We have undertaken a prudent review, excluding restructuring effects, of the balance sheet, taking into account lower expected growth rates. This has resulted in a non-cash impairment charge against our Decorative Paint assets, primarily in Europe. In Europe, we recognized an impairment charge of €1.9 billion, in North America €0.4 billion and in South America €0.2 billion. In addition, we incurred higher restructuring costs across the businesses, mainly in mature markets, as we implement the performance improvement program.
|
3rd quarter |
|
January - September | ||||||
|
2011 |
2012 |
in € millions |
2011 |
2012 | ||||
|
(47) |
(101) |
Restructuring costs |
(76) |
(191) | ||||
|
– |
(2,478) |
Impairment |
– |
(2,478) | ||||
|
2 |
(5) |
Results related to major legal and environmental cases |
24 |
(24) | ||||
|
(5) |
(6) |
Results on acquisitions and divestments |
21 |
(6) | ||||
|
(1) |
(11) |
Other incidental results |
(5) |
(14) | ||||
|
(51) |
(2,601) |
Incidentals included in operating income |
(36) |
(2,713) | ||||