Foreign Currency Hedging
In Du Pont Corporation’s 1994 annual report, Note 27 contained the following (partial) information:
Principal foreign currency exposures and related hedge positions on December 31, 1994, were as follows:
| Open Contracts | |||
| Net Monetary | to Buy(Sell) | ||
| Currency | Asset (Liability) | Foreign Currency | Net After-Tax |
| (Dollars in millions) | Exposure | After Tax | Exposure |
| British pound | $(1,428) | $1,427 | $(1) |
| Dutch gilder | $ 273 | $ (271) | $ 2 |
| Italian lira | $ 205 | $ (206) | $(1) |
Required
Discuss the impact that hedging has had on Du Pont’s financial statements.
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