2011 Annual Report - Italcementi Group

30. Finance income (costs), exchange-rate differences and derivatives
Finance income, net of finance costs, amounted to 109,819 thousand euro, as follows:
2011 2010
(in thousands of euro) Income Costs Income Costs
Interest income 8,026 5,046
Interest expense (39,415) (37,626)
Subtotal 8,026 (39,415) 5,046 (37,626)
Net interest in respect of net financial position - (31,389) - (32,580)
Dividends and other income from equity investments 151,256 122,883
Other finance income 43,206 7,237
Capitalized finance costs - 1,029
Other finance costs (52,177) (20,514)
Total finance income (costs) 202,488 (91,592) 135,166 (57,111)
Gains/(losses) on interest-rate derivatives 125 (196)
Gains/(losses) on exchange-rate derivatives 135 (535)
Net exchange-rate differences (1,337) 1,456
Exchange-rate differences and derivatives (1,077) 725
Total finance income (costs), exchange-rate differences and derivatives 109,819 78,780
Net interest in respect of net debt totaled 31,389 thousand euro in 2011 compared to 32,580 thousand euro in
2010, a decrease of 1,191 thousand euro.
31. Income tax expense
Income tax reflected income of 24,074 thousand euro, as follows:
2011 2010 Change
(in thousands of euro)
Current tax ( 10,767) ( 36,743) 25,976
Deferred tax ( 12,603) ( 9,824) ( 2,779)
Prior-year tax 96 ( 8,812) 8,908
Surpluses in allocation to provision for tax ( 800) - ( 800)
Total ( 24,074) ( 55,379) 31,305
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