Foreign currency translation reserve
The foreign currency translation reserve comprises:
all foreign exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from the functional currency of the Company;
the effective portion of the cumulative net change in fair value of foreign currency loans used to hedge the Group’s net investment in foreign operations;
foreign exchange differences on monetary items which form part of the Group’s net investment in foreign operations; and
the Group’s share of foreign currency translation reserve of associates.
The hedging reserve comprises:
the effective portion of the cumulative net change in fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred; and
the Group’s share of hedging reserve of associates.
Fair value reserve
The fair value reserve comprises:
the cumulative net changes in the fair values of available-for-sale financial assets until the investment is derecognised; and
the Group’s share of fair value reserve of associates.
Every Note Counts
N otes to the Financial Statements
Year ended 31 December 2010