9. Finance Costs and Finance Income 10. Share of Associates’ (Loss)/Profit (i)  The Group uses interest rate swaps to convert fixed rate debt to floating rate. Fixed rate debt, which has been converted  to floating rate through the use of interest rate swaps, is stated in the Consolidated Balance Sheet at adjusted value to  reflect movements in underlying fixed rates. The movement on this adjustment, together with the offsetting movement  in the fair value of the related interest rate swaps, is included in finance costs in each reporting period. The Group’s share of associates’ result after tax is equity-accounted and is presented as a single-line item in the Consolidated  Income Statement; it is analysed as follows between the principal Consolidated Income Statement captions: An analysis of the result after tax by operating segment is presented in note 1. The aggregated balance sheet data  (analysed between current and non-current assets and liabilities) in respect of the Group’s investment in associates is  presented in note 16. The Group completed its annual impairment review in relation to its other associate investments; no further impairments  were recorded as a result of this review. (i)  As a result of a worsening macro-economic outlook for Spain, together with a less positive forecast for Spanish  construction activity in the medium term, and in the context of restructuring measures currently being implemented by  the company, we have recorded an impairment charge of €146 million in respect of our 26% investment in our associate  Uniland (part of the Europe Materials segment). The resulting carrying value of €143 million for this investment has been  reclassified to Asset held for sale in the Consolidated Balance Sheet at 31 December 2012 (see note 16 (ii)). 90 CRH 2012 2011 €m €m Finance costs Interest payable on borrowings  333   335  Net income on interest rate and currency swaps (47) (65) Mark-to-market of derivatives and related fixed rate debt: - interest rate swaps (i)  22   12  - currency swaps and forward contracts  3  (2) - fixed rate debt (i) (34) (15) Net gain on interest rate swaps not designated as hedges  - (3) Net finance cost on gross debt including related derivatives  277   262  Finance income Interest receivable on loans to joint ventures and associates (2) (3) Interest receivable on liquid investments, cash and cash equivalents and other (17) (30) Finance income  (19) (33) Finance costs less income  258   229  Other financial expense Unwinding of discount element of provisions for liabilities (note 26)  15   15  Unwinding of discount applicable to deferred and contingent acquisition consideration  9   6  Pension-related finance cost (net) (note 28)  7   7  Total  31   28  2012 2011 €m €m Group share of: Revenue  978   1,095  Profit before finance costs and impairments  68   92  Impairments (i) (146) (11) Finance costs (net) (26) (19) (Loss)/profit before tax (104)  62  Income tax expense (8) (20) (Loss)/profit after tax  (112)  42 