Chapters
Annual Report 2020

19. 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 23 for more details on the Group's derivatives and hedge accounting. Transfer from the cash flow hedge reserve to the carrying value of inventory at initial recognition, is presented separately from consolidated Other Comprehensive Income.

Remeasurement of post-employment benefit obligations contains remeasurement of gains and losses related to both defined benefit obligations and fair value of plan assets arising from experience adjustments and changes in actuarial assumptions. See note 24 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 2019

- 2,567

- 9,355

- 145,126

- 157,048

Other comprehensive income

- 3,269

- 17,266

13,857

- 6,678

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

- 3,896

-

-

- 3,896

At 31 December 2019

- 9,732

- 26,621

- 131,269

- 167,622

At 1 January 2020

- 9,732

- 26,621

- 131,269

- 167,622

Other comprehensive income

- 2,143

- 7,631

- 46,361

- 56,135

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

59

-

-

59

At 31 December 2020

- 11,816

- 34,252

- 177,630

- 223,698

In 2020, the negative impact of exchange difference on the currency translation reserve resulted from the translation of the financial statements of foreign entities mainly in the UK (G4 segment), Mexico and Turkey (Americas & Asia segment).

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

Interest risk

Currency risk

Total

Attributable to the equity holders

Non- controlling interest

At 1 January 2019

- 4,013

1,504

- 2,509

- 2,567

58

Changes in fair value

- 8,931

1,504

- 7,427

- 7,415

- 12

Reclassified to profit or loss

3,170

3

3,173

3,165

8

Income tax

1,472

- 451

1,021

1,012

9

Exchange differences

-

- 29

- 29

- 31

2

Other comprehensive income

- 4,289

1,027

- 3,262

- 3,269

7

Amount transferred to the cost of inventory

-

- 5,503

- 5,503

- 5,289

- 214

Income tax

-

1,428

1,428

1,393

35

-

- 4,075

- 4,075

- 3,896

- 179

At 31 December 2019

- 8,302

- 1,544

- 9,846

- 9,732

- 114

At 1 January 2020

- 8,302

- 1,544

- 9,846

- 9,732

- 114

Changes in fair value

- 3,296

- 2,912

- 6,208

- 6,262

54

Reclassified to profit or loss

3,213

47

3,260

3,260

-

Income tax

20

878

898

897

1

Exchange differences

- 44

- 44

- 38

- 6

Other comprehensive income

- 63

- 2,031

- 2,094

- 2,143

49

Amount transferred to the cost of inventory

-

- 65

- 65

166

- 231

Income tax

-

- 60

- 60

- 107

47

-

- 125

- 125

59

- 184

At 31 December 2020

- 8,365

- 3,700

- 12,065

- 11,816

- 249