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NET FINANCIAL EXPENSES | 12 Months Ended
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Dec. 31, 2022
Net financial (expenses)/income [Abstract] |
NET FINANCIAL EXPENSES | 9. NET FINANCIAL EXPENSES The following table sets out details of financial income and expenses, including the amounts reported in the consolidated income statement within the net financial expenses line item, as well as interest income from financial services activities, recognized under net revenues, and interest expenses and other financial charges from financial services activities, recognized under cost of sales.
| For the years ended December 31,
| 2022 |  | 2021 |  | 2020
Financial income: | (€ thousand)
Interest income from bank deposits | 2,414 |  |  | 399 |  |  | 610 |
Other interest income and financial income | 2,166 |  |  | 4,741 |  |  | 517 |
Interest income and other financial income | 4,580 |  |  | 5,140 |  |  | 1,127 |
Finance income from financial services activities | 69,389 |  |  | 55,043 |  |  | 65,878 |
Total financial income | 73,969 |  |  | 60,183 |  |  | 67,005 |
Total financial income relating to: |  |  |  |  |
Industrial activities (A) | 4,580 |  |  | 5,140 |  |  | 1,127 |
Financial services activities (reported in net revenues) | 69,389 |  |  | 55,043 |  |  | 65,878 |
Financial expenses: |  |  |  |  |
Capitalized borrowing costs | 1,914 |  |  | 1,874 |  |  | 2,591 |
Other interest and financial expenses | (2,778) |  |  | (3,315) |  |  | (3,258) |
Interest expenses and other financial expenses | (864) |  |  | (1,441) |  |  | (667) |
Interest expenses from banks and other financial institutions | (25,503) |  |  | (11,310) |  |  | (14,330) |
Interest and other finance costs on bonds and notes | (23,679) |  |  | (22,947) |  |  | (20,116) |
Write-downs of financial receivables | (594) |  |  | (1,467) |  |  | (9,502) |
Other financial expenses | (2,008) |  |  | (5,991) |  |  | (14,580) |
Total financial expenses | (52,648) |  |  | (43,156) |  |  | (59,195) |
Net expenses from derivative financial instruments and foreign currency exchange rate differences | (28,693) |  |  | (11,880) |  |  | (27,652) |
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences | (81,341) |  |  | (55,036) |  |  | (86,847) |
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences relating to: |  |  |  |  |
Industrial activities (B) | (54,196) |  |  | (38,397) |  |  | (50,219) |
Financial services activities (reported in cost of sales) | (27,145) |  |  | (16,639) |  |  | (36,628) |
Net financial expenses relating to industrial activities (A+B) | (49,616) |  |  | (33,257) |  |  | (49,092) |

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