. thus , cash flow hedge accounting treatment was discontinued and the ineffective contracts resulted in a loss of $ 1 million , which was reported in earnings for fiscal year 2004 . the remaining hedges were highly effective and there was no net gain or loss reported in earnings for the fiscal years 2004 and 2003 . as of december 31 , 2004 , there were no deferred gains or losses accumulated in other comprehensive income that we expect to reclassify into earnings over the next 12 months