Notes to the statement of income
Operating income in other activities
Operating income in other activities was lower than the previous year. Corporate costs were higher due to planned functional transformation projects. Pension costs were impacted by de-risking initiatives.
Operating income
Second quarter |
|
January-June |
||||||
2014 |
2015 |
in € millions |
2014 |
2015 |
||||
(41) |
(45) |
Corporate costs |
(85) |
(92) |
||||
(3) |
(6) |
Pensions |
(9) |
(13) |
||||
5 |
7 |
Insurances |
8 |
(2) |
||||
(12) |
(10) |
Other |
(27) |
(24) |
||||
(51) |
(54) |
Operating income in other activities |
(113) |
(131) |
||||
Net financing expenses
Net financing expenses decreased due to lower external interest expenses and reduced interest on provisions.
Operating income to net income
Second quarter |
|
January-June |
||||||
2014 |
2015 |
in € millions |
2014 |
2015 |
||||
353 |
486 |
Operating income |
569 |
792 |
||||
(40) |
(27) |
Net financing expenses |
(77) |
(68) |
||||
6 |
8 |
Results from associates and joint ventures |
12 |
6 |
||||
319 |
467 |
Profit before tax |
504 |
730 |
||||
(89) |
(108) |
Income tax |
(132) |
(190) |
||||
230 |
359 |
Profit from continuing operations |
372 |
540 |
||||
(1) |
(1) |
Profit from discontinued operations |
2 |
(4) |
||||
229 |
358 |
Profit for the period |
374 |
536 |
||||
(24) |
(27) |
Non-controlling interests |
(40) |
(45) |
||||
205 |
331 |
Net income |
334 |
491 |
||||
Tax
The year-to-date effective tax rate was 26 percent (2014: 26 percent). The tax rate was positively impacted by favorable one-time adjustments and the tax effect of the divestment. Excluding one-off items the effective tax rate was 28 percent (2014: 28 percent).