The reserves related to the valuation at fair value of cash flow hedging derivatives, available-for-sale financial instruments and defined benefit plans, net of the related tax effect, consisted of the following:
| Cash flow hedge derivatives |
Available-for-sale financial instruments |
Defined benefit plans | Total | |||||||||||||||||||||||||||||||||||||||||||||
| (€ million) |
Gross reserve |
Deferred tax liabilities |
Net reserve |
Gross reserve |
Deferred tax liabilities |
Net reserve |
Gross reserve |
Deferred tax liabilities |
Net reserve |
Gross reserve |
Deferred tax liabilities |
Net reserve | ||||||||||||||||||||||||||||||||||||
| Reserve as of December 31, 2016 | 246 | (57 | ) | 189 | 5 | (1 | ) | 4 | (99 | ) | (13 | ) | (112 | ) | 152 | (71 | ) | 81 | ||||||||||||||||||||||||||||||
| Changes of the year 2017 | (59 | ) | 14 | (45 | ) | (5 | ) | 1 | (4 | ) | (33 | ) | 29 | (4 | ) | (97 | ) | 44 | (53 | ) | ||||||||||||||||||||||||||||
| Foreign currency translation differences | (1 | ) | 3 | 2 | (1 | ) | 3 | 2 | ||||||||||||||||||||||||||||||||||||||||
| Reversal of the year 2017 | 53 | (14 | ) | 39 | 53 | (14 | ) | 39 | ||||||||||||||||||||||||||||||||||||||||
| Reserve as of December 31, 2017 | 240 | (57 | ) | 183 | (133 | ) | 19 | (114 | ) | 107 | (38 | ) | 69 | |||||||||||||||||||||||||||||||||||
| Reserve as of December 31, 2015 | (637 | ) | 163 | (474 | ) | 9 | (1 | ) | 8 | (111 | ) | 10 | (101 | ) | (739 | ) | 172 | (567 | ) | |||||||||||||||||||||||||||||
| Changes of the year 2016 | 360 | (90 | ) | 270 | (3 | ) | (3 | ) | 16 | (35 | ) | (19 | ) | 373 | (125 | ) | 248 | |||||||||||||||||||||||||||||||
| Foreign currency translation differences | (4 | ) | 12 | 8 | (4 | ) | 12 | 8 | ||||||||||||||||||||||||||||||||||||||||
| Reversal of the year 2016 | 523 | (130 | ) | 393 | (1 | ) | (1 | ) | 522 | (130 | ) | 392 | ||||||||||||||||||||||||||||||||||||
| Reserve as of December 31, 2016 | 246 | (57 | ) | 189 | 5 | (1 | ) | 4 | (99 | ) | (13 | ) | (112 | ) | 152 | (71 | ) | 81 | ||||||||||||||||||||||||||||||