SECTION 1 -

Note 8. Net financial expense
(in € millions)
New Services: Pro forma Financial Statements and Notes
December, 31, 2009
2007 2008
Finance costs, net (1) (94) (87) (81)
Other financial income and expenses, net (2) 2 - (23)
Net financial expense (92) (87) (104)
(1) Finance costs, net correspond to interest on loans, receivables and debt measured at amortized cost. The total corresponds
in full to interest paid or received during the period.
(2) Other financial income and expenses consist solely of exchange gains and losses, mainly on foreign currency debt measured
at amortized cost and on various dividend and capital flows in foreign currencies. In 2009, the total corresponds mainly to
exchange losses arising from the devaluation of the Venezuelan currency (see Note 2.B).
284
2009