34 » Financial Income/Financial Expenses
Financial result consists of the following:
|
|
Year ending Dec. 31, 2020 |
|
Year ending Dec. 31, 2019 |
|---|---|---|---|---|
Interest income from financial instruments measured at amortized cost |
|
23 |
|
50 |
Interest income from financial instruments at fair value through profit or loss |
|
– |
|
0 |
Interest income from non-financial assets |
|
2 |
|
0 |
Net foreign exchange gains |
|
– |
|
– |
Other |
|
4 |
|
14 |
Financial income |
|
29 |
|
64 |
|
|
Year ending Dec. 31, 2020 |
|
Year ending Dec. 31, 2019 |
|---|---|---|---|---|
Interest expense on financial instruments measured at amortized cost |
|
164 |
|
160 |
Thereof: interest expense on lease liabilities |
|
90 |
|
101 |
Interest expense on financial instruments at fair value through profit or loss |
|
– |
|
0 |
Interest expense on other provisions and non-financial liabilities |
|
– |
|
0 |
Net foreign exchange losses |
|
37 |
|
5 |
Other |
|
3 |
|
1 |
Financial expenses |
|
204 |
|
166 |
Interest income from financial instruments, measured at amortized cost, mainly consists of interest income from bank deposits and loans.
Interest income/expense from financial instruments at fair value through profit or loss mainly includes interest payments from investment funds as well as net interest payments from interest derivatives not being part of a hedging relationship. Unrealized gains/losses from fair value measurement of such financial assets are shown in other financial income or expenses.
Interest expense on financial instruments measured at amortized cost mainly includes interest on lease liabilities as well as interest on borrowings and effects from using the ‘effective interest method’. This position includes transaction costs of € 9 million that were incurred as part of the revolving syndicated loan with the participation of Germany’s state-owned development bank KfW which were recognized in the income statement in 2020 due to the early redemption.
Interest expense on other provisions, and non-financial liabilities in particular, include effects from the measurement of other provisions at present value and interest on non-financial liabilities such as tax payables.
Information regarding investments, borrowings and financial instruments is also included in these Notes. Note 06 Note 15 Note 18 Note 30