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. P-968