Singapore Airlines 2016 Annual Report Download - page 153
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16 Other Reserves (in $ million) (continued)
(b) Foreign currency translation reserve
The foreign currency translation reserve represents exchange dierences arising from the translation of the financial statements of foreign
operations whose functional currencies are dierent from that of the Group’s presentation currency.
(c) Share-based compensation reserve
Share-based compensation reserve consists of equity-settled share options and awards granted to employees, that is made up of the
cumulative value of services received from employees recorded on grant of equity-settled share options and awards, and equity-settled
share options granted to the shareholders of Tiger Airways pursuant to the Voluntary General Oer (Note 23(g)).
(d) Fair value reserve
Fair value reserve records the cumulative fair value changes of available-for-sale financial assets and the portion of the fair value
changes (net of tax) on derivative financial instruments designated as hedging instruments in cash flow hedges that are determined
to be eective hedges.
Fair value changes of available-for-sale financial assets:
The Group
31 March
The Company
31 March
2016 2015 2016 2015
Balance at 1 April 15.3 (66.9) 13.4 (68.9)
Net gain on fair value changes 109.0 82.2 2.3 82.3
Balance at 31 March 124.3 15.3 15.7 13.4
Gain on fair value changes 103.9 71.1 2.3 67.3
Adjustment on acquisition of an associated company – 15.0 – 15.0
Recognised in the profit and loss account on disposal of
available-for-sale investments 5.1 (3.9) – –
109.0 82.2 2.3 82.3
On 4 July 2014, Virgin Australia became an associated company. It was previously classified as an available-for-sale investment. The
adjustment on acquisition of an associated company of $15.0 million related to the changes in fair value previously recognised in fair
value reserve were reversed to reinstate the investment to its original cost.
Annual Report FY2015/16 151