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This excerpt taken from the HBI 10-Q filed May 11, 2009. Market to
Market Hedges — Intercompany Foreign Exchange
Transactions
The Company uses foreign exchange derivative contracts to reduce
the impact of foreign exchange fluctuations on anticipated
intercompany purchase and lending transactions denominated in
foreign currencies. Foreign exchange derivative contracts are
recorded as mark to market hedges when the hedged item is a
recorded asset or liability that is revalued in each accounting
period, in accordance with SFAS No. 52, Foreign
Currency Translation. Mark to market hedge derivatives relating
to intercompany foreign exchange contracts are reported in the
Condensed Consolidated Statements of Cash Flows as cash flow
from operating activities. As of April 4, 2009, the
U.S. dollar equivalent of commitments to purchase and sell
foreign currencies in our
Table of Contents
HANESBRANDS
INC.
Notes to Condensed Consolidated Financial Statements — (Continued) (dollars and shares in thousands, except per share data) (unaudited)
foreign currency mark to market hedge derivative portfolio is
$56,411 and $41,800, respectively, using the exchange rate at
the reporting date.
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