10. Net results according to measurement categories

The key effects of income from financial instruments are as follows:

2015/16	Investments	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
€ million	Investments	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
Loans and receivables incl. cash and cash equivalents	0	20	0	−4	0	−26	0	−10
Held to maturity	0	0	0	0	0	0	0	0
Held for trading incl. derivatives in a hedging relationship according to IAS 39	0	−1	−14	0	0	0	−13	−28
Available for sale	−3	0	0	0	0	0	0	−3
Other financial liabilities	0	−147	0	−30	3	0	−18	−192
	−3	−128	−14	−34	4	−26	−32	−234

(XLS:) XLS

2016/17	Investments	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
€ million	Investments	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
Loans and receivables incl. cash and cash equivalents	0	29	0	−35	0	−27	−1	−33
Held to maturity	0	0	0	0	0	0	0	0
Held for trading incl. derivatives in a hedging relationship according to IAS 39	0	0	−5	0	0	0	−3	−8
Available for sale	−11	0	0	0	0	0	0	−11
Other financial liabilities	0	−97	0	0	5	0	−10	−101
	−11	−67	−5	−34	5	−27	−14	−153

Income and expenses from financial instruments are assigned to measurement categories according to IAS 39 on the basis of the underlying transactions.

Investment income and income effects from the disposal of investments are included in other investment income. Interest income and expenses are part of the interest result. Fair value measurements and effects from other financial expenses and currency translation are included in the other financial result. Income effects from the disposal of other financial liabilities are included in earnings before interest and taxes (EBIT). Income effects from the disposal of assets classified as available for sale are included in the other financial result to the extent that these do not concern investments. Expenses from impairments are essentially included in earnings before interest and taxes.

For more information about impairments, see no. 27 – impairments of capitalised financial instruments.

Remaining financial income and expenses included in the other financial result primarily concern bank commissions and similar expenses that are incurred within the context of financial assets and liabilities.

Fair value

This refers to the price that would be received to sell an asset or paid to transfer a liability as part of a normal transaction between market participants at the measurement date.

Glossary

EBIT (Earnings Before Interest and Taxes)

This key figure is used for the international comparison of companies.

Glossary