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Note 7. Finance income and costs
€ million 2016 2015
Interest income and other finance income
Interest income on loans and receivables 11.3 7.8
Interest income on financial assets at fair value through profit or loss 0.7 0.8
Interest income on available-for-sale financial assets 1.6 1.6
Gains on disposal of available-for-sale financial assets 1.0 0.1
Other finance income 0.4 0.1
Total interest income and other finance income 15.0 10.4
Interest expense and other finance costs
Interest expense on financial liabilities at amortised cost -10.8 -11.6
Losses on disposal of available-for-sale financial assets 0.0 -1.1
Other finance costs -0.8 -1.6
Total interest expense and other finance costs -11.6 -14.2
Exchange differences
Exchange differences and changes in fair values of derivatives, borrowings denominated in foreign currencies not qualifying for hedge accounting, and cash at bank -4.4 -3.3
Total exchange differences -4.4 -3.3
Total finance income and costs -1.0 -7.1
The interest expense includes €0.1 million (€0.2 million) of interests on finance leases recognised as expenses for the period.
The realised result of interest rate derivatives used for hedging a USD-denominated Private Placement credit facility is recognised in net terms in interest expense with the loan interest.
Exchange differences recognised in the income statement
€ million 2016 2015
Sales -0.1 -0.1
Other income 2.7 6.6
Purchases 0.2 0.2
Other expenses -3.7 -5.4
Finance income and costs -4.4 -3.3
Total -5.3 -2.1