Financial Reporting - Rexel

7. | OTHER INCOME & OTHER EXPENSES
For the year ended December 31,
(in millions of euros) 2011 2010
Gains on disposal of consolidated entities …………………" " 26.1 -
Gains on disposal of tangible assets ……………………...…" " 8.4 2.9
Write-back asset impairment ……………………...……….…" " 0.2 -
Release of unused provisions ……………………………… " " 4.5 5.7
Other operating income ………………………………………" " 0.4 7.5
Total other income ……………………………………… " " 39.6 16.1
Restructuring costs …………………...……….………………" " (39.8) (65.2)
Losses on non-current assets disposed of …………………" " (2.0) (11.2)
Impairment of goodwill and fixed assets……………………" " (87.9) (40.9)
Acquisition related costs…………………………………….. " " (5.6) (2.2)
Other operating expenses ……………………………..…… " " (11.3) (4.3)
Total other expenses …………………………………… " " (146.6) (123.8)
7.1 | Other income
Capital gains
In 2011, €26.1 million gains on consolidated entities included (i) a gain related to the disposal of Hagemeyer
Brands Australia Pty Limited, a company involved in the distribution of consumer electronics and kitchen
appliances in Australia, corresponding to the exchange gain initially recognized in other comprehensive
income and reclassified from equity to profit and loss and (ii) a gain related to the disposal of Kompro B.V., a
company specialized in the retail distribution and maintenance of multi-function printers in The Netherlands.
In addition, other capital gains were mainly related to the disposal of the business of three commercial
branches in the United States for €5.3 million, the disposal of three operational buildings in France for €1.7
million, the disposal of the Spanish head office in Barcelona for €0.7 million and the disposal of tangible
assets for €0.4 million in Slovenia.
In 2010, capital gains were mainly related to the disposal of two branches in Sweden and one in Italy for €1.7
million and €0.7 million respectively.
Release of unused provisions
In 2011, this line item mainly included the release of provisions on litigations with French social security
authorities for €2.1 million and on the closing of the liquidation of Ceteco, a Dutch subsidiary of Hagemeyer
for €1.0 million.
In 2010, this line item included the release of unused provisions for restructuring.
Other operating income
In 2010, other operating income included a €3.6 million curtailment gain relating to the pension plan in The
Netherlands and a €3.7 million tax indemnification from the PPR group under a warranty granted to Rexel in
2005.
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