[12] Financial income
Financial income breaks down as shown in > TABLE 055.
Financial income |
|
055 |
in € million |
2017 |
2016 |
Interest income from leases |
36.2 |
36.4 |
Foreign currency exchange rate gains (financing) |
87.5 |
42.2 |
Net interest income from defined benefit plans |
0.4 |
1.1 |
Other interest and similar income |
8.2 |
9.1 |
Total financial income |
132.2 |
88.9 |
The increase in financial income in 2017 mainly resulted from gains in connection with foreign currency positions in internal financing and from the related hedging transactions. These gains were offset by corresponding exchange rate losses (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 operate 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.