21. Other reserves

(in thousands of euros)	Exchange differences reserve	Hedge reserve	Share in OCI of associates	Actuarial gains and losses	Total
Carrying amount as at 1 January 2017	18,201	-57,003	-16,777	-7,351	-62,930

Movements in 2017
Exchange differences	-12,278	-	-	-	-12,278
Currency and interest hedge JPY loan payable
Exchange differences on hedged borrowings	-	14,800	-	-	14,800
Deferred tax on fair value changes on hedged borrowings	-	-3,700	-	-	-3,700
Fair value movements on derivatives	-	-21,164	-	-	-21,164
Deferred tax on fair value movements on derivatives	-	5,291	-	-	5,291
Hedging of cash flow interest-rate risk
Recycling of cash flow hedges to profit and loss	-	9,725	-	-	9,725
Deferred tax on recycling of cash flow hedges	-	-2,358	-	-	-2,358
Currency hedge AUD loan receivable
Exchange differences on hedged loans to associates	-	-2,395	-	-	-2,395
Fair value movements on derivatives	-	2,481	-	-	2,481
Deferred tax on fair value movements	-	-1,570	-	-	-1,570
Other comprehensive income associates	-	-	-6,586	-	-6,586
Actuarial gains and revaluations	-	-	-	-704	-704
Tax effect on actuarial results	-	-	-	176	176
Other	-	-	-	33	33
Total movements in the year	-12,278	1,110	-6,586	-495	-18,249

Balance as at 31 December 2017	5,923	-55,893	-23,363	-7,846	-81,179

Movements in 2018
Exchange differences	-5,928	-	-	-	-5,928
Currency and interest hedge JPY loan payable
Exchange differences on hedged borrowings	-	-11,103	-	-	-11,103
Deferred tax on fair value changes on hedged borrowings	-	2,776	-	-	2,776
Fair value movements on derivatives	-	23,089	-	-	23,089
Deferred tax on fair value movements on derivatives	-	-5,772	-	-	-5,772
Hedging of cash flow interest-rate risk
Recycling of cash flow hedges to profit and loss	-	9,725	-	-	9,725
Deferred tax on recycling of cash flow hedges	-	-2,358	-	-	-2,358
Currency hedge AUD loan receivable
Exchange differences on hedged loans to associates	-	-2,261	-	-	-2,261
Fair value movement derivative	-	2,125	-	-	2,125
Deferred tax on fair value movements		89	-	-	89
Other comprehensive income associates	-	-	-2,015	-	-2,015
Equity movement associates	-	-	-480	-	-480
Actuarial gains and revaluations	-	-	-	-1,845	-1,845
Tax effect on actuarial results	-	-	-	461	461
Other
Impact decrease corporate income taxes	-	-1,374	-	-554	-1,928
Total movements in the year	-5,928	14,934	-2,495	-1,938	4,573

Balance as at 31 December 2018	-5	-40,959	-25,858	-9,784	-76,606

Exchange differences reserve

The exchange differences reserve recognises exchange differences arising on the translation of the net investments in subsidiaries, joint ventures and associates outside the euro zone.

Hedging transactions reserve

This reserve recognises movements in the fair value of derivative financial instruments used in cash flow hedges, net of deferred tax assets and liabilities. It also includes the differences arising on the translation of loans at closing rates. In both cases, recognition in the hedging transactions reserve requires that the hedge is determined to be effective. In cash flow hedging relationships, only the change in fair value of the spot element of forward exchange contracts is designated as the hedging instrument. The change in fair value of the forward element is accounted for as a cost of hedging and is part of the hedging transactions reserve. The cost of hedging included as part of the hedging reserve is 1.6 million euros at 31 December 2018 (31 December 2017: 2.0 million euros).

Further information on the restrictions on the distribution of reserves can be found in note 32. Shareholders' equity in the company balance sheet. The tax effects of the movements in equity, via other comprehensive income, are explained in note 12. Income taxes.

In the hedging reserve the following hedging instruments and relationships are recognised. If the hedging has an impact on the income statement this is indicated in the table below.

(in thousands of euros)		Reclassification to profit or loss in next periods
(in thousands of euros)	Total 2018	< 1 year	> 1 year	> 1 and < 5 years	> 5 years
Forward Starting Rate Swap - refinancing 2013/2014	35,919	7,075	28,844	28,844	-
Lehman derivative - settlement 2008	5,694	291	5,403	1,163	4,240
Exchange difference on hedged JPY loan	30,961	-	30,961	-	30,961
CCIRS derivative hedge Yen loan	-32,302	-	-32,302	-	-32,302
AUD derivative	616	616	-	-	-
Other	71	71	-	-	-
Total	40,959	8,053	32,906	30,007	2,899

(in thousands of euros)		Reclassification to profit or loss in next periods
(in thousands of euros)	Total 2017	< 1 year	> 1 year	> 1 and < 5 years	> 5 years
Forward Starting Rate Swap - refinancing 2013/2014	41,544	7,077	34,467	28,307	6,160
Lehman derivative - settlement 2008	5,984	291	5,693	1,163	4,530
Exchange difference on hedged JPY loan	20,881	-	20,881	-	20,881
CCIRS derivative hedge Yen loan	-13,156	-	-13,156	-	-13,156
AUD derivative	569	569	-	-	-
Other	71	71	-	-	-
Total	55,893	8,008	47,885	29,470	18,415

21. Other reserves

Exchange differences reserve

Hedging transactions reserve

22. Non-controlling interests

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