9. Financial income/(expenses)

In addition to the items forming part of the specifi c lines of profi t or loss, the following analysis of Net fi nancial income/(expenses) in 2014 also takes into account the Interest income from customers and other fi nancial income of Financial Services included in Net revenues for $1,015 million ($962 million in 2013) and the costs incurred by Financial Services included in Interest expense and other fi nancial charges from Financial Services included in Cost of sales for $791 million ($721 million in 2013).

A reconciliation to the income statement is provided under the following table.

($ million)20142013
Financial income:    
Interest income and other financial income 67 55
Interest income from customers and other financial income of Financial Services 1,015 962
Total financial income 1,082 1,017
of which:    
Financial income, excluding Financial Services (a) 67 55
Interest and other financial expenses:    
Interest cost and other financial expenses 1,269 1,186
Write-downs of financial assets 151 124
Interest costs on employee benefits 82 82
Total interest and other financial expenses 1,502 1,392
Net (income)/expenses from derivative financial instruments and exchange differences 132 (1)
Total interest and other financial expenses, net (income)/expenses from derivative financial instruments and exchange differences 1,634 1,391
of which:    
Interest and other financial expenses, effects resulting from derivative financial instruments and exchange differences, excluding Financial Services (b) 843 670
Net financial income/(expenses) excluding Financial Services (a) - (b)                                                                                                            (776) (615)

Interest earned and other fi nancial income may be analyzed as follows:

($ million)20142013
Interest income from banks 18 15
Other interest income and financial income 49 40
Total Interest income and other financial income 67 55

Interest cost and other fi nancial expenses may be analyzed as follows:

($ million)20142013
Interest expenses on bonds 458 494
Bank interest expenses 326 225
Interest expenses on trade payables 1 1
Commission expenses 16 17
Other interest cost and other financial expenses 468 449
Total Interest cost and other financial expenses 1,269 1,186

Interest cost and other fi nancial expenses includes in 2014 a pre-tax charge of $71 million due to the re-measurement of Venezuelan assets denominated in bolivares following the changes in Venezuela’s exchange rate mechanism.

Other interest cost and other fi nancial expenses include, amongst other things, interest cost on asset-backed fi nancing.