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Notes to the statement of income


Operating income in Other activities

Operating income in Other activities in the quarter was lower than the previous year, mainly due to incremental project-related costs.

3rd quarter

 

 

 

January - September

2012

 

2013

 

in € millions

 

2012

 

2013

(28)

 

(40)

 

Corporate costs

 

(90)

 

(101)

2

 

(2)

 

Pensions

 

16

 

(7)

5

 

1

 

Insurances

 

(6)

 

4

(42)

 

(30)

 

Other

 

(88)

 

(85)

(63)

 

(71)

 

Operating income in Other activities

 

(168)

 

(189)

Net financing expenses

Net financing expenses increased by €6 million to €56 million, mainly due to lower discount rates for pensions.

Operating income to net income

3rd quarter

 

 

 

January - September

2012

 

2013

 

in € millions

 

2012

 

2013

248

 

303

 

Operating income (excluding impairment)

 

872

 

842

(2,106)

 

 

Impairment

 

(2,106)

 

(1,858)

 

303

 

Operating income (including impairment)

 

(1,234)

 

842

(50)

 

(56)

 

Net financing expenses

 

(167)

 

(152)

5

 

4

 

Results from associates and joint ventures

 

14

 

13

(1,903)

 

251

 

Profit/(loss) before tax

 

(1,387)

 

703

(64)

 

(83)

 

Income tax

 

(219)

 

(90)

(1,967)

 

168

 

Profit/(loss) from continuing operations

 

(1,606)

 

613

(392)

 

1

 

Profit/(loss) from discontinued operations

 

(414)

 

115

(2,359)

 

169

 

Profit/(loss) for the period

 

(2,020)

 

728

(9)

 

(14)

 

Non-controlling interests

 

(45)

 

(55)

(2,368)

 

155

 

Net income

 

(2,065)

 

673

Tax

The Q3 effective tax rate is 33 percent (2012: 34 percent excluding the impact of the impairment in the Decorative Paint business). Excluding one-off and non-deductible costs, the tax rate is 29 percent.

Copyright © 2013 Akzo Nobel N.V.