This excerpt taken from the GOOG 10-K filed Feb 12, 2010.
Liquidation of Investment in AOL
In 2009, we recognized a gain of $9.0 million on the sale of our equity investment in America Online, Inc. to Time Warner Inc. for $283.0 million.
We enter into foreign currency contracts with financial institutions to reduce the risk that our cash flows, earnings, and fair value of certain marketable securities will be adversely affected by foreign currency exchange rate fluctuations. Our program is not designated for trading or speculative purposes.
We recognize derivative instruments as either assets or liabilities on the balance sheet at fair value. We record changes in the fair value (i.e., gains or losses) of the derivatives in the accompanying Consolidated Statements of Income as interest income and other, net, as part of revenues, or to accumulated other comprehensive income (AOCI) on the accompanying Consolidated Balance Sheets.