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Finance income (expense) (Tables)

12 Months Ended

Dec. 31, 2020

Finance income (expense)

Schedule of finance income (expense)


(€ million)		2020		2019		2018
Finance income (expense)
Finance income		3,531		3,087		3,967
Finance expense		(4,958)		(4,079)		(4,663)
Net finance income (expense) from financial assets held for trading		31		127		32
Income (expense) from derivative financial instruments		351		(14)		(307)
		(1,045)		(879)		(971)

Schedule of analysis of finance income (expense)

The analysis of finance income (expense) was as follows:


(€ million)		2020		2019		2018
Finance income (expense) related to net borrowings
Interest and other finance expense on ordinary bonds		(517)		(618)		(565)
Net finance income (expense) on financial assets held for trading		31		127		32
Interest and other expense due to banks and other financial institutions		(102)		(122)		(120)
Interest on lease liabilities		(347)		(378)
Interest from banks		10		21		18
Interest and other income on financial receivables and securities held for non-operating purposes		12		8		8
		(913)		(962)		(627)
Exchange differences		(460)		250		341
Income (expense) from derivative financial instruments		351		(14)		(307)
Other finance income (expense)
Interest and other income on financing receivables and securities held for operating purposes		97		112		132
Capitalized finance expense		73		93		52
Finance expense due to the passage of time (accretion discount)(a)		(190)		(255)		(249)
Other finance income (expense)		(3)		(103)		(313)
		(23)		(153)		(378)
		(1,045)		(879)		(971)

(a) The item related to the increase in provisions for contingencies that are shown at present value in non-current liabilities.