CROIssANCE dURAbLE - Euronav.com

note 5
net finance expense
recognised in profit or loss (in thousands of USD) 2008 2007
Interest income on available-for-sale investments - -
Interest income on bank deposits 1,935 3,519
Fair value adjustment on forward exchange contracts - -
Finance income 1,935 3,519
Interest expense on financial liabilities measured at amortised cost -51,087 -76,988
Fair value adjustment on interest rate swaps -39,242 -5,048
Fair value adjustment on forward exchange contracts - -
Finance expenses -90,329 -82,036
net finance expense recognised in profit or loss -88,394 -78,517
The above finance income and expenses include the following in respect of assets (liabilities) not at fair value through profit and loss:
(in thousands of USD) 2008 2007
Total interest income on financial assets 1,935 3,519
Total interest expense on financial liabilities -51,087 -76,988
recognised directly in eQuity (in thousands of USD) 2008 2007
Foreign currency translation differences for foreign operations -289 356
Net change in fair value of available-for-sale financial assets - -
Net change in fair value of available-for-sale financial assets transferred to profit or loss - -
Net change in fair value of cash flow hedges -17,531 -
Net change in fair value of cash flow hedges transferred to profit or loss - -
net finance expense recognised directly in eQuity -17,820 356
Attributable to:
Translation reserve -17,820 356
Fair value reserve - -
net finance expense recognised directly in eQuity
Recognised in:
-17,820 356
Translation reserve -289 356
Fair value reserve - -
Hedging reserve -17,531 -
-17,820 356
exchange differences (in thousands of USD) 2008 2007
Foreign exchange gains 11,533 4,851
Foreign exchange losses -7,521 -14,118
total 4,012 -9,267
euronav
rapport
annuel 2008
59