talanx group annual report 2011 en
talanx group annual report 2011 en
talanx group annual report 2011 en
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268<br />
Financial statem<strong>en</strong>ts Notes<br />
G<strong>en</strong>eral information<br />
Talanx Group. Annual Report <strong>2011</strong><br />
Accounting principles<br />
and policies<br />
(32) Other income/exp<strong>en</strong>ses<br />
Segm<strong>en</strong>t <strong>report</strong>ing Consolidation,<br />
business combinations<br />
Non-curr<strong>en</strong>t assets held for<br />
sale and disposal <strong>group</strong>s<br />
<strong>2011</strong> 2010 1)<br />
Figures in EUR million<br />
Other income<br />
Foreign exchange gains 121 262<br />
Income from services and r<strong>en</strong>ts 138 194<br />
Reversals of impairm<strong>en</strong>ts on receivables<br />
Income from contracts recognised in accordance<br />
21 98<br />
with the deposit accounting method 49 50<br />
Profits from the disposal of property, plant and equipm<strong>en</strong>t 1 9<br />
Income from the release of other non-technical provisions 88 143<br />
Interest income 108 44<br />
Commission income 59 57<br />
Income from the repurchase of own securities 3 4<br />
Sundry income 116 86<br />
Total 704 947<br />
Other exp<strong>en</strong>ses<br />
Foreign exchange losses 105 120<br />
Other interest exp<strong>en</strong>ditures 165 158<br />
Depreciation and impairm<strong>en</strong>ts 94 110<br />
Exp<strong>en</strong>ses for the company as a whole 2) 216 226<br />
Exp<strong>en</strong>ses for personnel 41 19<br />
Exp<strong>en</strong>ses for services 2) 89 164<br />
Other taxes 22 51<br />
Exp<strong>en</strong>ses from the recognition of disposal <strong>group</strong>s 4 55<br />
Allocation for restructuring provisions (“WIR” project) 80 —<br />
Sundry exp<strong>en</strong>ses 215 183<br />
Total 1,031 1,086<br />
Other income/exp<strong>en</strong>ses –327 –139<br />
1) Adjusted on the basis of IAS 8<br />
2) In the previous year a portion of the exp<strong>en</strong>ses for the company as a whole was erroneously recognised under exp<strong>en</strong>ses for<br />
services. We have adjusted the comparable figures accordingly (reclassification of EUR 63 million)<br />
Other income/exp<strong>en</strong>ses does not in g<strong>en</strong>eral include personnel exp<strong>en</strong>ses of our insurance companies<br />
in as far as these exp<strong>en</strong>ses are attributed according to function units by means of cost<br />
object accounting and allocated to exp<strong>en</strong>ses for investm<strong>en</strong>ts, claims and claims exp<strong>en</strong>ses as well<br />
as acquisition costs and administrative exp<strong>en</strong>ses. In the same way this also applies to depreciation<br />
and impairm<strong>en</strong>ts of intangible and other assets of our insurance companies.<br />
The increase in other interest income stems primarily from the interest portion of the tax refund<br />
as a result of the fiscal court (BFH) ruling of the previous year. Please see our explanatory remarks in<br />
the Notes, item 35 “Taxes on income”.<br />
The allocation for restructuring provisions relates to the implem<strong>en</strong>tation of our strategic ori<strong>en</strong>tation.<br />
The amount recognised in the year under review is comprised of exp<strong>en</strong>ses within the scope of<br />
our “WIR” project.