Annual Report 2023

Annual Report 2023

24. Accumulated Other Comprehensive Income

Currency translation adjustment

The currency translation adjustment equity account serves to recognize differences resulting from the translation of the financial statements of affiliates that do not have the euro as their functional currency.

Hedging instruments from cash flow hedges

Changes in the fair value of financial instruments used to hedge future cash flows are reported under this item. As of the reporting date, market values amounting to €7 million (previous year: €26 million) after deduction of deferred taxes of €2 million (previous year: €8 million) were recognized in other comprehensive income.

Debt and equity instruments

This item includes fair value changes amounting to €–8 million (previous year: €–15 million) on securities in the “at fair value through other comprehensive income” category after deduction of deferred taxes of €3 million (previous year €5 million). It also includes impairment of securities in the “at fair value through other comprehensive income” category.

Changes in the fair value of equity instruments allocated to the “at fair value through other comprehensive income” category under IFRS 9 are also recognized here. Changes in the fair value of equity instruments of €3 million were recognized in other comprehensive income in the last fiscal year. Due to the inclusion of S-Biomedic NV in the consolidation group, €4 million of this amount was reclassified to retained earnings. No changes in the fair value of equity instruments were recognized in other comprehensive income for this fiscal year.

Consolidation Group
Parent company and group of subsidiary companies included in the consolidated financial statements.
Deferred Taxes
Balance sheet item for deferred taxes to offset the difference between temporally differing valuations of assets and liabilities between tax balance sheet and those considered in the IFRS statement, as well as from tax loss carryforwards.
Equity
The equity of a company indicates the difference between the value of assets and liabilities.
IAS – International Accounting Standards/IFRS – International Financial Reporting
Standards International accounting standards created by the International Accounting Standards Board (IASB). According to EU regulation, publicly traded companies in Europe must account and report according to these rules.

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