OTHER OPERATING EXPENSES AND NET FINANCIAL ITEMS 5 OTHER OPERATING EXPENSES (NOK THOUSAND) 2016 2015 Manufacturing costs 379 954 341 554 Warehouse costs 142 060 145 021 Transport costs 431 792 437 552 Sales costs 1 146 426 1 146 777 Technical service 141 616 112 967 Research and development 168 726 167 436 General and administrative 642 992 637 570 Other 367 841 140 958 Total 3 421 406 3 129 834 27 The Jotun Group presents its income statement based on the nature of the item of income and expense. Other operating expenses comprise all operating expenses that are not related to cost of goods sold, employee payrolls and capital cost in the form of depreciation. The main items of other operating expenses have been grouped in the table above. JOTUN GROUP The item “Research and development” consists of costs from projects in a research phase and development costs related to cancelled projects. The item “Other” consists mainly of claims and loss on receivables. FINANCE INCOME (NOK THOUSAND) 2016 2015 Fair value changes financial instruments 21 768 – Interest income 55 183 60 176 Interest income on loan to associated companies 4 341 3 417 Net foreign exchange gain 3 757 9 956 Other financial income 13 307 12 540 Total 98 356 86 090 FINANCE COSTS (NOK THOUSAND) 2016 2015 Fair value changes financial instruments – –27 278 Interest costs –106 503 –99 817 Net foreign exchange loss –139 512 –81 842 Other financial costs –21 326 –23 069 Total –267 342 –232 006 Net financial items –168 985 –145 916 Net foreign exchange loss in 2016 is affected by the significant devaluation of the Egyptian pound.
Jotun Annual Report 2016
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