[12] Financial income
Financial income breaks down as shown in > TABLE 055.
Financial income |
|
055 |
in € million |
2016 |
2015 |
Interest income from leases |
36.4 |
34.8 |
Foreign currency exchange rate gains (financing) |
42.2 |
5.8 |
Net interest income from defined benefit plans |
1.1 |
0.9 |
Other interest and similar income |
9.1 |
10.0 |
Total financial income |
88.9 |
51.4 |
The increase in financial income in 2016 mainly resulted from the change in foreign currency exchange rate gains (financing), which was attributable to fluctuations in exchange rates, and also gains / losses arising on hedging transactions. These gains were offset by foreign currency exchange rate losses (financing) (see note [13]).
The interest income from leases relates to the interest portion of lease payments in financial services transactions in which KION Group entities act as lessors (finance leases).
The line item ‘Net interest income from defined benefit plans’ relates to the net interest income on the net assets of two pension plans in the United Kingdom in which plan assets exceed pension obligations.