Audi 2015 Annual Report Download - page 245

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE INCOME STATEMENT
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13.2 / NET RESULTS OF FINANCIAL INSTRUMENTS BASED ON MEASUREMENT CATEGORIES
PURSUANT TO IAS 39
EUR million 2015 2014
Financial instruments measured at fair value through profit or loss – 515 – 50
Loans and receivables 153 178
Available-for-sale financial assets 171 106
Financial liabilities measured at amortized cost – 88 – 46
Net results of financial instruments –279 188
The net results from financial instruments include the net
income or expense from interest, fair value measurements,
foreign currency translation, adjustments and disposal gains.
The “Financial instruments measured at fair value through
profit or loss” category presents the results from the settle-
ment and measurement of derivative financial instruments not
allocated to hedge accounting. The “Loans and receivables” and
“Financial liabilities measured at amortized cost” categories
essentially consist of interest income and expenses, income
and expenses from the measurement and processing of for-
eign currency transactions. Financial liabilities also include
factoring expenses. The “Loans and receivables” category also
includes impairment losses on receivables. The net result for
“Available-for-sale financial assets” predominantly comprises
income from investments in securities.
13.3 / INTEREST INCOME AND EXPENSE FOR FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE
EUR million 2015 2014
Interest income 59 74
Interest expense – 36 – 26
Interest income and expense 23 48
Interest income that does not relate to financial instruments
measured at fair value primarily covers interest from the Audi
Group’s cash and cash equivalents, fixed deposits and loans
extended. Interest expense not relating to the financial in-
struments measured at fair value largely comprises factoring
expenses arising in connection with the sale of receivables to
Volkswagen Group Services S.A./N.V., Brussels (Belgium), and
to subsidiaries of Volkswagen AG, Wolfsburg, that are not part
of the Audi Group.
13.4 / IMPAIRMENT LOSSES FOR FINANCIAL ASSETS BY CATEGORY
EUR million 2015 2014
Measured at fair value – –
Measured at amortized cost 18 16
Impairment losses 18 16
The impairment losses relate to financial assets, such as im-
pairment losses on receivables or securities.
13.5 / GAINS AND LOSSES FROM
HEDGING ACTIVITIES
In 2015, EUR 1,701 million was transferred with a negative
effect on the result from the cash flow hedge reserve to other
operating profit and EUR 8 million was transferred to cost of
goods sold, with a negative effect on the result. In the 2014
fiscal year, EUR 154 million was transferred, with a positive
effect on the result to other operating profit, and EUR 7 mil-
lion was transferred to cost of goods sold, with a negative
effect on the result.