NOTE 11
Components of other comprehensive income and related tax |
2011 | ||
| Before tax | Tax charge/ credit |
After tax | |
| Currency translation differences relating to a foreign operation | -17.3 | -17.3 | |
| Hyperinflation adjustments | 6.3 | 6.3 | |
| Cash flow hedge revaluation | -15.0 | 3.9 | -11.1 |
| Revaluation of available-for-sale financial assets | 0.1 | 0.0 | 0.1 |
| Other components | -0.1 | -0.1 | |
| Total | -26.0 | 3.9 | -22.1 |
Components of other comprehensive income and related tax |
2010 | ||
| Before tax | Tax charge/ credit |
After tax | |
| Currency translation differences relating to a foreign operation | 4.9 | 4.9 | |
| Cash flow hedge revaluation | 20.8 | -5.4 | 15.4 |
| Revaluation of available-for-sale financial assets | 1.2 | -0.3 | 0.9 |
| Other components | -0.7 | -0.7 | |
| Total | 26.1 | -5.7 | 20.4 |
Since December 2011, Belarus has been considered as a hyperinflationary economy to which accounting in accordance with IAS 29 shall be applied. The Kesko Group has applied hyperinflationary accounting to the measurement of its balance sheet as at 31 December 2011. Hyperinflationary accounting requires the presentation of financial statements in the measurement units as at the end of the reporting period irrespective of their statement at original cost or current cost. The amounts recognised in the balance sheet have been restated using the general price index. As a result of the revaluation of the assets, an amount of €6.3 million including tax was recognised in equity, of which the Group’s interest is €0.6 million and the non-controlling interest is €5.7 million. The revaluation have been made using the Belarusian price index.