Notes to the Consolidated Income Statement
17 Financial expenses
|Interest and similar expenses||118,206||133,133|
|– of which: net interest expenses for pensions||(26,554)||(40,973)|
|Expenses for financial assets/loans/securities||21,524||14,259|
Owing to the issuance of loans as part of the new financing concept concluded on August 7, 2009 (see note 29), interest and similar expenses include expenses of € 4,614 thousand. Interest and similar expenses also include the loss on the sale of corporation tax credit of € 17,894 thousand. Net interest expenses for pensions comprise interest expenses for pension rights less the portion of return on plan assets not netted against staff costs (see note 11).
Expenses for financial assets/loans/securities include write-downs on financial assets of € 6,151 thousand (previous year: € 7,872 thousand).