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(8) Financial result

Financial result
€ million		 2009 2008
Interest and similar income 589 807
Other financial income 1,110 1,055
Financial income 1,699 1,862
Interest and similar expenses 1,224 965
Interest accretion to
Provisions for pensions and similar obligations 176 97
Provisions for nuclear waste management as well as to mining provisions 567 582
Other provisions 214 59
Other finance costs 1,508 1,634
Finance costs 3,689 3,337
-1,990 -1,475

The financial result breaks down into net interest, interest accretion to provisions, other financial income and other finance costs.

Net interest essentially includes interest income from interestbearing securities and loans, expenses and income relating to marketable securities, and interest expenses.

Net interest
€ million		 2009 2008
Interest and similar income 589 807
Interest and similar expenses 1,224 965
-635 -158

Interest accretion to provisions contains the reversal allocable to the current year of the discounting of non-current provisions from the annual update of the present value calculation. It is reduced by the projected income on plan assets for the coverage of pension obligations.

Net interest stems from financial assets and liabilities, which are allocated to the following categories:

Interest result by category
€ million		 2009 2008
Loans and receivables 357 465
Financial assets available for sale 232 342
Financial liabilities carried at (amortised) cost -1,224 -965
-635 -158

The financial result also contains all other financial income and finance costs which cannot be allocated to net interest or to interest accretion to provisions. Other financial income includes €292 million in gains realised from the disposal of marketable securities (previous year: €232 million).

Other finance costs include €51 million (previous year: €152 million) in write-downs of marketable securities due to decreases in their fair value and €441 million (previous year: €436 million) in realised losses from the disposal of marketable securities.

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