Amgen Inc. reports the following disclosure relating to its accumulated other comprehensive income. Foreign Currency Translation $(529) Cash Flow Hedges $(6) Available- for-Sale Securities $ (144) (9) Other AOCI $(679) (9) $ millions Balance as of December 31, 2017........ Cumulative effect of change in accounting principle, net of tax .. Foreign currency translation adjustments.. Unrealized (losses) gains..... Reclassification adjustments to income Other....... Income taxes Balance as of December 31, 2018.. (141) 61 262 (556) 365 (141) (495) 627 (2) (70) $(769) 6 (76) $241 $(670) $(338 $(338) $ (2) Analyzing Derivatives and Hedging Refer to the information for Amgen in M9-14. This information reports activity related to Amgen's cash flow hedges. a. Explain how this type of hedging works. Provide an example of how Amgen might use this type of hedging strategy b. How did the hedges affect net income for 2018? c. If these same hedges had instead been fair value hedges, what amount would have been added to AOCI for the year? Amgen Inc. reports the following disclosure relating to its accumulated other comprehensive income. Foreign Currency Translation $(529) Cash Flow Hedges $(6) Available- for-Sale Securities $ (144) (9) Other AOCI $(679) (9) $ millions Balance as of December 31, 2017........ Cumulative effect of change in accounting principle, net of tax .. Foreign currency translation adjustments.. Unrealized (losses) gains..... Reclassification adjustments to income Other....... Income taxes Balance as of December 31, 2018.. (141) 61 262 (556) 365 (141) (495) 627 (2) (70) $(769) 6 (76) $241 $(670) $(338 $(338) $ (2) Analyzing Derivatives and Hedging Refer to the information for Amgen in M9-14. This information reports activity related to Amgen's cash flow hedges. a. Explain how this type of hedging works. Provide an example of how Amgen might use this type of hedging strategy b. How did the hedges affect net income for 2018? c. If these same hedges had instead been fair value hedges, what amount would have been added to AOCI for the year