6 Financial result

In CHF million	1.1.–31.3.2018	1.1.–31.3.2017
Interest income on financial assets	2	4
Change in fair value of interest rate swaps	8	–
Capitalised borrowing costs	1	1
Other financial income	6	–
Total financial income	17	5
Interest expense on financial liabilities	(37)	(40)
Interest expense on defined benefit obligations	(2)	(3)
Foreign exchange losses	(3)	(4)
Present-value adjustments on provisions	(2)	(1)
Change in fair value of interest rate swaps	–	(1)
Other financial expense	(14)	(5)
Total financial expense	(58)	(54)
Financial income and financial expense, net	(41)	(49)

Net interest expense	(35)	(36)