Hexagon Annual Report 2019

NOTE 6 NET FINANCIAL ITEMS (NOK 1 000) 2019 2018 Interest income 6 373 4 662 Unrealized gains from forward exchange contracts with actual gains or losses through profit and loss 6 988 1 142 Foreign exchange items 107 140 79 944 Other finance income 2 016 Total finance income 122 517 85 748 Loss on exchange items 30 196 58 565 Unrealized loss on forward exchange contracts and interest rate swaps with actual gains or losses through profit and loss 0 0 Cost of interest on loans etc. 69 092 9 772 Cost of interest on lease liabilities 8 380 Other finance expense 22 962 6 851 Total finance expense 130 630 75 188 Net financial items -8 114 10 560 (NOK 1 000) NOTE 2019 2018 Income tax payable in the income statement 53 642 33 767 Change in deferred tax in income statement -49 886 -6 503 Tax expense 3 755 27 265 Income tax payable in the balance sheet 53 875 34 283 Prepaid tax overseas in the balance sheet 15 -1 030 -2 641 Settled tax overseas 797 2 126 Total income tax payable in the income statement 53 642 33 767 Nominal tax rates in Norway 22 % 23 % Profit before tax 111 246 168 727 Tax based on nominal tax rate in Norway 24 474 38 807 Other differences relating to foreign subsidiaries 5 874 13 874 Tax effects from gain on transactions -15 318 Share of profit/loss from associates -165 -4 132 Other non-taxable income and non-deductible expenses -11 111 -20 535 Effect of changes in tax rate 0 -750 Tax expense 3 755 27 265 TAX EXPENSE NOTE 7 TAX 29 115 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS