Derivative Financial Instruments (Tables)

The following table summarizes information about the fair values of derivative instruments on our Condensed Consolidated Balance Sheets (in thousands):



	March 31, 2012
	Asset Derivatives			Liability Derivatives
	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Other current assets	$	47,498	Other accrued liabilities	$	14,564
Foreign currency exchange contracts	Other noncurrent assets	4,459		Other long-term obligations	3,778
Total derivatives designated as hedges		51,957			18,342
Derivatives not designated as hedges:
Foreign currency exchange contracts	Other current assets	1		Other accrued liabilities	61
Total derivatives not designated as hedges		1			61
Total derivatives		$	51,958		$	18,403



	December 31, 2011
	Asset Derivatives			Liability Derivatives
	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Other current assets	$	77,066	Other accrued liabilities	$	5,052
Foreign currency exchange contracts	Other noncurrent assets	23,169		Other long-term obligations	620
Total derivatives designated as hedges		100,235			5,672
Derivatives not designated as hedges:
Foreign currency exchange contracts	Other current assets	240		Other accrued liabilities	38
Total derivatives not designated as hedges		240			38
Total derivatives		$	100,475		$	5,710

The following table summarizes the effect of our foreign currency exchange contracts on our Condensed Consolidated Statements of Income (in thousands):



	Three Months Ended
	March 31,
	2012			2011
Derivatives designated as hedges:
Net gains (losses) recognized in OCI (effective portion)	$	(48,886	)	$	(127,499	)
Net gains (losses) reclassified from accumulated OCI into product sales (effective portion)	$	11,227		$	9,929
Net gains (losses) recognized in other income (expense), net (ineffective portion and amounts excluded from effectiveness testing)	$	(3,212	)	$	995
Derivatives not designated as hedges:
Net gains (losses) recognized in other income (expense), net	$	(27,174	)	$	(85,846	)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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