EBIT in “other”
Corporate costs are in line with the previous year. The result of our captive insurance companies was negative mainly due to higher claims compared to the prior year. Other costs were higher than last year when there were favorable non-recurring items.
|
2nd quarter |
|
January - June | ||||||
|
2011 |
2012 |
in € millions |
2011 |
2012 | ||||
|
(25) |
(24) |
Corporate costs |
(50) |
(56) | ||||
|
(5) |
– |
Pensions |
(7) |
(1) | ||||
|
5 |
(9) |
Insurances |
8 |
(10) | ||||
|
(8) |
(18) |
Other |
(23) |
(41) | ||||
|
(33) |
(51) |
EBIT in “other” |
(72) |
(108) | ||||
Net financing expenses
Net financing charges for Q2 2012 increased by €18 million to €82 million driven by:
- Interest on provisions which increased by €6 million to €18 million mainly due to lower discount rates
- Other items decreased €7 million reflecting lower interest income from foreign currency results of hedged future interest cash flows.
Tax
The Q2 tax rate is 27 percent (2011: 27 percent). It is slightly lower than normal due to the fact that we benefitted from the recognition of a previously unrecognized loss. The year-to-date tax rate is 29 percent (2011: 29 percent).