CFM INDOSUEZ Wealth Management - 2019 annual report

111 Annual Financial Statements 2019 31/12/2018 (in thousands of euros) Gains Losses Net Fair value hedges 0 0 0 Changes in fair value of hedged items attributable to the hedged risks Changes in fair value of hedging derivatives (including hedge terminations) Cash flow hedges 0 0 0 Changes in fair value of hedging derivatives - ineffective portion Hedges of net investments in foreign operations 0 0 0 Changes in fair value of hedging derivatives - ineffective portion Fair value hedging of the interest rate risk exposure of a portfolio of financial instruments 1,865 -1,865 0 Changes in fair value of hedged items 1,865 1,865 Changes in fair value of hedging derivatives -1,865 -1,865 Cash flow hedging of the interest rate risk exposure of a portfolio of financial instruments 0 0 0 Changes in the fair value of the hedging instrument - ineffective portion Total gains and losses from hedge accounting 1,865 -1,865 0 4 . 4 n e t g a i n s o r l o s s e s o n f i n a n c i a l i n s t r u m e n t s at f a i r v a l u e t h r o u g h o t h e r c o m p r e h e n s i v e i n c o m e (in thousands of euros) 31/12/2019 31/12/2018 Net gains or losses on debt instruments recognised in other comprehensive income recyclable to income -87 -214 Compensation of equity instruments recognised in other comprehensive income not recyclable to income (dividends) 1 Net gains or losses on financial instruments at fair value through other comprehensive income -87 -213 4 . 5 n e t i n c o m e a n d e x p e n s e s f r o m o t h e r a c t i v i t i e s (in thousands of euros) 31/12/2019 31/12/2018 Gains or losses on non-operating non-current assets Other net income from insurance activities Change in technical reserves of insurance companies Net income from investment properties Other net income (expenses) 542 564 Income (expenses) from other activities 542 564 4 . 6 o p e r at i n g e x p e n s e s (in thousands of euros) 31/12/2019 31/12/2018 Personnel expenses -57,219 -56,577 Taxes and statutory contributions -935 -287 External services and other operating expenses -32,413 -32,904 Operating expenses -90,567 -89,768