TomTom 2005 Annual Report Download - page 73
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7.Financialincomeandexpenses
Financialincomeandexpensesincludethefollowingitems:
2004 2005
(in
thousands)
Interestreceivable 169 3,136
Interestpayable -507 -747
Exchangerate(losses)/gains -436 12,275
-774 14,664
TheforeignexchangegaincanmainlybeattributedtoforwardforeignexchangecontractstopurchaseUSDollarsinorder
topayourmostsignificantcontractmanufacturers.Werevalueallourforwardcontractsattheendofeachperiodwhether
ornottheyhavematured.Thisgainthereforeismadeupofbothrealisedandunrealisednetgains.
In2005,aforeignexchangelossof
1.0millionrelatingtothepurchaseofgoodswasrecognisedincostofsales
(2004:gainof
1.9million).
Theinterestaccruedmainlyrelatestointerestcostsonincometaxliabilities.