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Other comprehensive income (Tables)
 12 Months Ended
Dec. 31, 2020
Other comprehensive income  
Schedule of Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2019

 

2018

EURm

    

Gross

    

Tax

    

Net

    

Gross

    

Tax

    

Net

    

Gross

    

Tax

    

Net

Pension remeasurements

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Remeasurements of defined benefit plans

 

624

 

(140)

 

484

 

414

 

(95)

 

319

 

388

 

(90)

 

298

Net change during the year

 

624

 

(140)

 

484

 

414

 

(95)

 

319

 

388

 

(90)

 

298

Translation differences

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Exchange differences on translating foreign operations

 

(1 232)

 

 1

 

(1 231)

 

259

 

 –

 

259

 

443

 

 1

 

444

Transfer to income statement

 

 –

 

 –

 

 –

 

 1

 

 –

 

 1

 

(42)

 

 –

 

(42)

Net change during the year

 

(1 232)

 

 1

 

(1 231)

 

260

 

 –

 

260

 

401

 

 1

 

402

Net investment hedges(1)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Net investment hedging gains/(losses)

 

266

 

42

 

308

 

(58)

 

12

 

(46)

 

(79)

 

16

 

(63)

Transfer to income statement

 

 –

 

 –

 

 –

 

 –

 

 –

 

 –

 

 6

 

(1)

 

 5

Net change during the year

 

266

 

42

 

308

 

(58)

 

12

 

(46)

 

(73)

 

15

 

(58)

Cash flow and other hedges(2)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Net fair value gains/(losses)

 

 1

 

(1)

 

 –

 

(64)

 

13

 

(51)

 

(44)

 

 8

 

(36)

Transfer to income statement

 

14

 

(3)

 

11

 

62

 

(12)

 

50

 

(9)

 

 2

 

(7)

Net change during the year

 

15

 

(4)

 

11

 

(2)

 

 1

 

(1)

 

(53)

 

10

 

(43)

Financial assets at fair value through other comprehensive income

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Net fair value losses

 

(213)

 

38

 

(175)

 

(126)

 

25

 

(101)

 

(144)

 

28

 

(116)

Transfer to income statement on loss allowance

 

229

 

(46)

 

183

 

40

 

(8)

 

32

 

33

 

(8)

 

25

Transfer to income statement on disposal

 

31

 

(6)

 

25

 

94

 

(19)

 

75

 

66

 

(13)

 

53

Net change during the year

 

47

 

(14)

 

33

 

 8

 

(2)

 

 6

 

(45)

 

 7

 

(38)

Other increase

 

 3

 

 –

 

 3

 

 –

 

 –

 

 –

 

 1

 

 –

 

 1

Total

 

(277)

 

(115)

 

(392)

 

622

 

(84)

 

538

 

619

 

(57)

 

562

(1)   In 2020, income tax related to net investment hedging gains includes EUR 94 million related to the derecognition of deferred tax assets in Finland. For more information, refer to Note 12, Income taxes.

(2)   Includes movements in cash flow hedging reserve and related cost of hedging reserve