Tiscali 2003 Annual Report Download - page 89

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9191
This item mainly consists of telephone license costs in Italy and France, plus other minor expenses.
C) Financial income and charges
“Interest earned from banks” refers to cash investments, mostly made by Liberty Surf Group S.A., Tiscali International BV and
Tiscali Finance S.A., and gains on swap contracts taken out by Tiscali Finance in respect of its bond liabilities. Please see the
relevant section on payables for more information.
“Positive adjustments on exchange rates” mainly concern movements in the EUR/GBP exchange rate in respect of UK subsi-
diaries’ dealings with other Group companies and/or suppliers and customers.
OTHER OPERATING EXPENSES 31.12.2003 31.12.2002 CHANGE
Government concessions and telecommunications licenses - 257 (257)
Magazines and newspaper subscriptions - 33 (33)
Other non-extraordinary contingent liabilities - 5,052 (5,052)
Losses on receivables not covered by reserves 2,582 - 2,582
Other minor charges 5,448 3,762 1,686
Total 8,030 9,104 (1,074)
FINANCIAL INCOME 31.12.2003 31.12.2002 CHANGE
From securities listed under non-current assets other than equity investments 303 4 299
From securities listed under current assets other than equity investments - 941 (941)
From receivables listed under non-current assets 32 619 (587)
Total 335 1,564 (1,229)
Earnings other than the above
From non-consolidated Group companies - 24,053 (24,053)
From affiliated companies - 2,376 (2,376)
From third parties
Interest earned from banks 42,432 6,907 35,525
Interest earned on tax credits - 153 (153)
Interest earned on other securities 574 12,466 (11,892)
Exchange rate gains - 195 (195)
Positive adjustments on exchange rates 8,603 6,614 1,989
Interest from customers 2 1 1
Other financial income 1,377 1,933 (556)
Income from short-term investments - 41,804 (41,804)
Total 52,988 96,502 (43,514)
Total financial income 53,323 98,066 (44,743)