Other income and expenses
The financial result from other income and expenses amounted to RUB 14.3 billion.
Key revenues received by FPC as part of other income were government subsidies allocated as a compensation for the revenue shortfall caused by the government regulation of the prices of long-distance fares for third-class sitting and sleeping carriages. Government subsidies allocated with regard to the results of transport services in 2016 amounted to RUB 18.9 billion (76.8% of the 2015 level).
A significant part of revenue from other budgeted income and expenses was interest on bank deposits and interest accrued oncurrent account balances. Through effective management of FPC’s liquidity, in 2016 we generated RUB 0.9 billion (78.3% of the 2015 level) from placement of surplus funds on deposits.
Over 2016, we posted a foreign exchange gain of RUB 0.5 billion (92.8% of the 2015 level) during FX settlements.
The main items in other expenses are interest expenses on loans, amounting to RUB 2.0 billion (102.2% of the 2015 level), and cash collection and bank account management costs, which totalled RUB 1.9 billion for the year (116.4% of the 2015 level).
FX rate changes during FX settlements resulted in a foreign exchange loss of RUB 0.5 billion for 2016 (49.0% of the 2015 level).