31. Valuation adjustments
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(*) Actuarial gains and losses (see note 2.2.12)
The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:
Valuation Adjustments | Notes | Millions of Euros | ||
---|---|---|---|---|
2011 | 2010 | 2009 | ||
Available-for-sale financial assets | 12.4 | (682) | 333 | 1,951 |
Cash flow hedging |
|
30 | 49 | 188 |
Hedging of net investments in foreign transactions |
|
(158) | (158) | 219 |
Exchange differences |
|
(1,937) | (978) | (2,236) |
Non-current assets held for sale |
|
- | - | - |
Entities accounted for using the equity method |
|
188 | (16) | (184) |
Other valuation adjustments (*) |
|
(228) | - | - |
Total |
|
(2,787) | (770) | (62) |
The balances recognized under these headings are presented net of tax.