Nokia 2007 Annual Report Download - page 188

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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, 2004 .. 14 (3) 11 7 (5) 2 21 (8) 13
Cash flow hedges:
Net fair value gains/(losses) .... (327) 84 (243) — (327) 84 (243)
Transfer to profit and loss
account as adjustment to Net
Sales .................... 568 (147) 421 568 (147) 421
Transfer to profit and loss
account as adjustment to
Cost of Sales .............. (418) 108 (310) — (418) 108 (310)
Availableforsale Investments:
Net fair value gains/(losses) .... (69) 6 (63) (69) 6 (63)
Transfer to profit and loss
account on impairment ..... —— 9—9 9— 9
Transfer of net fair value
(gains)/losses to profit and
loss account on disposal ..... (3) — (3) (3) (3)
Balance at December 31, 2005 .. (163) 42 (121) (56) 1 (55) (219) 43 (176)
Cash flow hedges:
Net fair value gains/(losses) .... 61 (16) 45 — — 61 (16) 45
Transfer to profit and loss
account as adjustment to Net
Sales .................... (243) 68 (175) — (243) 68 (175)
Transfer to profit and loss
account as adjustment to
Cost of Sales .............. 414 (113) 301 414 (113) 301
Availableforsale Investments:
Net fair value gains/(losses) .... (42) 1 (41) (42) 1 (41)
Transfer to profit and loss
account on impairment ..... 18 — 18 18 18
Transfer of net fair value
(gains)/losses to profit and
loss account on disposal ..... 14 — 14 14 14
Balance at December 31, 2006 .. 69 (19) 50 (66) 2 (64) 3 (17) (14)
F45
Notes to the Consolidated Financial Statements (Continued)