Porsche 2008 Annual Report Download - page 178
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To our shareholders The Company
176
[8] Finance costs
Other interest and similar expenses comprises interest expenses arising from operating activities
and from the issuance of bonds. Finance costs and cost of purchased services included in cost of
materials contain interest expenses of €2,673 million (prior year: €361 million) which result from
financial assets and liabilities which were not measured at fair value through profit or loss. In the
fiscal year 2008/09, an amount of €13 million (prior year: €0 million) was recorded as expense
for fees and commissions which are not considered when using the effective interest method.
[9] Other financial result
Other interest and similar income is mainly attributable to fixed-interest securities and time deposits.
In addition, it includes income on interest-bearing receivables and loans. Other financial result and
revenue contain interest income of €2,001 million (prior year: €305 million) which results from
financial assets and liabilities which were not measured at fair value through profits or loss. Inter-
est income from impaired financial assets amounted to €102 million in the fiscal year (prior year:
€0 million). In the fiscal year 2008/09, an amount of €2 million (prior year: €0 million) was re-
corded as income for fees and commissions which are not considered when using the effective
interest method.
2008/09 2008/09 2007/08
€ million
Porsche
without VW
Interest expenses for unwinding the discount on pension provisions 397 40 37
Interest arising from unwinding the discount on other provisions 247 46 28
Unwinding the discount on provisions 644 86 65
Other interest and similar expenses 1,410 737 483
2,054 823 548
2008/09 2008/09 2007/08
€ million
Porsche
without VW
Income from profit and loss transfer agreements 5 00
Cost of loss absorption – 6 00
Other income from investments 45 00
Other expenses from investments – 25 00
Income from securities and loans – 76 – 138 – 11
Other interest and similar income 627 200 411
570 62 400