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PART II
ITEM8.NotestoConsolidatedFinancialStatements
As of December31, 2013
Balance Sheet Location
Fair Value
ofDerivatives
Designated as
HedgingInstruments
Fair Value
ofDerivatives
NotDesignated as
Hedging Instruments
Total
FairValue
Derivative Assets:
Level2:
Foreignexchangecontracts Prepaidrevenueshare,expensesand
otherassets,currentandnon-current $133 $12 $145
Interestratecontracts Prepaidrevenueshare,expensesand
otherassets,currentandnon-current 87 0 87
Total $220 $12 $232
Derivative Liabilities:
Level2:
Foreignexchangecontracts Accruedexpensesandother
currentliabilities $0$4$4
Theeectofderivativeinstrumentsincashowhedgingrelationshipsonincomeandothercomprehensiveincome(OCI)is
summarizedbelow(inmillions):
Derivatives in Cash Flow
Hedging Relationship
Gains (Losses) Recognized in OCI
on Derivatives Before Tax Eect (Eective Portion)
Year Ended December31,
2011 2012 2013
Foreignexchangecontracts $54 $73 $92
Interestratecontracts 0 1 86
Total $54 $74 $178
Derivatives in Cash Flow
Hedging Relationship
Gains Reclassied from AOCI into Income
(Eective Portion)
Year Ended December31,
Location 2011 2012 2013
Foreignexchangecontracts Revenues $43 $217 $95
Derivatives in Cash Flow
Hedging Relationship
Gains (Losses) Recognized in Income on Derivatives
(Amount Excluded from Eectiveness Testing and
Ineective Portion)(1)
Year Ended December31,
Location 2011 2012 2013
Foreignexchangecontracts Interestandotherincome,net $(323) $(447) $(280)
(1) Gains(losses)relatedtotheineffectiveportionofthehedgeswerenotmaterialinallperiodspresented.
Theeectofderivativeinstrumentsinfairvaluehedgingrelationshipsonincomeissummarizedbelow(inmillions):
Derivatives in Fair Value
Hedging Relationship
Gains (Losses) Recognized in Income on Derivatives(2)
Year Ended December31,
Location 2011 2012 2013
Foreignexchangecontracts Interestandotherincome,net $(2) $(31) $16
Hedgeditem Interestandotherincome,net (12 ) 23 (25)
Total $(14 ) $(8) $(9)
(2) Lossesrelatedtotheamountexcludedfromeffectivenesstestingofthehedgeswere$14million,$8million,and$9millionfortheyears
endedDecember31,2011,2012,and2013.
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