14. INCOME TAX RELATING TO COMPONENTS OF OTHER COMPREHENSIVE INCOME
Group |
Note |
2013 €'000 |
2012 €'000 |
|---|---|---|---|
| Movement in cash flow hedge reserve before tax | 36 | 256,012 | (439,821) |
| Movement in available for sale reserve before tax | 36 | (4,127) | 2,297 |
| Total movement | 251,885 | (437,524) | |
| Deferred tax (expense)/benefit | 28 | (65,134) | 107,451 |
| Total income tax relating to components of other comprehensive income | (65,134) |
107,451 |
The movement in the cash flow hedge reserve represents a temporary difference between the tax base of the derivatives where hedge accounting has been applied and their fair value. The movement in the available for sale reserve represents a temporary difference between the tax base of available for sale financial assets and their fair value. The Group has recognised a deferred tax asset on the temporary difference that arises on the cash flow hedge and available for sale reserve.