| 2011 | 2012 | ||
|---|---|---|---|
| CHF thousands | |||
| Expenses for current financial assets | 1,701 | 4,270 | |
| Expenses for liabilities | 29,530 | 23,615 | |
| Exchange rate losses | 15,261 | 7,565 | |
| Total | 46,492 | 35,450 |
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 items and measurement categories
| Balance sheet item | Detailed item | IAS 39 measurement category | 2011 | 2012 |
| Securities and other financial instruments | Other securities and financial instruments | Held for trading | 258 | 3,177 |
| Receivables | Trade accounts receivable | Loans and receivables | 347 | - |
| Cash and cash equivalents | Sight funds and cash invested for less than 90 days | Loans and receivables | 1,096 | 1,093 |
| Current and non-current financial liabilities | Loans and other financial liabilities | Other financial liabilities | 19,494 | 19,266 |
| Current financial liabilities | Negative replacement values | Held for trading | 7,402 | 1,491 |
| Other current liabilities | Trade accounts payable | Other financial liabilities | 2,366 | 2,393 |
| Non-current provisions | Provisions for contract risks, reversions and other provisions | n/a | 268 | 465 |
| Exchange rate losses | 15,261 | 7,565 | ||
| Total | 46,492 | 35,450 |
Interest expense for recognised financial liabilities which were not measured at fair value amounts to TCHF 19,266 (previous year: TCHF 19,494). Bank fees and commissions for recognised financial assets and liabilities which were not measured at fair value amount to TCHF 977 (previous year: TCHF 1,683).