macquarie.com.au  2014 Annual Financial Report  Macquarie Group Limited and its subsidiaries  Notes to the financial statements  for the financial year ended 31 March 2014  continued  Consolidated 2014  $m  Consolidated 2013  $m  Company  2014  $m  Company  2013  $m  Note 2  Profit for the financial year Net interest income  Interest and similar income received/receivable  4,611  4,649  339  292  Interest expense and similar charges paid/payable  (2,906)  (3,282)  (410)  (366)  Net interest income/(expense)  1,705  1,367  (71)  (74)  Fee and commission income  Base fees  1,289  1,019  –  –  Performance fees  219  164  –  –  Mergers and acquisitions, advisory and underwriting fees  809  659  –  –  Brokerage and commissions  903  811  –  –  Other fee and commission income  633  726  9  –  Total fee and commission income  3,853  3,379  9  –  Net trading income  (1) Equities  382  181  –  –  Commodities  1,102  699  –  –  Credit, Interest rate and foreign exchange products  86  354  5  –  Net trading income  1,570  1,234  5  –  Share of net profits of associates and joint ventures accounted for using the equity method  149  92  –  –  (1) Included in net trading income are fair value gains of $484 million (2013: $236 million) relating to financial assets and financial liabilities  designated as held at fair value through profit or loss. Fair value changes relating to derivatives are also reported in net trading income  which principally offsets the fair value changes relating to the financial assets and financial liabilities designated at fair value. This also  includes fair value changes on derivatives used to hedge the Consolidated Entity's economic interest rate risk where hedge accounting  requirements are not met – refer to note 1(xi) – Summary of significant accounting policies.  114 