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H. J. Heinz Company and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)
The following table presents the fair values and corresponding balance sheet captions of the
Company’s derivative instruments as of April 27, 2011 and April 28, 2010:
Foreign
Exchange
Contracts
April 27, 2011 April 28, 2010
Interest
Rate
Contracts
Cross-
Currency
Interest Rate
Swap
Contracts
Foreign
Exchange
Contracts
Interest
Rate
Contracts
Cross-
Currency
Interest Rate
Swap
Contracts
(Dollars in Thousands)
Assets:
Derivatives designated as
hedging instruments:
Other receivables, net . . . . . $28,139 $38,703 $ — $ 7,408 $ 70,746 $ —
Other non-current assets . . 7,913 16,723 14,898 16,604 38,460 —
36,052 55,426 14,898 24,012 109,206 —
Derivatives not designated as
hedging instruments:
Other receivables, net . . . . . 9,329 — — 555 — —
Other non-current assets . . — — — — — —
9,329 — — 555 — —
Total assets. . . . . . . . . . . . . . . . . $45,381 $55,426 $14,898 $24,567 $109,206 $ —
Liabilities:
Derivatives designated as
hedging instruments:
Other payables . . . . . . . . . . $27,804 $ — $ 6,125 $16,672 $ — $ 3,510
Other non-current
liabilities . . . . . . . . . . . . . 8,054 — — 4,279 — 8,422
35,858 — 6,125 20,951 — 11,932
Derivatives not designated as
hedging instruments:
Other payables . . . . . . . . . . 1,024 — — 3,153 — —
Other non-current
liabilities . . . . . . . . . . . . . — — — — — —
1,024 — — 3,153 — —
Total liabilities . . . . . . . . . . . . . . $36,882 $ — $ 6,125 $24,104 $ — $11,932
Refer to Note 10 for further information on how fair value is determined for the Company’s
derivatives.
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