6 – Other Operating Income and Expenses
|
H1 |
|
|---|---|---|
|
2022 |
2021 |
Income from the adjustment and release of provisions recognized in other operating expenses |
18 |
40 |
Revenue from miscellaneous other activities |
84 |
68 |
Income from hedging transactions and the measurement of |
150 |
4 |
Income from foreign currency transactions and the translation of financial statements in foreign currencies |
44 |
37 |
Gains on divestitures and the disposal of noncurrent assets |
254 |
148 |
Reversals of impairment losses on noncurrent assets |
3 |
– |
Income from the reversal of valuation allowances for business-related receivables |
31 |
18 |
Gains/losses from precious metal trading |
161 |
262 |
Other |
167 |
262 |
Other operating income |
912 |
839 |
|
H1 |
|
|---|---|---|
|
2022 |
2021 |
Restructuring and integration measures |
219 |
171 |
Environmental protection and safety measures, costs of demolition and removal, and project costs not subject to mandatory capitalization |
201 |
151 |
Depreciation, amortization and impairments of noncurrent assets and of the disposal group |
109 |
41 |
Costs from miscellaneous revenue-generating activities |
76 |
62 |
Expenses from hedging transactions and the measurement of |
30 |
48 |
Losses from foreign currency transactions and the translation of financial statements in foreign currencies |
152 |
66 |
Losses from divestitures and the disposal of noncurrent assets |
21 |
5 |
Expenses from the addition of valuation allowances on business-related receivables |
40 |
28 |
Expenses for derecognition of obsolete inventory |
113 |
102 |
Other |
308 |
315 |
Other operating expenses |
1,269 |
989 |
The increase in income from hedging transactions and the measurement of LTI programs was attributable to income from virtual power purchase agreements and from hedges for natural gas and raw materials in North America. In addition, income arose from the release of provisions for the long-term incentive (LTI) programs.
The gains on divestitures and the disposal of noncurrent assets in the first half of 2022 was mainly due to the sale of 25.2% of the Hollandse Kust Zuid (HKZ) offshore wind farm.
Other income decreased, primarily as a result of lower income from tax refunds.
The increase in expenses for restructuring and integration measures in the first half of 2022 was attributable to the discontinuation of activities in Russia and Belarus, with the exception of business to support food production, and to restructuring activities to improve competitiveness in various operating divisions.
By contrast, the expenses for the integration of the battery materials business, which was acquired in China in 2021, were significantly lower than the expenses for the integration of Solvay’s global polyamide business in the prior-year period.
The increase in depreciation, amortization and impairments of noncurrent assets and of the disposal group in the first half of 2022 was due largely to impairments in connection with the agreed divestiture of the De Meern site in the Netherlands.