20 – Other comprehensive income

Translation adjustments

Especially the increase in the value of the euro, relative to the U.S. dollar, in 2017 led to a decrease of €2.081 million in the translation adjustment to minus €605 million.

Cash flow hedges

Hedging future cash flows at Nord Stream AG, Zug, Switzerland, a company accounted for using the equity method, resulted in a change of minus €17 million in 2017 and of minus €7 million in 2016.

Remeasurement of defined benefit plans

In 2017, other comprehensive income increased by €1,073 million before taxes due to the positive development of plan assets. In 2016, the change amounting to minus €1,842 million was particularly due to the increase in defined benefit obligations, which resulted from the significant decrease in the discount rate over the course of the year.