. the cross currency swaps and the euro-denominated portion of the senior term loan were designated as a hedge of a net investment of a foreign operation . we dedesignated the net investment hedge due to the debt refinancing in april 2007 and redesignated the cross currency swaps and new senior euro term loan in july 2007 . as a result , we recorded $ 26 million of mark-to-market losses related to the cross currency swaps and the new senior euro term loan during this period