Note 20 - Financial Items

Parent company

Consolidated

2017

2016

(Amounts in USD 1,000)

2017

2016

 

Financial income

5,097

4,499

Interest income

8,461

8,487

-

2,708

Other financial income

226

3,984

5,097

7,207

Total financial income

8,687

12,471

 

Financial expenses

-10,784

-12,752

Interest expenses

-56,833

-50,146

-225,029

-

Impairment of shares in subsidiaries

-

-

-6,477

-73

Other financial expenses

-12,816

-5,166

-242,290

-12,825

Total financial expenses

-69,649

-55,312

 

Other financial items

-2,108

64

Net currency gain/(loss)

-15,292

-64,154

-2,108

64

Total currency gain/(loss)

-15,292

-64,154

Net currency gain/(loss) includes an unrealized gain of USD 0.03K related to intercompany transactions.

The net currency gain/(loss) for the Parent of USD 2,108K includes an intercompany currency gain of USD 387K.

The weighted average cost of debt for the Company was approximately 4.0% at 31 December 2017, including the effect of fixed interest rate swap agreements.

Board Of Directors

Financial Statements

Notes