✓ audited

7 – Other operating income

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Million €

2012

2011

Reversal and adjustment of provisions

121

170

Revenue from miscellaneous revenue-generating activities

145

207

Income from foreign currency and hedging transactions

73

170

Income from the translation of financial statements in foreign currencies

32

42

Gains on the disposal of property, plant and equipment and divestitures

701

666

Gains on the reversal of allowances for business-related receivables

60

77

Other

590

676

 

1,722

2,008

The reversal and adjustment of provisions was primarily related to closures and restructuring measures, employee obligations, risks from lawsuits and damage claims as well as various other items as part of the normal course of business. Provisions were reversed or adjusted if the circumstances on the balance sheet date were such that utilization was no longer expected or expected to a lesser extent.

Revenue from miscellaneous revenue-generating activities primarily included income from rentals, property sales, catering operations, cultural events and logistics services.

Income from foreign currency and hedging transactions concerned foreign currency transactions, the measurement at fair value of receivables and payables in foreign currencies as well as currency derivatives and other hedging transactions.

Income from the translation of financial statements in foreign currencies included gains arising from the translation of subsidiaries outside of the eurozone that use the euro as their functional currency.

Gains on the disposal of property, plant and equipment and divestitures arose in particular from the sale of the fertilizer activities, which resulted in gains of €645 million. In the previous year, this item contained €593 million from the transfer of the styrenics business into the Styrolution joint venture.

Gains on the reversal of allowances for business-related receivables resulted mainly from the settlement in 2012 of receivables for which a valuation allowance had been recorded.

Other income contained legal settlements of €19 million in 2012 and €186 million in 2011. Further income in 2012 was due to payments related to the earnings in the fertilizer business, gains from precious metal trading, insurance refunds, curtailment of various pension plans, reversal of impairments on property, plant and equipment, and a number of other items.