The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves.
Due to their short maturity and the current low level of interest rates, the carrying amounts of credit lines and bank overdrafts approximate fair value.
8. Financial result
| Quarter Ended March 31, | ||||
| 2019 | 2018 (1) | |||
| (€ in thousands) | ||||
| Interest expense | (917) | (268) | ||
| Interest expense on lease liability (2018: Finance lease obligations) | (43) | (36) | ||
| Long-term debt | (242) | (232) | ||
| Expense from revaluation of derivative financial instruments | (602) | -- | ||
| Other | (30) | -- | ||
| Interest income | 59 | 946 | ||
| Payout of bond funds | 54 | 5 | ||
| Income from revaluation of derivative financial instruments | -- | 941 | ||
| Other | 5 | -- | ||
| Financial result | (858) | 678 | ||
