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Unformatted text preview: vative instrument that are
reported in other comprehensive income will be reclassified as earnings in the periods in which
earnings are impacted by the variability of the cash flows of the hedged item. The ineffective
portion of all hedges will be recognized in current period earnings. 16 Aracruz Celulose S.A.
Notes to Consolidated Financial Statements
Expressed in thousands of United States dollars
(unless otherwise stated) Management estimates that, due to the limited number of unsettled derivative instruments as of
December 31, 2000, the adoption of FAS 133, as amended, as of January 1, 2001 will not
have a significant effect on the Company’s results of operations or its financial position.
(n) Income taxes
The Company has adopted SFAS 109 - "Accounting for Income Taxes" for all years
presented. Accordingly, the Company recognizes (i) the benefits of tax loss carryforwards
available to be offset against future taxable income and (ii) deferred tax assets and liabilities for
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08