9. Other financial result

The other financial income and expenses from financial instruments are assigned to measurement categories according to IAS 39 on the basis of the underlying transactions. 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.

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€ million

2013/14

2014/15

Other financial income

161

271

thereof currency effects

(91)

(172)

thereof hedging transactions

(36)

(85)

Other financial expenses

−403

−442

thereof currency effects

(−166)

(−320)

thereof hedging transactions

(−21)

(−31)

Other financial result

−242

−172

thereof from financial instruments of the measurement categories according to IAS 39:

 

 

loans and receivables incl. cash and cash equivalents

(−32)

(−41)

held to maturity

(0)

(0)

held for trading

(−22)

(12)

available for sale

(0)

(0)

other financial liabilities

(−64)

(−124)

thereof fair value hedges:

 

 

underlying transactions

(0)

(0)

hedging transactions

(0)

(0)

thereof cash flow hedges:

 

 

ineffectiveness

(9)

(−9)

The overall result from currency effects and measurement results from hedging transactions and hedging relationships totalled €–95 million (2013/14: €–61 million). As in the previous year, this figure largely results from foreign currency financings in Eastern Europe. In addition, the other financial result reflects €–2 million (2013/14: €–122 million) in currency effects resulting from the translation of the financial statements of foreign subsidiaries that are recognised through profit or loss in the year the subsidiary is deconsolidated or in the year business activities are discontinued.

For more information about possible effects from currency risks, see no. 44 – management of financial risks.