Other income is comprised of the following:
|
Other income | ||
|
€ thousand |
2012 |
2011 |
|
|
|
|
|
Net gains on the Weichai transactions |
211,763 |
- |
|
Foreign currency exchange rate gains |
18,926 |
22,600 |
|
Profit from release of deferred lease profits |
10,593 |
6,886 |
|
Income from reversal of provisions |
5,196 |
6,638 |
|
Remeasurement of purchase price obligations |
4,557 |
11,971 |
|
Gains on disposal of non-current assets |
4,045 |
1,381 |
|
Rental income |
2,677 |
2,155 |
|
Sundry income |
36,617 |
29,872 |
|
Total other income |
294,374 |
81,503 |
Net gains on the Weichai transactions relate to the gain of €138,276 thousand from the disposal of the (indirect) controlling interest of 70 per cent in Linde Hydraulics (see also note [6]). Costs incurred in connection with the sale amounting to €35,205 thousand are also reported under net gains on the Weichai transactions.
In addition, the net gains on the Weichai transactions also include the gain arising from the remeasurement of the remaining shares (30 per cent) in Linde Hydraulics at fair value in the amount of €108,692 thousand.
The foreign currency exchange rate gains and losses result from the measurement of financial receivables and liabilities denominated in foreign currency and the measurement of corresponding derivatives. The foreign currency exchange rate gains include gains amounting to €9,670 thousand (2011: €11,354 thousand) on derivative financial instruments used to hedge operating exchange-rate risk. These gains were offset by foreign currency exchange rate losses (other expenses) of €5,101 thousand in 2012 (2011: €11,542 thousand). Overall, this resulted in a net gain of €4,569 thousand (2011: net loss of €188 thousand).
The remeasurement of purchase price obligations relates to the shares acquired in Linde Creighton Ltd., Basingstoke, United Kingdom in 2012. This gain results from the significantly improved market environment and a corresponding increase in the value of the investment (see also note [5]).
