10. Financial Result

10.1 Result from Investments in Affiliated Companies

The result from investments in affiliated companies comprised mainly the loss of €25 million (previous year: loss of €26 million) from PO JV, LP, Wilmington (United States), an associate accounted for using the equity method, and the gain of €3 million (previous year: €3 million) from two companies accounted for using the equity method. In addition, this item includes €1 million (previous year: €0 million) in dividend income from other investments. Further details of the companies accounted for using the equity method are given in note 15.

10.2 Net Interest Expense

Net interest expense was comprised as shown in the following table:

Interest and similar expenses primarily resulted from Covestro AG loans, from liabilities to banks of the subsidiary Covestro Polymers (China) Co., Ltd., Shanghai (China), and from interest expenses from finance leases. Interest expense and interest income from forward exchange contracts included interest rate-induced fair value changes and the forward element.

10.3 Other Financial Result

The other financial result was comprised as shown in the following table:

The interest portion of interest-bearing provisions comprised €25 million (previous year: €26 million) in interest expense for pension and other post-employment benefit provisions plus €7 million (previous year: €2 million) in effects of interest expense and interest rate fluctuations for other provisions and corresponding overfunding.