(40) Finance income and expenses/Net gains and losses from financial instruments
Finance income and expenses were as follows:
€ million |
|
2021 |
|
2020 |
|---|---|---|---|---|
Interest income and similar income |
|
46 |
|
39 |
Capital gain from disposal of debt instruments with subsequent measurement at amortized cost |
|
1 |
|
– |
Income from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
16 |
|
4 |
Finance income |
|
62 |
|
43 |
|
|
|
|
|
Interest expense and similar expenses |
|
-272 |
|
-387 |
Expenses from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
-3 |
|
-3 |
Expenses from fair value changes of share-based compensation programs |
|
-3 |
|
-5 |
Currency differences from financing activities |
|
-39 |
|
-3 |
Finance costs |
|
-317 |
|
-395 |
|
|
|
|
|
Financial result |
|
-255 |
|
-354 |
Interest income and expenses arose as follows:
|
|
2021 |
|
2020 |
||||
|---|---|---|---|---|---|---|---|---|
€ million |
|
Interest income |
|
Interest expenses |
|
Interest income |
|
Interest expenses |
Financial instruments |
|
19 |
|
-176 |
|
26 |
|
-246 |
Leases |
|
– |
|
-10 |
|
– |
|
-15 |
Pension provisions |
|
– |
|
-27 |
|
– |
|
-39 |
Other non-current provisions |
|
– |
|
-1 |
|
– |
|
-20 |
Other interest income/expenses and similar income and expenses |
|
27 |
|
-69 |
|
13 |
|
-75 |
Capitalized borrowing costs for |
|
|
|
11 |
|
|
|
8 |
Property, plant and equipment |
|
|
7 |
|
|
4 |
||
Other intangible assets |
|
|
4 |
|
|
4 |
||
Interest income/expenses and similar income and expenses |
|
46 |
|
-272 |
|
39 |
|
-387 |
The year-on-year decline in interest expenses for financial instruments is essentially due to lower interest payments for bonds.
The following table shows the development of net gains and losses, interest income and expenses, and 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 |
|
7 |
|
|
|
– |
|
|
|
-67 |
|
68 |
|
|
|
1 |
Subsequent measurement at fair value through other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Instruments |
|
|
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at fair value through profit or loss |
|
1 |
|
– |
|
19 |
|
– |
|
|
|
|
|
665 |
|
|
Financial debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
-13 |
|
|
|
|
|
-174 |
|
|
|
|
|
|
|
– |
Subsequent measurement at fair value through profit or loss |
|
– |
|
|
|
– |
|
-2 |
|
|
|
|
|
-697 |
|
|
Total |
|
-5 |
|
– |
|
19 |
|
-176 |
|
-67 |
|
68 |
|
-32 |
|
1 |
|
|
|
|
|
|
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 measuremenr at fair value through other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Instruments |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
Debt Instruments |
|
– |
|
|
|
– |
|
|
|
– |
|
– |
|
|
|
– |
Subsequent measurement at fair value through profit or loss |
|
-1 |
|
– |
|
21 |
|
– |
|
|
|
|
|
822 |
|
|
Financial debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
1 |
|
|
|
|
|
-244 |
|
|
|
|
|
|
|
– |
Subsequent measurement at fair value through profit or loss |
|
– |
|
|
|
– |
|
-2 |
|
|
|
|
|
-884 |
|
|
Total |
|
-10 |
|
1 |
|
26 |
|
-246 |
|
-81 |
|
75 |
|
-62 |
|
– |
In the table above, interest income or expenses related to derivatives without a hedging relationship are reported as a component of 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.