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14 Financial income and financial expense

In CHF million   2015   2014
Interest income on financial assets   10   10
Capitalised borrowing costs   8   12
Gain on sale of subsidiaries. See Note 5.   19  
Gain on successive company acquisitions. See Note 5.     82
Foreign exchange gains     1
Other financial income   6   7
Total financial income   43   112
Interest expense on financial liabilities   (199)   (228)
Change in fair value of interest rate swaps   (13)   (46)
Interest expense on defined benefit obligations. See Note 10.   (26)   (24)
Foreign exchange losses   (40)  
Present-value adjustments on provisions   (13)   (16)
Expense of early repayment of financial liabilities. See Note 26.     (41)
Other financial expense   (24)   (17)
Total financial expense   (315)   (372)
Financial income and financial expense, net   (272)   (260)

The net interest expense on financial assets and financial liabilities is to be analysed as follows:

In CHF million   2015   2014
Interest income on cash and cash equivalents     1
Interest income on other financial assets   10   9
Total interest income on financial assets   10   10
Interest expense on bank loans, debenture bonds and private placements   (162)   (189)
Interest expense on finance lease liabilities   (32)   (36)
Interest expense on other financial liabilities   (5)   (3)
Total interest expense on financial liabilities   (199)   (228)
Total financial income and financial expense, net   (189)   (218)