129 Cloudberry Annual report 2022 Financial statements Note 14 Financial items The table shows the breakdown of financial income and financial expense in FY 2022 and FY 2021. Financial income NOK million 2022 2021 Interest income 11 1 Other financial income 13 2 Exchange differences 44 4 Total financial income 67 6 Financial expense NOK million 2022 2021 Interest expense (22) (9) Guarantees and commitment fees (1) (6) Other financial expense (5) (5) Exchange differences (45) (12) Capitalized interest 12 4 Total financial expense (62) (29) Other financial income comprises of income from placements in money market funds. The cash effect of interest payments and commitment fee related to long-term borrowing facility was NOK 20m in 2022 (NOK 8m in FY2021). Other interest expenses relate to lease liabilities and asset retirement obligation. For further information about interest sensitivities and payments, please see note 8 Financial risks, note 10 Hedge accounting, note 25 Lease agreements, note 23 Long term debt, and note 24 Provisions, guarantees and other contractual obligations. Net foreign exchange differences related to Group internal loans are NOK -1m, while net foreign exchange difference related to external parties are NOK 0m.
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