1.
Share option reserve (i) €’000
Cash flow hedge reserve (ii) €’000
2.
Cost of hedging reserve (iii) €’000
3. Financial Statements
Put option reserve (iv) €’000
Other equity reserves Total €’000
Balance as at 1 January 2018 as presented in the balance sheet Adjustment on adoption of IFRS 9 on 1 January 2018 Adjust for NCI subject to put option transferred for presentation purposes
1,444 – –
(231) 51 –
– (51) –
(12,173) – (26,788)
(10,960) – (26,788)
Balance at 1 January 2018
1,444
(180)
(51)
(38,961)
(37,748)
Comprehensive income Profit for the year
–
–
–
–
–
Other comprehensive income: Items that may be reclassified subsequently to profit or loss: Currency translation Effective portion of cash flow hedges, net Changes in fair value of cost of hedging, net Deferred tax on items above Share of joint ventures and associates effective portion of cash flow hedges Share of joint ventures and associates deferred tax on items above
– – – – – –
– 248 – (65) 51 696
– – (14) 2 – –
154 – – – – –
154 248 (14) (63) 51 696
Total other comprehensive income
–
930
(12)
154
1,072
Total comprehensive income
–
930
(12)
154
1,072
(97) – – 557
– – – –
– – – –
– (896) 4,728 –
(97) (896) 4,728 557
Transactions with equity holders of the parent New shares issued Recognition of put option liability on acquisition (Note 27) Fair value movements on put option liability (Note 27) Share-based payment transactions (Note 31) Total transactions with equity holders of the parent Balance at 31 December 2018 Transfer of NCI subject to put options for presentation purposes (Note 21) Balance at 31 December 2018 as presented in the balance sheet
460
–
–
3,832
4,292
1,904
750
(63)
(34,975)
(32,384)
–
–
–
34,673
34,673
1,904
750
(63)
(302)
2,289
(i) Share option reserve The share option reserve comprises the amounts expensed in the income statement in connection with share-based payment transactions. When options vest or lapse, the fair value of the share options is reclassified to retained earnings. (ii) Cash flow hedge reserve The cash flow hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. (iii) Cost of hedging reserve The cost of hedging reserve comprises the effective portion of the net change in the fair value of hedging instruments attributable to forward points. (iv) Put option reserve The Group has a number of contractual put options and forward commitments in place in relation to non-controlling interest (‘NCI’) shares in subsidiaries whereby the NCI shareholder can require the Group to acquire or the Group has agreed to acquire (‘forward commitment’) the shares in these subsidiaries at various future dates. The value of the put option or forward commitment liability recognised and subsequent fair value movements are recognised in the put option reserve. For presentation purposes in the balance sheet, the NCI subject to the put is transferred to the put option reserve in equity.
123 Total Produce plc Annual Report and Accounts 2018