CSCO » Topics » Interest Rate Derivatives, Long-Term Debt

This excerpt taken from the CSCO 10-Q filed May 20, 2009.

Interest Rate Derivatives, Long-Term Debt

During the third quarter of fiscal 2009, in connection with the issuance of the 2019 and 2039 Notes, the Company entered into interest rate derivatives to hedge against interest rate movements prior to the pricing of the notes. The effective portion of the hedge was recorded to accumulated other comprehensive income and will be amortized to interest expense over the respective lives of the 2019 and 2039 Notes. See Note 9.

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