Specification of financial income and expenses 2015 Interest income Other financial income Total financial income Financial expenses 2015 Interest expenses / Interest swap Other financial expenses Total financial expenses 42,840 49 42,889 103 0 103 2014 15 0 15 2014 29,659 1 29,660 Related-party transactions Note 9 Remuneration to executives is disclosed in note 7 and the balance with group companies is disclosed in note 3. There were no related-party transactions in 2015. 81 Financial market risk Note 10 Kid ASA is exposed to interest rate risk on long-term debt. Interest risk The company’s interest rate risk arises from long-term borrowings and bank deposits. Borrowings issued at variable rates expose the group to cashflow interest rate risk which is partially offset by cash held at variable rates. The company’s interest rate risk was hedged using an interest rate swap in 2014 and 2015 which was of equal amount to one of the long-term loan tranches to financial institutions. The swap contract was terminated in November 2015 as the company found the interest rate risk acceptable after reducing the net interest-bearing debt after completing the IPO in 2015. Annual Report 2015 KID ASA NOTES Note 8 Financial income
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