Best Buy 2012 Annual Report Download - page 95

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$ in millions, except per share amounts or as otherwise noted
95
Summary of Derivative Balances
The following table presents the gross fair values for derivative instruments and the corresponding classification at March 3,
2012 and February 26, 2011:
March 3, 2012 February 26, 2011
Contract Type Assets Liabilities Assets Liabilities
Cash flow hedges (foreign exchange forward contracts) $ — $ — $ 1 $ (2)
No hedge designation (foreign exchange forward contracts) 1 (2) 2 (2)
Total $ 1 $ (2) $ 3 $ (4)
The following tables present the effects of derivative instruments on other comprehensive income ("OCI") and on our
Consolidated Statements of Earnings for fiscal 2012 and 2011:
2012 2011
Contract Type
Pre-tax Gain
Recognized
in OCI(1)
Gain Reclassified
from Accumulated
OCI to Earnings
(Effective Portion)(2)
Pre-tax Gain
Recognized
in OCI(1)
Gain Reclassified
from Accumulated
OCI to Earnings
(Effective Portion)(2)
Cash flow hedges (foreign exchange forward
contracts) $ 7 $ 5 $ 9 $ 12
Net investment hedges (foreign exchange swap
contracts) — — 8 —
Total $ 7 $ 5 $ 17 $ 12
(1) Reflects the amount recognized in OCI prior to the reclassification of 50% to noncontrolling interests for the cash flow and net investment hedges,
respectively.
(2) Gain reclassified from accumulated OCI is included within Selling, general and administrative expenses in our Consolidated Statements of Earnings.
The following table presents the effects of derivatives not designated as hedging instruments on our Consolidated Statements of
Earnings for fiscal 2012 and 2011:
Gain Recognized
within SG&A
Contract Type 2012 2011
No hedge designation (foreign exchange forward contracts) $ 5 $ 13
The following table presents the notional amounts of our foreign currency exchange contracts at March 3, 2012 and
February 26, 2011:
Notional Amount
Contract Type March 3,
2012 February 26,
2011
Derivatives designated as cash flow hedging instruments $ — $ 264
Derivatives not designated as hedging instruments 238 493
Total $ 238 $ 757
10. Shareholders' Equity
Stock Compensation Plans
Our 2004 Omnibus Stock and Incentive Plan, as amended (the "Omnibus Plan"), authorizes us to grant or issue non-qualified
stock options, incentive stock options, share awards and other equity awards up to a total of 64.5 million shares. We have not
granted incentive stock options under the Omnibus Plan. Under the terms of the Omnibus Plan, awards may be granted to our
employees, officers, advisors, consultants and directors. Awards issued under the Omnibus Plan vest as determined by the
Compensation and Human Resources Committee of our Board of Directors at the time of grant. At March 3, 2012, a total of
22.7 million shares were available for future grants under the Omnibus Plan.