REC Silicon Annual Report 2019

71 Notes to the consolidated financial statements, REC Silicon Group REC Silicon Annual Report 2019 FINANCIAL INCOME AND EXPENSES (USD INMILLION) 2019 2018  Interest income from financial assets not at fair value through profit or loss 0.7 0.9  Calculated interest income 0.0 0.0 Total income from financial assets not at fair value through profit or loss 0.7 0.9  Interest expenses for the convertible bonds (fair value through profit or loss) 0.0 -2.1  Interest expenses for the NOK Bonds REC03 (partially fair value through profit or loss) 0.0 -2.0  Interest expenses for CTO tax dispute -0.4 -0.4  Interest expenses for USD Senior Secured Bond -12.7 -9.1  Interest expenses for financial liabilities not at fair value through profit or loss 0.0 0.0  Expensing of up-front fees and costs -0.3 -0.2  Interest on lease liabilities -5.0 0.0  Other calculated interest expenses -0.5 -0.7  Other expenses from financial assets and liabilities -0.6 -3.5 Net financial expenses -19.6 -18.0 Net currency gains/losses -1.2 3.1  Total net gains/losses derivatives and fair value hedge (excluding interest) 0.0 0.0  Fair value through profit or loss - convertible bonds (excluding interest) 0.0 0.0 Total fair value through profit or loss 0.0 0.0 Net financial items -20.2 -14.0 Interest income in 2019 includes interest on bank accounts of USD 0.4million and interest on municipal bonds of USD 0.2million. Calculated interest is interest calculated on prepayments (see note 20). ADDITIONAL INFORMATION TOTHE STATEMENTOF CASH FLOWS ON INTEREST, UP-FRONT FEES, AND OTHER COSTS PAID. Interest paid is approximately USD 12.7million in 2019 and USD 14.9million in 2018. 25