9 – Income from companies accounted for using the equity method

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Million €

2013

2012

Proportional net income

298

370

Thereof joint ventures

86

119

associated companies

212

251

Other adjustments of income and expense

(9)

Thereof joint ventures

(8)

(19)

associated companies

8

10

Income from companies accounted for using the equity method

298

361

The largest portion of income from companies accounted for using the equity method came from the Oil & Gas segment, mostly from OAO Severneftegazprom and Wintershall AG. Shareholdings in Styrolution Holding GmbH and BASF-YPC Company Ltd. also contributed significantly to income.

Income declined by €63 million compared with the previous year because the carrying amounts of equity-accounted companies in the natural gas trading disposal group remained unchanged since the group’s creation in November 2012, and are only tested for impairment. Furthermore, strikes at export terminals have led to the suspension of all onshore oil and associated gas-producing activities in Libya since July 2013.