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Note 10 – Financial income and expenses<br />
Amounts in USD 1 000 2009 2008<br />
Financial income:<br />
Interest income 5 038 4 911<br />
Capititalised interest income (note 4) -443 -3 771<br />
Changes in fair value – convertible bond loan 0 16 575<br />
Exchange differences on translating foreign operations 0 1 175<br />
Currency gain 1 000 0<br />
Total financial income 5 596 18 891<br />
Financial expenses:<br />
Interest expenses 22 682 31 397<br />
Amortisation of debt issue cost of issued bond loan 17 672 2 567<br />
Capitalised interest expenses (note 4) -20 147 -30 789<br />
Currency loss 686 0<br />
Exchange differences on translating foreign operations 7 883 0<br />
Changes in fair value – callable option bond loan 0 1 917<br />
Write down investment in joint venture (note 13) 14 902 0<br />
Other financial expenses 4 816 4 015<br />
Total financial expenses 48 493 9 107<br />
Interest expense of USD 11 896 (2008: USD 14 990) have been capitalised as part of the vessel construction. See note 12 for further information.<br />
Interest expense of USD 7 809 (2008: USD 5 850) have been capitalised as part of the investment in joint venture. See note 13 for further information.<br />
Amortisation of debt issuanse cost of USD 13 502 is related to effects from the from the bond restructuring process.<br />
38 Marine Subsea <strong>Annual</strong> <strong>Report</strong> 2009