Apple 1999 Annual Report Download - page 32

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accounting hedges realized before the settlement date of the related hedged transaction are also generally deferred and recognized in income in
the same period as the hedged transactions.
Gains and losses on interest rate and foreign exchange instruments not accounted for as hedges are recorded in income as a component of
interest and other income (expense), net. Sold interest rate and foreign exchange instruments do not qualify as accounting hedges. Premiums
associated with sold foreign exchange option contracts are marked to market through earnings.
The following table provides information about the Company's foreign currency derivative financial instruments outstanding as of September
25, 1999 and 1998. The information is provided in U.S. dollar amounts, as presented in the Company's consolidated financial statements. For
foreign currency exchange contracts, the table presents the notional amount (at contract exchange rates) and the weighted-average contractual
foreign currency exchange rates. The combined increase in Yen denominated forward contracts and options is the result of increasing net sales
in Japan and the substantial appreciation in the Yen
29