Cash flow hedging reserve comprises changes in the valuation of foreign-currency denominated credit facilities used as  hedging instruments to hedge cash flows, less the effect of corporate income tax. In H2 2012, the Company extended the scope of application of cash flow hedge accounting through the establishment of new hedging relationships with respect to foreign-currency denominated credit facilities intended for financing of the 10+ Programme, designated as hedges of future USD-denominated petroleum product sales transactions.