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30 Other financial income/expense

millions of €

 

 

 

 

2021

2020

2019

Income from investments (without share of profit (loss) of associates and joint ventures accounted for using the equity method)

4

12

(11)

Gains (losses) from financial instruments

(593)

628

321

Interest component from measurement of provisions and liabilities

165

(531)

(229)

Impairment losses on other financial assets

(13)

0

0

Gains (losses) from the write-off of other financial assets measured at amortized cost

0

0

0

 

(437)

109

81

As a rule, all income/expense components including interest income and expense from financial instruments classified as at fair value through profit or loss in accordance with IFRS 9 are reported under other financial income/expense.

Other financial income decreased by EUR 0.5 billion year-on-year to other financial expense of EUR 0.4 billion. On the one hand, gains from financial instruments decreased by EUR 1.2 billion to losses from financial instruments of EUR 0.6 billion, due in part to negative measurement effects resulting, among other factors, from the premature repayment of bonds and the resulting derecognition of embedded derivatives at T‑Mobile US and from a forward transaction to hedge the price of acquiring T‑Mobile US shares in the future. On the other, net positive measurement effects resulted from the amortization and subsequent measurement of the stock options received from SoftBank in June 2020 to purchase shares in T‑Mobile US. The interest component from the measurement of provisions and liabilities increased, in particular in the Group Headquarters & Group Services segment by EUR 0.7 billion. This increase was mainly attributable to the subsequent measurement using actuarial principles of the present value of the provision recognized for the Civil Service Health Insurance Fund.

EUR -282 million (2020: EUR 341 million, 2019: EUR -14 million) of other financial income/expense related to currency translation effects, including gains/losses from derivatives used as hedges in foreign-currency hedge accounting, and EUR -310 million (2020: EUR 287 million, 2019: EUR 335 million) to gains/losses from other derivatives as well as measurements of equity investments.

For further information on financial instruments, please refer to Note 40 “Financial instruments and risk management.”