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|
Million € |
2011 |
2010 |
|---|---|---|
|
Income from companies accounted for using the equity method |
48 |
201 |
|
Income from participations in affiliated and associated companies |
56 |
59 |
|
Income from the disposal of participations |
890 |
48 |
|
Income from profit transfer agreements |
15 |
24 |
|
Income from tax allocation to participating interests |
5 |
6 |
|
Other income from participations |
966 |
137 |
|
Losses from loss transfer agreements |
(7) |
(5) |
|
Write-down of/losses from the sales of participations |
(23) |
(34) |
|
Other expenses from participations |
(30) |
(39) |
|
Interest income from cash and cash equivalents |
177 |
131 |
|
Interest and dividend income from securities and loans |
12 |
19 |
|
Interest income |
189 |
150 |
|
Interest expenses |
(763) |
(773) |
|
Write-ups/profits from the sale of securities and loans |
1 |
1 |
|
Expected income from plan assets to cover pensions and similar obligations |
819 |
765 |
|
Income from plan assets to cover other long-term employee obligations |
14 |
18 |
|
Income from the capitalization of construction interest |
73 |
65 |
|
Miscellaneous financial income |
2 |
17 |
|
Other financial income |
909 |
866 |
|
Write-downs/losses from the disposal of securities and loans |
(3) |
(5) |
|
Interest cost on pension obligations and other similar obligations |
(833) |
(819) |
|
Expenses from/interest cost on other long-term employee obligations |
(32) |
(47) |
|
Interest cost on other long-term debts |
(67) |
(59) |
|
Miscellaneous financial expenses |
– |
– |
|
Other financial expenses |
(935) |
(930) |
|
Financial result |
384 |
(388) |
The decline in income from companies accounted for using the equity method resulted primarily from the lower income contribution from OAO Severneftegazprom as well as from the earnings effects from the final application of the equity method for the South Korean company Heesung Catalysts Corporation.
Income from the disposal of participations was primarily attributable to the sale of 19.7 million shares in K+S Aktiengesellschaft, which resulted in a gain of €887 million.
The interest result improved compared with the previous year due to higher interest income and declining interest expenses. The increase in interest income is primarily attributable to income from interest and currency swaps as well as higher interest rates compared with the previous year. The repayment of two bonds led to lower interest expenses.
Miscellaneous financial income and miscellaneous financial expenses relate to gains and losses from the translation of individually hedged financing-related receivables and payables and the associated hedging instruments. Furthermore, these items include expense and income from the compounding and discounting of long-term liabilities and receivables as required by IFRS.
