Financial Risk Management (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Effect of Foreign Currency Derivatives Impacts in Consolidated Income Statement and Statement of Comprehensive Income/(Loss)

The table below details the effect of foreign currency derivatives in the Unaudited Interim Income Statement and the Unaudited Interim Statement of Comprehensive Income / (Loss):


			Three months			Three months			Six months			Six months
			ended June 30,			ended June 30,			ended June 30,			ended June 30,
(In millions of Euros)	Notes		2019			2018			2019			2018
Derivatives that do not qualify for hedge accounting
Included in Other gains / (losses) – net
Realized gains / (losses) on foreign currency derivatives – net		7		2			(1	)		4			(2	)
Unrealized (losses) / gains on foreign currency derivatives – net ^(A)		7		(1	)		5			1			4
Derivatives that qualify for hedge accounting
Included in Revenue
Realized (losses) / gains on foreign currency derivatives – net		7		(1	)		2			(2	)		4
Unrealized (losses) on foreign currency derivatives – net		7		—			(1	)		—			(1	)
Included in Other gains / (losses) – net
Realized losses on foreign currency derivatives – net		7		(1	)		(2	)		(1	)		(1	)
Unrealized gains / (losses) on foreign currency derivatives – net		7		—			—			—			—
Included in other comprehensive income / (loss)
Unrealized gains / (losses) on foreign currency derivatives – net				1			(22	)		(7	)		(11	)
Gains / (Losses) reclassified from cash flow hedge reserve to Consolidated Income Statement				1			(1	)		2			(3	)

(A) Gains or losses on the hedging instruments are expected to offset losses or gains on the underlying hedged forecasted sales that will be reflected in future periods when these sales are recognized.