Chapters
Annual Report 2018

20. Other Reserves

Accounting Policy
Other reserves include the cash flow hedge reserve, remeasurement of post-employment benefit obligations and the cumulative currency translation reserve.

The cash flow hedge reserve contains the effective part of the accumulated change in the fair value of cash flow hedges, net of tax, related to the foreign currency forwards and interest rate derivatives. See note 24 for more details on the Group's derivatives and hedge accounting.

Remeasurement of post-employment benefit obligations contains remeasurement of gains or losses related to both defined benefit obligations and fair value of plan assets arising from experience adjustments and changes in actuarial assumptions. See note 25 for more details on the Group's post-employment benefit obligations.

The cumulative currency translation reserve includes all exchange differences resulting from the translation of the financial statements of foreign entities.

The movements in Other Reserves can be specified as follows:

in thousands of EUR

Cash flow
hedge reserve

Remeasurement of post-employment benefit obligations

Cumulative currency translation reserve

Total
Other reserves

At 1 January 2017

333

- 15,777

- 77,174

- 92,618

Other comprehensive income

- 5,394

1,560

- 52,510

- 56,344

At 31 December 2017

- 5,061

- 14,217

- 129,684

- 148,962

At 1 January 2018

- 5,061

- 14,217

- 129,684

- 148,962

Other comprehensive income

1,663

4,862

- 15,442

- 8,917

Hedge results transferred to the carrying value of inventory purchased during the year

831

-

-

831

At 31 December 2018

- 2,567

- 9,355

- 145,126

- 157,048

Following the application of IFRS 9 Financial Instruments, from 2018 hedge results transferred from the cash flow hedge reserve to the carrying value of non-financial items are presented separately from Other Comprehensive Income.

In 2017, an amount of €13,162 forms part of Other Comprehensive Income and relates to the reclassification of cumulative currency translation differences to the consolidated Income Statement, following the change in control of Visilab.

The movement in the cash flow hedge reserve per risk category for 2018 can be specified as follows:

in thousands of EUR

Interest risk

Currency risk

Total

Attributable to the equity holders

Non- controlling interest

At 1 January 2018

- 2,353

- 2,447

- 4,800

- 5,061

261

Changes in fair value

- 6,160

5,531

- 629

- 686

57

Reclassified to profit or loss

3,947

- 1,026

2,921

2,914

7

Income tax

553

- 1,139

- 586

- 584

- 2

Exchange differences

-

16

16

19

- 3

Other comprehensive income

- 1,660

3,382

1,722

1,663

59

Amount transferred to the cost of inventory

-

761

761

1,093

- 332

Income tax

-

- 192

- 192

- 262

70

-

569

569

831

- 262

At December 2018

- 4,013

1,504

- 2,509

- 2,567

58