20. Other reserves
Actuarial gains or losses recognized through other comprehensive income
|
Year ended 31 December |
|
(thousands of €) |
2015 |
2014 |
On 1 January |
(220) |
47 |
Actuarial gains or losses (–) recognised through OCI |
202 |
(267) |
Other reserves on 31 December |
(18) |
(220) |
The other reserves amounted to a negative of €18 thousand (2014: €220 thousand) and related to the re-measurement of defined benefit obligations booked through OCI in line with IAS19R.
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 (2014: nil).
On 31 December 2015 the fair value of our currency derivatives is nil (2014: nil).
We do not designate our foreign currency denominated debt as a hedge instrument for the purpose of hedging the translation of our foreign operations.
See note 34 for further information on how we manage financial risks.