Reebok 2015 Annual Report Download - page 240

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4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Income Statement
Expenses are presented by function according to the ‘cost of sales method’ in the income statement.
Supplementary information on the expenses by nature is detailed below.
Cost of materials
The total cost of materials relating to the amount of inventories recognised as an expense during the period
was € 8.602 billion and € 7.478 billion for the years ending December 31, 2015 and 2014, respectively.
Personnel expenses
Personnel expenses were as follows:
PERSONNEL EXPENSES
€ in millions Year ending
Dec. 31, 2015
Year ending
Dec. 31, 2014
Wages and salaries 1,921 1,593
Social security contributions 187 178
Pension expenses 76 71
Personnel expenses 2,184 1,842
Personnel expenses are primarily included within other operating expenses. Personnel expenses which
are directly attributable to the production costs of goods are included within the cost of sales.
Financial result consists of the following:
FINANCIAL INCOME
€ in millions Year ending
Dec. 31, 2015
Year ending
Dec. 31, 2014
Interest income from financial instruments measured at amortised cost 19 4
Interest income from financial instruments at fair value through profit or loss 1 13
Interest income from non-financial assets 0 0
Net foreign exchange gains 25 –
Other 1 3
Financial income 46 19
FINANCIAL EXPENSES
€ in millions Year ending
Dec. 31, 2015
Year ending
Dec. 31, 2014
Interest expense on financial instruments measured at amortised cost 65 59
Interest expense on financial instruments at fair value through profit or loss 0 0
Interest expense on other provisions and non-financial liabilities 0 3
Net foreign exchange losses – 3
Other 1 2
Financial expenses 67 67
32
COST BY NATURE
33
FINANCIAL INCOME/
FINANCIAL
EXPENSES