The table below shows the movement in the cash flow hedging reserve during the year, including the gains or losses arising on the revaluation of hedging instruments during the year and the amount reclassified from Other Comprehensive Income ("OCI") to the Consolidated Statement of Profit or Loss in the year.



	Cross currency interest rate swaps		Forward currency contracts		Total Cash flow hedge reserve
	€m		€m		€m
Balance as of January 1, 2017	—		8.4		8.4
Change in fair value of hedging instrument recognized in OCI for the year	(56.8	)	(19.7	)	(76.5	)
Reclassified to cost of goods sold	—		3.8		3.8
Reclassified from OCI to finance costs	56.3		—		56.3
Deferred tax	0.1		4.9		5.0
Balance as of December 31, 2017	(0.4	)	(2.6	)	(3.0	)
Change in fair value of hedging instrument recognized in OCI for the year	49.5		20.3		69.8
Reclassified to cost of goods sold	—		(6.4	)	(6.4	)
Reclassified from OCI to finance costs	(47.9	)	—		(47.9	)
Deferred tax	(0.3	)	(3.7	)	(4.0	)
Balance as of December 31, 2018	0.9		7.6		8.5
Change in fair value of hedging instrument recognized in OCI for the year	28.1		3.8		31.9
Reclassified to cost of goods sold	—		(21.8	)	(21.8	)
Reclassified from OCI to finance costs	(37.4	)	—		(37.4	)
Deferred tax	1.6		4.0		5.6
Balance as of December 31, 2019	(6.8	)	(6.4	)	(13.2	)