7 – Other operating income

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Million €

2013

2012

Reversal of provisions

125

121

Revenue from miscellaneous revenue-generating activities

200

145

Income from foreign currency and hedging transactions

116

69

Income from the translation of financial statements in foreign currencies

29

33

Gains on the disposal of fixed assets and divestitures

640

698

Income on the reversal of valuation allowances for business-related receivables

39

60

Other

530

583

Other operating income

1,679

1,709

The reversal 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 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 translations of receivables and payables as well as changes in fair value of 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 fixed assets and divestitures arose in the amount of €429 million from the reclassification of GASCADE Gastransport GmbH, Kassel, Germany, due to loss of control after changes in corporate governance. In addition, there were disposal gains amounting to €164 million on the divestiture of a 15-percent share in the Edvard Grieg development project in return for assets from Statoil ASA. The previous year had particularly included €645 million in gains from the sale of the fertilizer activities.

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

Other included government grants and government assistance from several countries in favor of BASF amounting to €136 million. These were primarily attributable to price compensation for gas producers from the Argentinian government, which was introduced in connection with the New Gas Price Scheme (NGPS) due to the lower, partly locally regulated gas prices.

Furthermore, miscellaneous income included the delayed earnings contribution from the fertilizer business in both years. Further income in both years was related to gains from precious metal trading, insurance refunds, curtailments of various pension plans, reversal of impairments on property, plant and equipment, and a number of other items.