Notes to the statement of income

Operating income in other activities

Operating income in other activities was higher than the previous year, mainly due to lower corporate costs and insurance claims. Other operating income was impacted by lower restructuring charges.

Third quarter

 

 

 

January-September

2014

 

2015

 

in € millions

 

2014

 

2015

(53)

 

(50)

 

Corporate costs

 

(138)

 

(142)

(3)

 

(7)

 

Pensions

 

(12)

 

(20)

4

 

7

 

Insurances

 

12

 

5

(17)

 

(8)

 

Other

 

(44)

 

(32)

(69)

 

(58)

 

Operating income in other activities

 

(182)

 

(189)

Net financing expenses

Net financing expenses decreased due to lower external interest expenses following the repayment of a high interest bond in Q1 2015.

Operating income to net income

Third quarter

 

 

 

January-September

2014

 

2015

 

in € millions

 

2014

 

2015

335

 

436

 

Operating income

 

904

 

1,228

(38)

 

(28)

 

Net financing expenses

 

(115)

 

(96)

6

 

6

 

Results from associates and joint ventures

 

18

 

12

303

 

414

 

Profit before tax

 

807

 

1,144

(84)

 

(114)

 

Income tax

 

(216)

 

(304)

219

 

300

 

Profit from continuing operations

 

591

 

840

2

 

1

 

Profit from discontinued operations

 

4

 

(3)

221

 

301

 

Profit for the period

 

595

 

837

(16)

 

(16)

 

Non-controlling interests

 

(56)

 

(61)

205

 

285

 

Net income

 

539

 

776

Tax

The year-to-date effective tax rate was 27 percent (2014: 27 percent). The tax rate was positively impacted by favorable one-time adjustments and the tax effect of the divestment of the Paper Chemicals business. Excluding one-off items, the effective tax rate was 28 percent (2014: 28 percent).