8 Financial result

In CHF million	Note	2023	2022
Financial income
Interest income		57	24
Net gains on foreign exchange		–	7
Net income from equity instruments		10	2
Total financial income		67	33

Financial expenses
Interest expenses		12	13
Interest expenses on lease liabilities	18	13	10
Net interest on employee benefits	6	8	5
Increase in present value of provisions	20	7	9
Net losses on foreign exchange		10	–
Other financial expenses		30	40
Total financial expenses		80	77

Financial result		–13	–44

Other financial expenses mainly comprise bank charges and financial transaction costs. Interest income and interest expense relate predominantly to financial instruments measured at amortized cost.