(40) Finance income and expenses/Net gains and losses from financial instruments
Finance income and expenses were as follows:
€ million |
|
2022 |
|
2021 |
|---|---|---|---|---|
Interest income and similar income |
|
69 |
|
46 |
Capital gain from disposal of debt instruments with subsequent measurement at amortized cost |
|
1 |
|
1 |
Income from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
10 |
|
16 |
Income from the change of the fair value of share-based compensation programs |
|
7 |
|
– |
Other interest income |
|
2 |
|
– |
Finance income |
|
90 |
|
62 |
|
|
|
|
|
Interest expense and similar expenses |
|
-235 |
|
-272 |
Capital loss from disposal of debt instruments with subsequent measurement at amortized cost |
|
– |
|
– |
Expenses from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss |
|
-15 |
|
-3 |
Expenses from fair value changes of share-based compensation programs |
|
– |
|
-3 |
Currency differences from financing activities |
|
-26 |
|
-39 |
Finance costs |
|
-277 |
|
-317 |
|
|
|
|
|
Financial result |
|
-187 |
|
-255 |
Interest income and expenses arose as follows:
|
|
2022 |
|
2021 |
||||
|---|---|---|---|---|---|---|---|---|
€ million |
|
Interest |
|
Interest |
|
Interest |
|
Interest expenses |
Financial instruments |
|
33 |
|
-161 |
|
19 |
|
-176 |
thereof: Financial assets |
|
|
|
|
|
|
|
|
Subsequent measurement at fair value at amortized cost |
|
22 |
|
-3 |
|
– |
|
– |
Subsequent measurement at fair value through profit or loss |
|
11 |
|
-2 |
|
19 |
|
– |
thereof: Financial debt |
|
|
|
|
|
|
|
|
Subsequent measurement at fair value at amortized cost |
|
– |
|
-155 |
|
– |
|
-174 |
Subsequent measurement at fair value through profit or loss |
|
– |
|
-1 |
|
– |
|
-2 |
Leases |
|
– |
|
-13 |
|
– |
|
-10 |
Pension provisions |
|
– |
|
-39 |
|
– |
|
-27 |
Other non-current provisions |
|
– |
|
-2 |
|
– |
|
-1 |
Other interest income/expenses and similar income and expenses |
|
37 |
|
-37 |
|
27 |
|
-69 |
Capitalized borrowing costs for |
|
|
|
17 |
|
|
|
11 |
Property, plant and equipment |
|
|
10 |
|
|
|
||
Other intangible assets |
|
|
6 |
|
|
|
||
Interest income/expenses and similar income and expenses |
|
69 |
|
-235 |
|
46 |
|
-272 |
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, currency differences as well as dividend income from financial instruments (excluding items recognized in other comprehensive income) by measurement category:
|
|
|
|
|
|
|
|
Net gains and losses |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
|
|
Currency differences |
|
Dividends |
|
Impairment losses/ |
|
Fair value adjustments |
|
Disposal gains/losses |
|
Total |
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
2022 |
|
-4 |
|
|
|
-6 |
|
|
|
1 |
|
-5 |
|
2021 |
|
7 |
|
|
|
1 |
|
|
|
1 |
|
2 |
|
Subsequent measurement at fair value through other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Instruments |
|
2022 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
2021 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
thereof: investments derecognized |
|
2022 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
2021 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
thereof: investments held |
|
2022 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
2021 |
|
|
|
– |
|
|
|
|
|
|
|
|
|
Debt Instruments |
|
2022 |
|
– |
|
|
|
– |
|
|
|
2 |
|
2 |
|
2021 |
|
– |
|
|
|
– |
|
|
|
– |
|
– |
|
Subsequent measurement at fair value through profit or loss (without derivatives) |
|
2022 |
|
1 |
|
– |
|
|
|
30 |
|
|
|
30 |
|
2021 |
|
1 |
|
– |
|
|
|
-5 |
|
|
|
-5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsequent measurement at amortized cost |
|
2022 |
|
– |
|
|
|
|
|
|
|
– |
|
– |
|
2021 |
|
-13 |
|
|
|
|
|
|
|
– |
|
– |
|
Subsequent measurement at fair value through profit or loss (without derivatives) |
|
2022 |
|
– |
|
|
|
|
|
30 |
|
|
|
30 |
|
2021 |
|
– |
|
|
|
|
|
-9 |
|
|
|
-9 |
|
Derivatives without a hedging relationship (net) |
|
2022 |
|
– |
|
|
|
|
|
-27 |
|
|
|
-27 |
|
2021 |
|
– |
|
|
|
|
|
-18 |
|
|
|
-18 |
|
In the table above, interest income or expenses related to derivatives without a hedging relationship, with the exception of the virtual power purchase agreements, 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.