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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)