AAK Annual Report 2017

69 127( ± 27+(5 23(5$7,1* ,1&20( Group Parent 2017 2016 2017 2016 Other operating income 129 109 0 0 Total 129 109 0 0 NOTE 11 – FINANCIAL ITEMS Group Parent 2017 2016 2017 2016 Interest income 11 6 - - Share of profit in associated companies 10 10 - - Other financial income 3 0 - - Group contributions - - 67 63 Financial income 24 16 67 63 Interest expenses -112 -159 -5 -0 Changes in exchange rates -9 -7 -1 -0 Other financial expenses -23 -20 -3 -4 Financial expenses -144 -186 -9 -4 Net financial items -120 -170 58 59 127( ± 7$; (;3(16(6 Tax expenses for the year Group Parent 2017 2016 2017 2016 Current tax -409 -453 -1 -5 Deferred tax -45 48 3 - Total -454 -405 2 -5 Determination of the current tax expense The Group’s weighted average underlying tax rate is approximately 27–28 percent. The Group’s weighted average tax rate for 2017, based on the tax rates in each of the various countries involved, was 27 percent. The tax rate in Sweden is 22 percent (22). Group Parent 2017 2016 2017 2016 Profit before taxes 1,666 1,445 -11 -14 Weighted average tax rate based on the tax rates in each country -400 -384 2 3 Tax effect of non-deductible expenses -17 -22 -3 -3 Tax effect of tax-exempt income 13 12 - - Effect of deficit deductions not carried forward -70 -28 - - Effect of tax rate changes 35 2 - - Adjustment for current tax for previous years -15 15 3 -5 Tax expense -454 -405 2 -5