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5 Financial expenses

5 Financial expenses
    2010 2011
  CHF thousands    
       
  Expenses for current financial assets 3,998 1,701
  Expenses paid on liabilities 28,525 29,530
  Exchange rate losses 29,876 15,261
  Total 62,399 46,492

Exchange rate gains and losses are recognised net. As in the previous year, there was also an exchange rate loss in the year under review, which is recognised as a financial expense in the statement of comprehensive income.

Financial expenses apply to the following positions and measurement categories:

Balance sheet position Detailed position IAS 39 measurement category 2010 2011
Securities and other financial instruments Other securities and financial instruments Held for trading 2,692 258
Receivables Trade accounts receivables Loans and receivables 209 347
Cash and cash equivalents Sight funds and cash invested for less than 90 days Loans and receivables 1,097 1,096
Current and non-current financial liabilities Loans and other financial liabilities Other financial liabilities 23,041 19,494
Current financial liabilities Negative replacement values Held for trading 3,454 7,402
Other current liabilities Trade accounts payable Other financial liabilities 1,678 2,366
Non-current provisions Provisions for contract risks, reversions and other provisions n/a 352 268
Exchange rate losses     29,876 15,261
Total     62,399 46,492

Interest expense for recognised financial liabilities which were not measured at fair value amounts to TCHF 19,494 (previous year: TCHF 23,041). Bank fees and commissions for recognised financial assets and liabilities which were not measured at fair value amount to TCHF 1,683 (previous year: TCHF 1,232).