Notes to the statement of income
Operating income in other activities
Operating income in other activities was better than prior year, mainly coming from lower insurance claims. Corporate costs declined as a result of cost control.
|
2nd quarter |
|
January - June |
||||||
|
2013 |
2014 |
in € millions |
2013 |
2014 |
||||
|
(43) |
(41) |
Corporate costs |
(88) |
(85) |
||||
|
(2) |
(3) |
Pensions |
(5) |
(9) |
||||
|
(3) |
5 |
Insurances |
3 |
8 |
||||
|
(16) |
(12) |
Other |
(28) |
(27) |
||||
|
(64) |
(51) |
Operating income in other activities |
(118) |
(113) |
||||
Net financing expenses
Net financing expenses increased €7 million to €40 million. While interest expenses on net debt were lower, the interest on provisions was a charge compared with a gain in 2013, due to a change of discount rates.
Operating income to net income
|
2nd quarter |
|
January - June |
||||||
|
2013 |
2014 |
in € millions |
2013 |
2014 |
||||
|
322 |
353 |
Operating income |
539 |
569 |
||||
|
(33) |
(40) |
Net financing expenses |
(96) |
(77) |
||||
|
6 |
6 |
Results from associates and joint ventures |
9 |
12 |
||||
|
295 |
319 |
Profit before tax |
452 |
504 |
||||
|
38 |
(89) |
Income tax |
(7) |
(132) |
||||
|
333 |
230 |
Profit from continuing operations |
445 |
372 |
||||
|
121 |
(1) |
Profit from discontinued operations |
114 |
2 |
||||
|
454 |
229 |
Profit for the period |
559 |
374 |
||||
|
(25) |
(24) |
Non-controlling interests |
(41) |
(40) |
||||
|
429 |
205 |
Net income |
518 |
334 |
||||
Tax
The year-to-date effective tax rate is 26 percent. Excluding the positive adjustment to previous years recorded in Q1 2014, the effective tax rate is 28 percent (2013: 29 percent excluding a deferred tax gain).