CASH FLOW HEDGES CASH FLOW HEDGES FAIR VALUE HEDGES AND FINANCIAL DERIVATIVES NOT DESIGNATED AS HEDGING  INSTRUMENTS (ECONOMIC HEDGES) ineffective portion reclassified to the income  statement, but does not include the value of  cash flow hedges closed and not yet trans- ferred to the income statement. The impact on other comprehensive income  from exchange rate instruments relates to  hedges of Group entities’ purchases and sales  in currencies other than their functional cur- rencies. The impact on other comprehensive  income from other instruments relates to  hedges of Group entities’ exposure to changes  in aluminium prices. Cash flow hedges comprise interest rate  swaps where the hedged item is the underly- ing (floating-rate) borrowing (EUR 400m  maturing June 2015), aluminium hedges  where the hedged item is aluminium cans  that will be used in a number of Group enti- ties in Western Europe and Eastern Europe  during 2014 and 2015, and currency swaps to  cover the foreign exchange risk on transac- tions expected to take place in 2014. Fair value adjustments of cash flow hedges  in the financial year are recognised in other  comprehensive income and amounted to  DKK 128m (2012: DKK 327m). The fair value of cash flow hedges recog- nised at 31 December amounted to DKK  -275m (2012: DKK -449m). This includes the  The fair value of the entire derivative classi- fied as a cash flow hedge is presented in the  cash flow hedge section below. Other instru- ments are primarily aluminium hedges, which  were not classified as cash flow hedges. The value of fair value hedges recognised at 31 December amounted to DKK 262m  (2012: DKK 437m).  Consolidated financial statements SECTION 4: FINANCING COSTS, CAPITAL STRUCTURE AND EQUITY 102 DKK million 2013 Fair value adjustment recognised in other comprehensive income Fair value Expected recognition Interest rate instruments 232 -174 2014-2015 Exchange rate instruments -21 27 2014 Other instruments -83 -128 2014-2015 Total 128 -275 2012 Interest rate instruments 244 -452 2013-2015 Exchange rate instruments 24 46 2013 Other instruments 59 -43 2013-2014 Total 327 -449 DKK million Fair value  adjustment  recognised in the  income statement 2013 Fair value Fair value  adjustment  recognised in the  income statement 2012 Fair value Exchange rate instruments -8 264 220 438 Other instruments -6 -2 -5 -1 Ineffective portion of hedge -3 - -26 - Total -17 262 189 437 Value adjustments of fair value hedges  and financial derivatives not designated as  hedging instruments in the financial year  are recognised in the income statement. The  adjustments are included in financial income  and financial expenses (cf. section 4.1). In  2013, fair value adjustments amounted to  DKK -17m (2012: DKK 189m). The ineffective portion of hedge in 2013  relates to the ineffective portion of the Group’s  aluminium hedging scheme (DKK -3m). Carlsberg Group Annual Report 2013