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FINANCE COSTS—NET | 6 Months Ended
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Jun. 30, 2024
Analysis of income and expense [abstract] |
FINANCE COSTS—NET | NOTE 7 - FINANCE COSTS - NET
|  | Three months ended June 30, |  | Six months ended June 30,
(in millions of Euros) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Interest expense on borrowings (A) |  | (21) |  | (25) |  | (44) |  | (49)
Interest expense on leases |  | (2) |  | (2) |  | (4) |  | (5)
Interest cost on pension and other benefits |  | (5) |  | (4) |  | (8) |  | (8)
Expenses on factoring arrangements |  | (5) |  | (5) |  | (9) |  | (10)
Realized and unrealized gains / (losses) on debt derivatives at fair value (B) |  | — |  | 4 |  | (1) |  | 4
Realized and unrealized exchange gains / (losses) on financing activities - net (B) |  | 1 |  | (3) |  | 1 |  | (2)
Other finance expenses |  | (1) |  | (1) |  | (2) |  | (2)
Capitalized borrowing costs (C) |  | 1 |  | 1 |  | 2 |  | 2
Finance expenses |  | (32) |  | (35) |  | (65) |  | (70)
Finance costs - net |  | (32) |  | (35) |  | (65) |  | (70)
(A)For the six months ended June 30, 2024 and 2023, interest expense on borrowings inc luded €38 million of interest, and €2 million of am ortization of arrangement fees related to Constellium SE Senior Notes. (B)The Group hedges the dollar exposure, relating to the principal of its Constellium SE U.S. Dollar Senior Notes, for the portion that has not been used to finance directly or indirectly U.S. Dollar functional currency entities. Changes in the fair value of these hedging derivatives are recognized within Finance costs – net in the Interim Income Statement. (C)Borrowing costs directly attributable to the construction of assets are capitalized. The capitalization rate w as 5% for the six months ended June 30, 2024 and 2023.

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- Definition The disclosure of finance cost. [Refer: Finance costs] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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