8. Other financial result

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€ million

2011

2012

Other financial income

151

248

thereof currency effects

(100)

(166)

thereof hedging transactions

(42)

(34)

Other financial expenses

–253

–284

thereof currency effects

(–127)

(–192)

thereof hedging transactions

(–66)

(–21)

Other financial result

–102

–36

thereof financial instruments of IAS 39 measurement categories:

 

 

loans and receivables incl. cash and cash equivalents

(–19)

(–19)

held to maturity

(0)

(0)

held for trading

(–28)

(23)

available for sale

(1)

(3)

other financial liabilities

(–31)

(–46)

thereof fair value hedges:

 

 

underlying transactions

(0)

(0)

hedging transactions

(0)

(0)

thereof cash flow hedges:

 

 

ineffectiveness

(4)

(–5)

The other financial income and expenses from financial instruments are assigned to measurement categories on the basis of the underlying transactions pursuant to IAS 39. Besides income and expenses from the measurement of financial instruments according to IAS 39, this also includes the measurement of foreign currency positions according to IAS 21.

The overall result from currency effects and measurement results from hedging transactions and hedging relationships totalled €–12 million (previous year: €–51 million). This figure results largely from foreign currency financings in Eastern Europe. Developments in individual Eastern European currencies, in particular, resulted in a positive result in currency effects as well as hedging transactions compared to the previous year. Valuation yields of commodity contracts for energy and fuels resulted in expenses of €2 million (previous year: expenses of €3 million).

For possible effects from currency risks, see no. 42 “Management of financial risks”.