233 348
233
26. FINANCE INCOME
This is detailed as follows:
2014
2013 (*)
Interest income from banks and other financial institutions
7
7
Other finance income
1
2
Non-recurring other finance income
4
-
Finance income
12
9
Net gains on interest rate swaps
14
6
Net gains on forward currency contracts
-
7
Gains on derivatives
14
13
Foreign currency exchange gains
313
263
Total finance income
339
285
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
Non-recurring other finance costs report Euro 2 million for the
accelerated amortisation of bank fees relating to the Credit
Agreement 2010, after repaying the Term Loan Facility 2010
early and extinguishing the Revolving Credit Facility 2010.
This early repayment has also led to the discontinuance of
cash flow hedge accounting, resulting in the recognition of
net losses of Euro 4 million on interest rate swaps, which
have been classified in “Non-recurring net losses on interest
rate swaps”.
“Other” finance costs include Euro 17 million for differentials
accruing on interest rate swaps, of which Euro 14 million in
relation to instruments for which hedge accounting was
discontinued following the early repayment above. This last
figure is largely offset by the fair value measurement of the
related derivatives, reported in “Net gains on interest rate
swaps”.
In addition to the costs concerning the Credit Agreement
2010, non-recurring other finance costs include Euro 9 million
in interest and charges accruing on legal disputes.
Non-recurring other finance income includes Euro 4 million in interest received in connection with a legal dispute.
27.
TAXES
These are detailed as follows:
2014
2013 (*)
Current income taxes
73
72
Deferred income taxes
(16)
(7)
Total
57
65
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
(in millions of Euro)
(in millions of Euro)