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20. Fair value and other reserves
Gross Tax Net Gross Tax Net Gross Tax Net
Hedging reserve,
EURm
Availableforsale
Investments,
EURm
Total,
EURm
Balance at December 31, 2006 ................. 69 (19) 50 (66) 2 (64) 3 (17) (14)
Cash flow hedges:
Net fair value gains/(losses) . . . ................ 103 (27) 76 — — — 103 (27) 76
Transfer of (gains)/losses to profit and loss account as
adjustment to Net Sales .................... (794) 214 (580) — — — (794) 214 (580)
Transfer of (gains)/losses to profit and loss account as
adjustment to Cost of Sales . . ................ 684 (185) 499 — — — 684 (185) 499
Availableforsale Investments:
Net fair value gains/(losses) . . . ................ — — — 32 (1) 31 32 (1) 31
Transfer to profit and loss account on impairment . . . — — — 29 — 29 29 — 29
Transfer of net fair value (gains)/losses to profit and
loss account on disposal .................... — — — (12) — (12) (12) — (12)
Movements attributable to minority interests ..... (8) 2 (6) — — — (8) 2 (6)
Balance at December 31, 2007 ................. 54 (15) 39 (17) 1 (16) 37 (14) 23
Cash flow hedges:
Net fair value gains/(losses) . . . ................ 281 (67) 214 — — — 281 (67) 214
Transfer of (gains)/losses to profit and loss account as
adjustment to Net Sales .................... (631) 177 (454) — — — (631) 177 (454)
Transfer of (gains)/losses to profit and loss account as
adjustment to Cost of Sales . . ................ 186 (62) 124 — — — 186 (62) 124
Transfer of (gains)/losses as a basis adjustment to
assets and liabilities . . ..................... 124 (32) 92 — — — 124 (32) 92
Availableforsale Investments:
Net fair value gains/(losses) . . . ................ — — — (29) 9 (20) (29) 9 (20)
Transfer to profit and loss account on impairment . . . — — — 1 — 1 1 — 1
Transfer of net fair value (gains)/losses to profit and
loss account on disposal .................... — — — 13 1 14 13 1 14
Movements attributable to minority interests ..... 87 (21) 66 3 (1) 2 90 (22) 68
Balance at December 31, 2008 ................. 101 (20) 81 (29) 10 (19) 72 (10) 62
Cash flow hedges:
Net fair value gains/(losses) . . . ................ (19) 6 (13) — — — (19) 6 (13)
Transfer of (gains)/losses to profit and loss account as
adjustment to Net Sales .................... 873 (222) 651 — — — 873 (222) 651
Transfer of (gains)/losses to profit and loss account as
adjustment to Cost of Sales . . ................ (829) 205 (624) — — — (829) 205 (624)
Availableforsale Investments:
Net fair value gains/(losses) . . . ................ — — — 36 (4) 32 36 (4) 32
Transfer to profit and loss account on impairment . . . — — — 14 — 14 14 — 14
Transfer of net fair value (gains)/losses to profit and
loss account on disposal .................... — — — (2) — (2) (2) — (2)
Movements attributable to minority interests ..... (65) 16 (49) (2) — (2) (67) 16 (51)
Balance at December 31, 2009 ................. 61 (15) 46 17 6 23 78 (9) 69
The presentation of the “Fair value and other reserves” footnote has been changed to correspond
with the presentation of the Statement of Comprehensive Income.
F56
Notes to the Consolidated Financial Statements (Continued)