20 Interest Expenses
The interest expenses mainly relate to interest expense on financial liabilities measured at amortized cost.
in € million |
2019 |
2020 |
|---|---|---|
|
|
|
Interest expense from non-derivative financial liabilities |
349.7 |
374.0 |
Swaps (current interest expense for the period) |
17.2 |
16.8 |
Effects from the valuation of non-derivative financial instruments |
–18.9 |
–48.6 |
Effects from the valuation of swaps |
17.9 |
42.4 |
Prepayment penalties and commitment interest |
28.1 |
6.2 |
Interest accretion to provisions |
10.0 |
6.2 |
Interest from leases |
14.0 |
16.1 |
Other financial expenses |
–0.5 |
–1.7 |
|
417.5 |
411.4 |
|
|
|
The prepayment penalties include the fees for the unscheduled repayment of loans during the fixed interest period.
A reconciliation of net interest to net interest to be classified in accordance with IFRS 9 is shown in the following table:
in € million |
2019 |
2020 |
|---|---|---|
|
|
|
Interest income |
8.9 |
21.9 |
Interest expense |
–417.5 |
–411.4 |
Net interest |
–408.6 |
–389.5 |
|
|
|
Less: |
|
|
Net interest from provisions for pensions in acc. with IAS 19 |
8.6 |
5.6 |
Net interest from other provisions in acc. with IAS 37 |
1.4 |
0.6 |
Net interest from leases |
14.0 |
16.1 |
Net interest to be classified |
–384.6 |
–367.2 |
|
|
|
The net interest classified pursuant to IFRS 9 is as follows:
in € million |
2019 |
2020 |
|---|---|---|
|
|
|
Financial assets measured at (amortized) cost |
8.9 |
21.8 |
Derivatives measured at FV through P&L |
–35.1 |
–59.2 |
Financial liabilities measured at (amortized) cost |
–358.4 |
–329.8 |
Classification of net interest |
–384.6 |
–367.2 |
|
|
|