CURRENCY GAINS / (LOSSES)

12 Months Ended

Dec. 31, 2020

Analysis of income and expense [abstract]

NOTE 9 - CURRENCY GAINS / (LOSSES)


		Year ended December 31,
(in millions of Euros)	Notes	2020	2019	2018
Included in Revenue	22	(6)	(7)	2
Included in Cost of sales		(2)	1	2
Included in Other gains and losses - net		(19)	9	7
Total		(27)	3	11

Realized exchange (losses) / gains on foreign currency derivatives - net	22	(11)	1	11
Losses reclassified from OCI as a result of hedge accounting discontinuation	22	(6)	—	—
Unrealized (losses) / gains on foreign currency derivatives - net	22	(8)	1	(3)
Exchange (losses) / gains from the remeasurement of monetary assets and liabilities - net		(2)	1	3
Total		(27)	3	11

See NOTE 21 - Financial Instruments and NOTE 22 - Financial Risk Management for further information regarding the Company’s foreign currency derivatives and hedging activities.

Foreign currency translation reserve


	At December 31,
(in millions of Euros)	2020	2019
Foreign currency translation reserve at January 1	4	3
Effect of currency translation differences	(17)	1
Foreign currency translation reserve at December 31	(13)	4