11. Net results according to measurement categories

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

2017/18
€ million	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
Loans and receivables incl. cash and cash equivalents	16	0	−27	0	−17	0	−29
Held to maturity	0	0	0	0	0	0	0
Held for trading incl. derivatives in a hedging relationship according to IAS 39	0	13	0	0	0	0	13
Available for sale	0	0	0	0	0	0	0
Miscellaneous financial liabilities	−79	10	1	4	0	−5	−69
	−63	23	−27	4	−17	−5	−85

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2018/19
€ million	Investments	Interest	Fair value measurements	Currency translation	Disposals	Impairments	Other	Net result
Financial assets measured at amortised cost, incl. cash and cash equivalents	0	11	0	19	0	−16	0	13
Financial assets at fair value through profit or loss incl. derivatives in a hedging relationship according to IAS 39	−1	0	22	0	0	0	0	22
Equity instruments measured outside of profit or loss	0	0	0	0	0	0	0	0
Financial liabilities measured at amortised cost	0	−69	4	−23	3	0	−4	−89
	−1	−57	26	−5	4	−16	−4	−54

The income and expenses from financial instruments are assigned to measurement categories according to IFRS 9 on the basis of the underlying transactions.

Investment income and income effects from the disposal of investments are included in other investment result. 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). The expenses from impairments are included in the result from impairments on financial assets.

For more information about impairments, see no. 44 – management of financial risks.

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.

IFRS (International Financial Reporting Standards)

Internationally applicable rules for financial reporting developed by the IASB. Contrary to the accounting rules under the German Commercial Code, the IFRS emphasise the informational function.

Glossary

Fair value

Recognised fair value. Amount that would have been received in return for the disposal of an asset or paid for the assignment of a debt in an ordinary transaction conducted between market participants on the assessment date.

Glossary

EBIT (Earnings Before Interest and Taxes)

Profit or loss before financial result and (income) taxes. Due to its independence from different forms of financing and tax systems, this key figure can also be used for international comparison with other companies.

Glossary