Year ended December 31, 2016 Year ended December 31, 2015
FINANCIAL INCOME FROM FINANCIAL INSTRUMENTS    
Dividends 2 1
Interest 55 103
Revaluation of financial instruments, including: 117 33
Reversal of impairment allowances 90 2
Other derivatives 27 20
CO2 emission rights - 11
Gain on disposal of investments - 15
Foreign exchange gains 14 -
FINANCIAL INCOME ON FINANCIAL INSTRUMENTS 188 152
OTHER FINANCIAL INCOME    
Interest on statutory receivables 1 1
Reversal of provisions 1 1
Other 1 2
OTHER FINANCIAL INCOME 3 4
TOTAL FINANCIAL INCOME 191 156

The Group recognizes interest income primarily on cash.

The increase of Revaluation of financial instruments is mainly due to partly reversed impairment allowance of bonds issued by Autostrada Wielkopolska S.A. in the total amount of PLN 89 million.

Revaluation of other derivatives the Group includes an ineffective portion of CCIRS hedging transactions valuation designated as hedging instruments in the cash-flow hedge accounting and total valuation of other derivatives.

    Year ended December 31, 2016 Year ended December 31, 2015
FINANCIAL EXPENSES FROM FINANCIAL INSTRUMENTS    
Interest 131 123
Revaluation of financial instruments 10 -
CO2 emission rights 5 -
Other derivatives 5 -
Impairment loss 2 5
Foreign exchange losses 33 30
FINANCIAL EXPENSES FROM FINANCIAL INSTRUMENTS 176 158
OTHER FINANCIAL EXPENSES    
Interest expenses, including unwinding of the discount 180 156
Interest on statutory liabilities 1 1
Provisions created 25 5
Other 2 3
OTHER FINANCIAL EXPENSES 208 165
TOTAL FINANCIAL EXPENSES 384 323

Interest expense relates mainly to issued bonds, loans and borrowings. Interest expense (unwinding of the discount) on non-financial items relates mainly to rehabilitation provision and provisions for employee benefits.

7.4.1. Valuation of transaction related to trading in CO2 emission rights

As described in note 7.4 of these financial statements, income and expenses recognized under the heading “revaluation of the financial instruments” comprise result on transactions related to the CO2 emission rights (so-called trading portfolio). The following table illustrated the effects of particular items related to the CO2 emission rights on the financial income and expenses.

  Year ended December 31, 2016 Year ended December 31, 2015
Income    
Valuation of commodity forward 41 4
Profit on sale of CO2 emission rights outside of PGE Group 1 52
Profit on realization of currency forward - 4
INCOME RELATED TO TRADING IN CO2 EMISSION RIGHTS, TOTAL 42 60
Expenses    
Valuation of currency forward (1) (7)
Revaluation of trading portfolio (46) (42)
EXPENSES RELATED TO TRADING IN CO2 EMISSION RIGHTS, TOTAL (47) (49)
Financial income / (Expenses) related to trading in CO2 emission rights (5) 11