text: In accordance with SFAS No. 133, entities are re q u i red to carry all derivative instruments on the balance sheet at fair value. The accounting for 
  movements in fair value of derivatives depends upon whether it has been designated and qualifies as part of a hedging relationship and, if so, the 
  reason for holding it. If certain conditions are met, the Company may elect to designate a derivative instrument as a hedge of exposures. If the 
  hedged exposure is a fair value exposure, movements in fair value are recognized in earnings with the offsetting gain or loss on the hedged item 
  attributable to the hedged risk. If the hedged exposure is a cash flow exposure, the effective portion of the movement in fair value of the derivative 
  i n s t rument is initially re p o rted as a component of other comprehensive income and subsequently reclassified into earnings at the time the 
  f o recasted transaction impacts earnings. Amounts excluded from the assessment of hedge effectiveness as well as the ineffective portion of 
  movements in fair value of the derivative instrument are re p o rted in earnings in the current period. Accounting for foreign currency hedges is 
  similar to the accounting for fair value and cash flow hedges. If a derivative instrument is not designated as a hedge, movements in the fair value 
  of derivative instruments are recognized in earnings. 