(40) Finance income and expenses / Net gains and losses from financial instruments
Finance income and expenses were as follows:
€ million |
|
2020 |
|
2019 |
|---|---|---|---|---|
Interest income and similar income |
|
39 |
|
66 |
Income from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
4 |
|
5 |
Income from the change of the fair value of share-based compensation programs |
|
– |
|
14 |
Currency differences from financing activities |
|
– |
|
12 |
Finance income |
|
44 |
|
97 |
|
|
|
|
|
Interest expenses and similar expenses |
|
-387 |
|
-430 |
Capital loss from disposal of debt instruments with subsequent measurement at amortized cost |
|
– |
|
-1 |
Expenses from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
-3 |
|
-5 |
Expenses from fair value changes of share-based compensation programs |
|
-5 |
|
– |
Currency differences from financing activities |
|
-3 |
|
– |
Other interest expenses |
|
– |
|
-46 |
Finance costs |
|
-398 |
|
-481 |
|
|
|
|
|
Financial result |
|
-354 |
|
-385 |
Interest income and expenses and similar income and expenses were as follows:
|
|
2020 |
|
2019 |
||||
|---|---|---|---|---|---|---|---|---|
€ million |
|
Interest income |
|
Interest expenses |
|
Interest income |
|
Interest expenses |
Financial instruments |
|
26 |
|
-246 |
|
27 |
|
-270 |
Leases |
|
– |
|
-15 |
|
– |
|
-14 |
Pension provisions |
|
– |
|
-39 |
|
– |
|
-47 |
Other non-current provisions |
|
– |
|
-20 |
|
– |
|
-26 |
Other interest income/expenses and similar income and expenses |
|
13 |
|
-75 |
|
39 |
|
-86 |
Capitalized borrowing costs for |
|
– |
|
8 |
|
– |
|
13 |
Property, plant and equipment |
|
– |
|
4 |
|
– |
|
11 |
Other intangible assets |
|
– |
|
4 |
|
– |
|
2 |
Interest income/expenses and similar income and expenses |
|
39 |
|
-387 |
|
66 |
|
-430 |
The decrease in interest expenses due to financial instruments compared with the previous year is primarily attributable to lower interest payments on bonds.
The following table shows the development of net gains and losses, interest income and expenses, currency differences as well as dividend income from financial instruments (excluding items recognized in other comprehensive income) by measurement category in the period under review:
|
|
|
|
|
|
Interest result |
|
Net gains and losses |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Currency differences |
|
Dividends |
|
Interest income |
|
Interest expenses |
|
Impairment losses |
|
Reversals of impairment losses |
|
Fair value adjustments |
|
Disposal gains/ losses |
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
-10 |
|
|
|
5 |
|
|
|
-81 |
|
75 |
|
|
|
– |
Subsequent measurement at fair value through other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Instruments |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at fair value through profit or loss |
|
-1 |
|
– |
|
21 |
|
– |
|
|
|
|
|
-884 |
|
|
Financial debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
1 |
|
|
|
|
|
-244 |
|
|
|
|
|
|
|
– |
Subsequent measurement at fair value through profit or loss |
|
– |
|
|
|
– |
|
-2 |
|
|
|
|
|
822 |
|
|
Total |
|
-10 |
|
1 |
|
26 |
|
-246 |
|
-81 |
|
75 |
|
-62 |
|
– |
|
|
|
|
|
|
Interest result |
|
Net gains and losses |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Currency differences |
|
Dividends |
|
Interest income |
|
Interest expenses |
|
Impairment losses |
|
Reversals of impairment losses |
|
Fair value adjustments |
|
Disposal gains/ losses |
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
-31 |
|
|
|
7 |
|
|
|
-95 |
|
87 |
|
|
|
-1 |
Subsequent measuremen at fair value through other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Instruments |
|
|
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measuremen at fair value through profit or loss |
|
1 |
|
– |
|
20 |
|
– |
|
|
|
|
|
-714 |
|
|
Financial debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
24 |
|
|
|
|
|
-270 |
|
|
|
|
|
|
|
– |
Subsequent measurement at fair value through profit or loss |
|
– |
|
|
|
– |
|
– |
|
|
|
|
|
782 |
|
|
Total |
|
-7 |
|
– |
|
27 |
|
-270 |
|
-95 |
|
87 |
|
67 |
|
-1 |
In the table above, interest income or expenses related to derivatives without a hedging relationship are recognized within fair value adjustments. The currency result from equity instruments with subsequent measurement at fair value through other comprehensive income was recognized in other comprehensive income.