IFRS 9 para 6.5.11 (d) (i), gains or losses on cash flow hedges transferred from equity direct to non-financial assets and liabilities and not shown in OCI as reclassifications

Drax plc – Annual report – 31 December 2018

Industry: utilities

drax1

8.3 ADOPTION OF NEW ACCOUNTING STANDARDS AND CHANGE IN PRESENTATION OF INCOME STATEMENT (extract)
(a) Adoption of IFRS 9 (extract)
Fair value gains and losses on cash flow hedges of £85.7 million that relate to fuel purchases, which were recycled to inventory in the balance sheet, have been restated as though they were released directly from reserves and therefore are no longer recognised in Other comprehensive income. The related deferred tax of £(15.6) million has also been reallocated.

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