Companies may have hedging strategies in place where they base hedge effectiveness on forecasts of future events or transactions. As companies move toward bankruptcy, these forecasted events or transactions may no longer be attainable or likely to occur. In such cases, the derivative instruments should be reviewed for effectiveness, considering the likelihood or probability of occurrence of the events or transactions underlying the hedging strategy. Consideration should be given to amounts in accumulated other comprehensive income (AOCI) that relate to forecasted transactions that are no longer probable of occurring. If the occurrence of the transaction is in doubt, any related amounts in AOCI may need to be recognized in the statement of operations. The applicable guidance in ASC 815, Derivatives and Hedging, should be considered. For further discussion of this topic, see DH 9.