Send us Feedback

Hershey Foods (HSY)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

HSY » Topics » Summary of Activity

These excerpts taken from the HSY 10-K filed Feb 20, 2009.

Summary of Activity

Our cash flow hedging derivative activity during the last three years was as follows:

 

For the years ended December 31,

    2008     2007     2006  
In millions of dollars                   

Net after-tax gains on cash flow hedging derivatives

    $ 11.5     $ 6.8     $ 11.4  

Reclassification adjustments from accumulated other comprehensive income to income, net of tax

      (34.1 )     .2       (5.3 )

Hedge ineffectiveness (losses) gains recognized in cost of sales, before tax

      (.1 )     (.5 )     2.0  

 

  •  

Net gains and losses on cash flow hedging derivatives were primarily associated with commodities futures contracts.

 

  •  

Reclassification adjustments, from accumulated other comprehensive income (loss) to income, related to gains or losses on commodities futures contracts were reflected in cost of sales. Gains on interest rate swaps were reflected as an adjustment to interest expense.

 

  •  

We recorded a gain of $1.0 million in 2006 as a result of the discontinuance of an interest rate swap because the hedged transaction was no longer expected to occur. No other gains or losses on cash flow hedging derivatives resulted because we discontinued a hedge due to the probability that the forecasted hedged transaction would not occur.

 

  •  

We recognized no components of gains or losses on cash flow hedging derivatives in income due to excluding such components from the hedge effectiveness assessment.

The amount of net losses on cash flow hedging derivatives, including foreign exchange forward contracts, interest rate swap agreements and commodities futures contracts, expected to be reclassified into earnings in the next twelve months was approximately $17.0 million after tax as of December 31, 2008. This amount was primarily associated with commodities futures contracts.

 

73

Table of Contents

THE HERSHEY COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Summary of Activity

FACE="Times New Roman" SIZE="2">Our cash flow hedging derivative activity during the last three years was as follows:

 


















































































For the years ended December 31,

  2008  2007  2006 
In millions of dollars          

Net after-tax gains on cash flow hedging derivatives

  $11.5  $6.8  $11.4 

Reclassification adjustments from accumulated other comprehensive income to income, net of tax

   (34.1)  .2   (5.3)

Hedge ineffectiveness (losses) gains recognized in cost of sales, before tax

   (.1)  (.5)  2.0 

 







 • 

Net gains and losses on cash flow hedging derivatives were primarily associated with commodities futures contracts.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







 • 

Reclassification adjustments, from accumulated other comprehensive income (loss) to income, related to gains or losses on commodities futures contracts were
reflected in cost of sales. Gains on interest rate swaps were reflected as an adjustment to interest expense.

 







 • 

We recorded a gain of $1.0 million in 2006 as a result of the discontinuance of an interest rate swap because the hedged transaction was no longer expected to
occur. No other gains or losses on cash flow hedging derivatives resulted because we discontinued a hedge due to the probability that the forecasted hedged transaction would not occur.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







 • 

We recognized no components of gains or losses on cash flow hedging derivatives in income due to excluding such components from the hedge effectiveness assessment.

The amount of net losses on cash flow hedging derivatives, including foreign exchange forward contracts, interest rate
swap agreements and commodities futures contracts, expected to be reclassified into earnings in the next twelve months was approximately $17.0 million after tax as of December 31, 2008. This amount was primarily associated with commodities
futures contracts.

 


73






Table of Contents



THE HERSHEY COMPANY

ALIGN="center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


This excerpt taken from the HSY 10-K filed Feb 19, 2008.

Summary of Activity

Our cash flow hedging derivative activity during the last three years was as follows:

 

For the years ended December 31,

    2007     2006     2005  
In millions of dollars                   

Net after-tax gains (losses) on cash flow hedging derivatives

    $ 6.8     $ 11.4     $ (6.5 )

Reclassification adjustments from accumulated other comprehensive income to income, net of tax

      .2       (5.3 )     18.1  

Hedge ineffectiveness gains (losses) recognized in cost of sales, before tax

      (.5 )     2.0       (2.0 )

 

  •  

Net gains and losses on cash flow hedging derivatives were primarily associated with commodities futures contracts.

 

  •  

Reclassification adjustments, from accumulated other comprehensive income (loss) to income, related to gains or losses on commodities futures contracts were reflected in cost of sales. Gains on interest rate swaps were reflected as an adjustment to interest expense.

 

  •  

We recorded a gain of $1.0 million in 2006 as a result of the discontinuance of an interest rate swap because the hedged transaction was no longer expected to occur. No other gains or losses on cash flow hedging derivatives resulted because we discontinued a hedge due to the probability that the forecasted hedged transaction would not occur.

 

  •  

We recognized no components of gains or losses on cash flow hedging derivatives in income due to excluding such components from the hedge effectiveness assessment.

The amount of net losses on cash flow hedging derivatives, including foreign exchange forward contracts, interest rate swap agreements and commodities futures contracts, expected to be reclassified into earnings in the next twelve months was approximately $5.0 million after tax as of December 31, 2007. This amount was primarily associated with commodities futures contracts.

72

Table of Contents

THE HERSHEY COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the HSY 10-K filed Feb 23, 2007.

Summary of Activity

Our cash flow hedging derivative activity during the last three years was as follows:

 

For the years ended December 31,

    2006     2005     2004
In millions of dollars                 

Net after-tax gains (losses) on cash flow hedging derivatives

    $ 11.4     $ (6.5 )   $ 16.3

Reclassification adjustments from accumulated other comprehensive income to income, net of tax

      (5.3 )     18.1       26.1

Hedge ineffectiveness gains (losses) recognized in cost of sales, before tax

      2.0       (2.0 )     .4

 

  •  

Net gains and losses on cash flow hedging derivatives were primarily associated with commodities futures contracts.

 

  •  

Reclassification adjustments, from accumulated other comprehensive income (loss) to income, related to gains or losses on commodities futures contracts were reflected in cost of sales. Gains on interest rate swaps were reflected as an adjustment to interest expense.

 

  •  

We recorded a gain of $1.0 million in 2006 as a result of the discontinuance of an interest rate swap because the hedged transaction was no longer expected to occur. No other gains or losses on cash flow hedging derivatives resulted because we discontinued a hedge due to the probability that the forecasted hedged transaction would not occur.

 

  •  

We recognized no components of gains or losses on cash flow hedging derivatives in income due to excluding such components from the hedge effectiveness assessment.

The amount of net losses on cash flow hedging derivatives, including foreign exchange forward contracts and options, interest rate swap agreements and commodities futures contracts, expected to be reclassified into earnings in the next twelve months was approximately $4.6 million after tax as of December 31, 2006. This amount was primarily associated with commodities futures contracts.

 

68

THE HERSHEY COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 20, 2009
10-K
Feb 19, 2008
10-K
Feb 23, 2007

RELATED TOPICS for HSY:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki