - Oilfield Services
$(22)
$(12)
$ 34
The effect of derivative instruments in cash flow hedging relationships on income and
Accumulated other
comprehensive loss
(AOCL) was as follows:
(Stated in millions)
Gain (Loss) Reclassified from
AOCL into Income
2011
2010
2009 Consolidated Statement of Income Classification
Foreign exchange contracts
$(25)
$(260)
$ 95
Cost of revenue - Oilfield Services
Foreign exchange contracts
17
(14)
(15)
Research & engineering
$ (8)
$(274)
$ 80
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