This excerpt taken from the C 10-Q filed Nov 4, 2005.
Asset/Liability Management Hedges:
A derivative must be highly effective in accomplishing the hedge objective of offsetting either changes in the fair value or cash flows of the hedged item for the risk being hedged. Any ineffectiveness present in the hedge relationship is recognized in current earnings. The assessment of effectiveness excludes the changes in the value of the hedged item which are unrelated to the risks being hedged. Similarly, the assessment of effectiveness may exclude changes in the fair value of a derivative related to time value which, if excluded, are recognized in current earnings.
The following table summarizes certain information related to the Company's hedging activities for the three- and nine-month periods ended September 30, 2005 and 2004:
The accumulated other changes in equity from nonowner sources from cash flow hedges for the three-and nine-month periods ended September 30, 2005 and 2004 can be summarized as follows (after-tax):