Page 205 - ENAV eng_Relazione_Finanziaria_Annuale_2014
P. 205
Notes to the Financial Statements of ENAV SpA 203
The cash flow hedge reserve arises on the fair value measurement fair value
of derivatives. There was an increase in this reserve of ¤1,834 thousand
during the year, net of the tax effect.
Retained earnings/(accumulated losses) consist of the results achieved
in previous years.The balanceincreased by ¤652 thousand in 2014 as the
result of the allocation of 2013 net income.
The following table provides a summary of the purposes for which the
equity reserves may be used in accordance with the requirements of article
2427 of the Italian civil code and IAS 1.
Amount Possible use Available portion
A. B. C 33,314
Capital reserves A.B 13,935
Other reserves 33,314 A. B. C 81,479
Revenue reserves
Legal reserve 13,935
Reserve for actuarial gains/(losses) (6,974)
on employee benefits
Cash flow hedge reserve 1,348
Retained earnings/(accumulated losses) 81,479
Total reserves 123,102
A: increase in share capital; B: absorption of losses C: distribution to shareholders.
