20 – Other Comprehensive Income

Unrealized gains/losses from currency translation

Translation adjustments decreased by €139 million year on year. The change arose primarily from the appreciation of the U.S. dollar relative to the euro. This was offset in particular by the development of the Russian ruble.

Cash flow hedges

Hedging future cash flows at Nord Stream AG, Zug, Switzerland, which is accounted for using the equity method, led to a decrease of €11 million in 2018 and a decrease of €17 million in 2017.

Remeasurement of defined benefit plans

Other comprehensive income fell €980 million before taxes in 2018 and rose €1,073 million before taxes in 2017 due to changes in the value of plan assets.