HERMES_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

20.2 Foreign currency adjustments

The change in foreign currency adjustments in 2017 is analysed below:

31/12/2017

31/12/2016

In millions of euros

Balance as at 1st January

163.3 (15.8) (64.0)

165.3

Yen

9.0

US dollar

16.0 (3.7)

Yuan

(6.2) (1.0) (8.0) (7.7)

Rouble

3.1

Pound sterling Macao pataca

(31.5)

1.9 1.5 1.4

Swiss franc

(10.2) (10.9) (30.1)

Singapore dollar Hong Kong dollar Other currencies

(0.9)

4.4

1.1

Balance as at 31 December

13.8

163.3

20.3 Revaluation adjustments

2017 movements in derivatives and financial investments (future cash flow hedges in currencies) break down as follows (after tax):

2017

2016

In millions of euros

Balance as at 1st January

2.8 6.3 0.0

22.2 (1.9)

Amount transferred to equity in the year in respect of derivatives Amount transferred to equity in the year in respect of financial investments

5

0.0

Revaluation of derivatives

59.4 72.7 (9.9)

(6.3)

Revaluation of financial investments

0.0

Other deferred foreign exchange gains/(losses) recognised in comprehensive income

(11.1)

Balance as at 31 December

131.4

2.8

20.4 Income and expenses recognised directly in equity

In 2017, income and expenses recognised directly in equity was broken down as follows:

Gross impact

Tax effect

Net impact

Note

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments

25.3.4

3.4

(12.0)

(8.6)

20.2 20.3

(149.6)

-

(149.6)

196.2

(67.6)

128.6

Other items

-

-

-

Balance as at 31 December 2017

50.0

(79.6)

(29.6)

And for the year 2016

Gross impact

Tax effect

Net impact

Note

In millions of euros

Actuarial gains and losses Foreign currency adjustments Revaluation adjustments

25.3.4

(14.4)

3.1

(11.3)

20.2 20.3

(2.3)

-

(2.3)

(29.0)

9.7

(19.4)

Other items

-

-

-

Balance as at 31 December 2016

(45.7)

12.7

(32.9)

2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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