Annual report 2019

111

OTHER RESERVES Movements in other reserves:

Legal reserves

CURRENCY TRANSLATION RESERVE

HEDGING RESERVE

REVALUATION RESERVE

OTHER LEGAL

TOTAL OTHER RESERVES

RESERVES OTHER RESERVES

Note

[23.6.1]

[23.6.2]

[23.6.3]

[23.6.4]

[23.6.5]

- 11,192

101,996

231,909

132,781

- 25,762

429,732

Balance as at 1 January 2019

Defined benefit plan actuarial gains/losses (-) and asset limitation, after income tax Foreign currency translation differences for foreign operations, after income tax Currency translation differences from joint ventures and associates, after tax Effective cash flow hedges, after income tax Change in fair value of cash flow hedges from joint ventures and associates, after tax Realization through sale of underlying asset Reclassification relating to settlement of pension plans Reclassification of foreign currency differences to statement of profit or loss Reclassification of hedge reserve to statement of profit or loss

-

-

-

-

- 5,970

- 5,970

-

-

22,183

-

-

22,183

-

- -

1,326

- -

- -

1,326 3,217

3,217

-

- 11,501

-

- -

- -

- -

- 11,501 - 21,392

-

- 21,392

-

-

-

-

11,249

11,249

-

-

- 42,252

-

-

- 42,252

18,955

- -

- -

-

- -

18,955 - 1,430 - 25,615

Movement in legal reserve

-

- 1,430 - 1,430

Total movements

10,671

- 21,392

- 18,743

5,279

Balance as at 31 December 2019

- 521

80,604

213,166

131,351

- 20,483

404,117

Legal reserves

CURRENCY TRANSLATION RESERVE

HEDGING RESERVE

REVALUATION RESERVE

OTHER LEGAL

TOTAL OTHER RESERVES

RESERVES OTHER RESERVES

Note

[23.6.1]

[23.6.2]

[23.6.3]

[23.6.4]

[23.6.5]

5,466

101,996

199,777

221,970

- 21,856

507,353

Balance as at 1 January 2018

Defined benefit plan actuarial gains/losses (-) and asset limitation, after income tax Foreign currency translation differences for foreign operations, after income tax Currency translation differences from joint ventures and associates, after tax Effective cash flow hedges, after income tax Change in fair value of cash flow hedges from joint ventures and associates, after tax

-

-

-

-

- 3,906

- 3,906

-

-

36,349

-

-

36,349

-

- -

- 4,217

- -

- -

- 4,217 - 16,485

- 16,485

-

- 173

- - -

- -

-

- -

- 173

Movement in legal reserve

-

- 89,189 - 89,189

- 89,189 - 77,621

- 16,658

32,132

- 3,906

Total movements

- 11,192

101,996

231,909

132,781

- 25,762

429,732

Balance as at 31 December 2018

Under Dutch law the legal reserves are not available for dividend distribution to shareholders.

23.6.1 HEDGING RESERVE (LEGAL RESERVE) The hedging reserve comprises the fair value of effective cash flow hedges, not yet realized at the balance sheet date, net of taxation, including results realized on the ‘rolling forward’ of existing hedges as a result of differences between the duration of the hedges concerned and the underlying cash flows. An amount of EUR 1.0 million (2018: EUR 1.0 million) is included in the hedging reserve relating to discontinued hedges. This will be recognized in the income statement when the future cash flows, that were designated as hedged items, occur. Details about the movements in the hedging reserve are disclosed in note 29.2.

ANNUAL REPORT 2019 – BOSKALIS A NUAL REPORT 2019 -- BOSKALIS