Boskalis jaarverslagen 2011

10. Finance income and expenses

 

    2011   2010
         
Interest income on short-term bank deposits   8,324   5,005
Change in fair value of (hedging instruments regarding) borrowings   14,663   18,233
Finance income   22,987   23,238
         
Interest expenses   -39,528   -28,833
Change in fair value of (hedging instruments regarding) borrowings   -17,672   -18,233
Other finance expenses   -6,155   -13,008
Finance expenses   -63,355   -60,074
         
Net finance expense recognized in consolidated income statement   -40,368   -36,836

Other finance expenses includes € 3.0 million settlement costs of derivatives, which, due to the sale of the terminal activities, were no longer effective. In 2010 the settlement of a forward start interest rate swap (€ 9.6 million) is included. The remainder of the other finance expenses mainly relates to commitment fees. 

Added to My report add to My report Source: Annual report 2011, page 84