T » Topics » Interest Rate Foreign Currency Swaps

This excerpt taken from the T 10-K filed Feb 26, 2007.
Interest Rate Foreign Currency Swaps We had combined interest rate foreign currency swap agreements for Euro-denominated debt, which hedge our risk to both interest rate and currency movements. In November 2006, we repaid the notional amount of our foreign currency swap of $636. Upon repayment we unwound our swap asset of $284. Additionally, we repaid the collateral associated with the swap contract of $150, which was received by us over the term of the swap agreement.

 

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Notes to Consolidated Financial Statements, continued

Dollars in millions except per share amounts

 

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