JOTUN A/S
64
Research and development
Research and development consists of costs from projects in a research phase and development costs related to cancelled projects.
Salaries and social costs are not included. Total gross research and development costs are NOK 447 million (2017: NOK 423 million).
Development costs which meet the recognition criteria for intangible assets are capitalised. Further details on development costs are
disclosed in note 6 and in Jotun Group’s note 8.
Finance income
(NOK THOUSAND) 2018 2017
Interest income 11 846 4 342
Interest income on loans to Group companies 134 487 146 959
Net realised foreign currency gain 5 903 –
Net unrealised foreign currency gain – 75 725
Other financial income 16 655 24 815
Total 168 891 251 841
Finance costs
(NOK THOUSAND) 2018 2017
Interest costs –76 128 –64 069
Net realised foreign currency loss – –25 510
Net unrealised foreign currency loss –58 531 –
Write down of financial fixed assets, see note 16 –211 000 –387 065
Other financial costs –6 046 –2 518
Total –351 705 –479 162
Net financial items –182 814 –227 321
Gain and loss related to derivatives are classified as finance income and finance cost, respectively, with the following effects:
(NOK THOUSAND) 2018 2017
Unrealised gain / loss (–) –21 402 6 284
Realised effect 2 951 7 907
5 Income tax
Income tax reported in the income statement
(NOK THOUSAND) 2018 2017
Tax payable 232 270 202 138
Changes in deferred tax –65 066 –4 261
Income tax expense reported in income statement 167 204 197 877
Statement of other comprehensive income
(NOK THOUSAND) 2018 2017
Deferred tax related to items charged directly to
other comprehensive income during the year:
Actuarial gain / loss (-) on defined benefit pension plans 634 37
Income tax expenses charged directly to other comprehensive income 634 37