20. Other reserves
Actuarial and other gains or losses recognized through other comprehensive income
(thousands of €) |
2016 |
2015 |
On 1 January |
(18) |
(220) |
Gain or loss (–) on defined benefit obligation recognized through OCI |
(583) |
202 |
Loss on financial asset available-for-sale recognized through OCI |
(399) |
|
Other reserves on 31 December |
(1,000) |
(18) |
Other reserves consisted of (1) a negative of €601 thousand, compared to a negative of €18 thousand in 2015, which was related to the re-measurement of defined benefit obligations recognized through OCI in line with IAS19R, and (2) a negative of €399 thousand, compared to nil in 2015, related to the fair value adjustment on the available-for-sale equity investment in 2016 (see note 14).
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 (2015: nil).
On 31 December 2016 the fair value of our currency derivatives was nil (2015: 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 33 for further information on how we manage financial risks.