Notes to the Consolidated Financial Statements in CHF million USD EUR Other Total 2017 Contract face amounts Foreign currency forward contracts 374.8 1.9 348.9 725.6 Contract values Foreign currency forward contracts 1.7 (0.1) (3.6) (2.0) Recognition of contract values Contract values recognized in income statement during current and prior years 0.9 (0.1) (1.9) (1.1) Contract values recognized in the cash flow hedging reserve in equity – – (1.7) (1.7) Contract values from net investment hedge recognized in foreign currency translation reserve 0.8 – – 0.8 Total 1.7 (0.1) (3.6) (2.0) Movements of contract values recognized in the cash flow hedging reserve in equity Opening balance at January 1 (0.8) – 2.2 1.4 Gains/(losses) on cash flow hedges taken to equity – – (1.7) (1.7) (Gains)/losses on cash flow hedges reclassified from equity to income statement 0.8 – (2.2) (1.4) Closing balance at December 31 – – (1.7) (1.7) Movements of contract values recognized in the net investment hedge (CTA) Opening balance at January 1 (1.5) – – (1.5) Gains/(losses) on net investment hedge taken to equity (CTA) 1.0 – – 1.0 Closing balance at December 31 (0.5) – – (0.5) There was no ineffectiveness to be recognized in the income statement. All contracts have a maturity of less than 12 months. 2018 Financial Report | 51