10. Financial expenses

Million CHF

Jan–Sept
2016
Unaudited

Jan–Sept
2015
Unaudited

July–Sept
2016
Unaudited

July–Sept
2015
Unaudited

Interest expenses

(672)

(515)

(224)

(255)

Fair value changes on financial instruments

(9)

6

(4)

7

Unwinding of discount on provisions

(23)

(11)

(8)

(2)

Net interest expense on retirement benefit plans

(38)

(14)

(13)

(2)

Other financial expenses

(79)

(68)

(36)

(41)

Foreign exchange gain (loss) net

59

(129)

52

(70)

Financial expenses capitalized

26

62

10

26

Total

(737)

(668)

(223)

(337)

The positions “Interest expenses” and “Other financial expenses” relate primarily to financial liabilities measured at amortized cost, including amortization on bonds and private placements.

The position “Financial expenses capitalized” comprises interest expenditures on large-scale projects during the reporting period.