10. Financial Income/Expense, Net
Financial income/expense, net for the years ended December 31 is as follows:
 |
|
|
|
|
|
|
|
|
|
2003 |
|
2002 |
|
2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(000) |
|
(000) |
|
(000) |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and similar income |
|
47,436 |
|
38,311 |
|
55,910 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and similar expenses |
|
3,999 |
|
- 13,524 |
|
- 22,244 |
|
|
|
 |
|
|
|
|
|
|
|
|
Interest income, net |
|
43,437 |
|
24,787 |
|
33,666 |
|
|
|
|
|
|
|
|
|
|
|
|
Gain/loss from investments, net |
|
22 |
|
- 394,039 |
|
- 165,499 |
|
|
|
|
|
|
|
|
|
|
|
|
thereof from associated
companies |
|
234 |
|
- 394,589 |
|
- 165,499 |
|
|
|
|
|
|
|
|
|
|
|
|
Income from marketable securities
and loans of financial assets |
|
2,636 |
|
2,647 |
|
1,771 |
|
|
|
|
|
|
|
|
|
|
|
|
Write-down of financial assets |
|
22,663 |
|
- 133,098 |
|
- 75,586 |
|
|
|
|
|
|
|
|
|
|
|
|
Gains on sales of marketable
equitiy securities |
|
2,224 |
|
3,057 |
|
23,632 |
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized loss on STAR hedge |
|
15,213 |
|
- 58,909 |
|
- 50,901 |
|
|
|
|
|
|
|
|
|
|
|
|
Other net |
|
5,844 |
|
256 |
|
- 57 |
|
|
|
|
|
|
|
|
|
|
|
|
Other financial income/loss, net |
|
27,172 |
|
- 186,047 |
|
- 101,141 |
|
|
|
 |
|
|
|
|
|
|
|
|
|
16,287 |
|
- 555,299 |
|
- 232,974 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income is derived primarily from cash and cash equivalents, long-term investments, and other assets.
The loss from associated companies in 2002 includes 389,630 thousand related to the Companys investment in Commerce One, of which 297,632 thousand is due to an other-than-temporary impairment charge.
See Notes 16 and 24 regarding write-downs of financial assets and unrealized losses on STAR hedge respectively.
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