Arcos Dorados Holdings Inc
For the period ended Nov 12, 2024. Filed Nov 13, 2024.
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Nov 12, 2024 · Filed Nov 13, 2024
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Additional disclosures
The following table presents the pretax amounts affecting income and other comprehensive (loss) income for the nine-month period ended September 30, 2024 and 2023 for each type of derivative relationship:
| Derivatives in Cash FlowHedging Relationships | Gain (Loss) Recognized in Accumulated OCI on Derivative (Unaudited) | (Gain) Loss Reclassified from Accumulated OCI into income (Unaudited) | ||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Forward contracts (i) | $2,501 | $(5,408) | $638 | $5,181 |
| Cross-currency interest rate swaps (ii) | 12,699 | (11,148) | (7,820) | 7,644 |
| Call spread (iii) | 868 | 185 | (1,000) | 1,054 |
| Coupon-only swap (iii) | 1,160 | 463 | (389) | (1,887) |
| Sustainability linked ESG principal only swap (ii) | 6,297 | — | (5,584) | — |
| Total | $23,525 | $(15,908) | $(14,155) | $11,992 |
(i)The results recognized in income related to forward contracts were recorded as an adjustment to food and paper.
(ii)The net gain (loss) recognized in income is presented as follows:
| For the nine-month period ended September 30, | ||
|---|---|---|
| Adjustment to: | 2024 (Unaudited) | 2023 (Unaudited) |
| Net interest expense and other financing results | $(1,603) | $(1,483) |
| Loss from derivative instruments (a) | — | (6) |
| Foreign currency exchange results | 15,007 | (6,155) |
| Total | $13,404 | $(7,644) |
(a) Related to the discontinued relationships of Cross-currency interest rate swaps during July 2023.
(iii)The results recognized in income related to call spread agreements were recorded as an adjustment to “Foreign currency exchange results”. The results recognized in income related to coupon-only agreements were recorded as an adjustment to “Net interest expense and other financing results”.
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