20. Other reserves

20. Other reserves

Actuarial and other gains or losses recognized through other comprehensive income

 

31 December

(thousands of €)

2017

2016

On 1 January

(1,000)

(18)

Gain or loss (–) on defined benefit obligation recognized through OCI

(40)

(583)

Reclassification of loss on financial asset available for sale to income statement (after disposal)

55

 

Loss on financial asset available for sale recognized through OCI

(275)

(399)

Other reserves on 31 December

(1,260)

(1,000)

Other reserves consisted of (1) a negative of €0.6 million, compared to a negative of €0.6 million in 2016, which was related to the re-measurement of defined benefit obligations recognized through OCI in line with IAS19R Employee Benefits, and (2) a negative of €0.6 million, compared to €0.4 million in 2016, related to the fair value adjustment on and sale of part of the available-for-sale equity investment (see note 14).

There were no tax effects applicable to the amounts included in other reserves.

Derivative financial instruments: currency derivatives

We do not actively use currency derivatives to hedge planned future cash flows. On the balance sheet date, total notional amount of outstanding forward foreign exchange contracts that we have committed are nil (2016: nil).

On 31 December 2017 the fair value of our currency derivatives was nil (2016: nil).

See note 32 for further information on how we manage financial risks.