20. Other reserves

20. Other reserves

Actuarial and other gains or losses recognized through other comprehensive income

(thousands of €)



On 1 January



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



Loss on financial asset available-for-sale recognized through OCI



Other reserves on 31 December



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.