9. Net interest income/interest expenses

The interest result can be broken down as follows:

€ million

2019/20

2020/21

Interest income

31

30

thereof from leases

(15)

(16)

thereof from post-employment benefits plans

(5)

(4)

thereof from financial instruments of the measurement categories according to IFRS 9

(8)

(7)

Interest expenses

−252

−224

thereof from leases

(−177)

(−152)

thereof from post-employment benefits plans

(−11)

(−10)

thereof from financial instruments of the measurement categories according to IFRS 9

(−56)

(−53)

Interest result

−220

−194

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

The interest expenses included here (of the measurement categories in accordance with IFRS 9) primarily include interest expenses for issued bonds (including the EURO ) of €29 million (2019/20: €31 million) and for liabilities to banks of €16 million (2019/20: €17 million).

The decline in interest expenses was primarily the result of lower interest expenses from leases.

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
Commercial Paper Programme
Ongoing capital market programme typical of money markets that covers short-term financing needs. It facilitates the issuance of commercial papers (CP) as discounted, unsecured bearer bonds without standardised terms of maturity.
Glossary