Currency Gains / (Losses)

6 Months Ended

Jun. 30, 2018

NOTE 6 - CURRENCY GAINS / (LOSSES)

Currency gains and losses, which are included in Income from operations, are as follows:


(in millions of Euros)	Notes		Three months ended June 30, 2018			Three months ended June 30, 2017			Six months ended June 30, 2018		Six months ended June 30, 2017
Included in Revenue		19		1			1			3		(1	)
Included in Cost of sales				2			(2	)		—		(2	)
Included in Other gains / (losses) – net				3			4			3		(2	)

Total				6			3			6		(5	)

Realized exchange (losses) / gains on foreign currency derivatives – net		19		(1	)		(1	)		1		(11	)
Unrealized gains on foreign currency derivatives – net		19		4			7			3		13
Exchanges gains / (losses) from the remeasurement of monetary assets and liabilities – net				3			(3	)		2		(7	)

Total				6			3			6		(5	)

See NOTE 18 – Financial Instruments and NOTE 19 – Financial Risk Management for further information regarding the Company’s foreign currency derivatives and hedging activities.