CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 29 FINANCIAL RISK MANAGEMENT (continued) Hedge accounting (continued) The following table provides a reconciliation by risk category of components of Unitholders’ Funds resulting from cash flow hedge accounting. Group Trust Hedging reserve $’000 $’000 Cash flow hedges Balance at 1 January 2021 (30,561) (9,980) Changes in fair value: Foreign currency risk 27,580 – Forward exchange contract 1,155 45 Interest rate risk 9,147 5,475 Amounts reclassified to Statement of Total Return: Foreign currency risk (3,599) – Interest rate risk 9,235 3,485 Amounts reclassified to revenue reserve: Interest rate risk (7,224) – Share of movements in hedging reserves of joint ventures 4,845 – Balance at 31 December 2021 10,578 (975) Balance at 1 January 2020 (29,274) (775) Changes in fair value: Foreign currency risk (12,425) – Forward exchange contract (284) – Interest rate risk (12,809) (10,496) Amounts reclassified to Statement of Total Return: Foreign currency risk 19,662 – Interest rate risk 3,695 1,291 Share of movements in hedging reserves of joint ventures 874 – Balance at 31 December 2020 (30,561) (9,980) Annual Report 2021 293