Notes

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5 Other operating income

€ million

 

2021

 

2020

 

 

 

 

 

Income from reversal of loss allowances on receivables and other assets

 

1,754

 

1,334

Income from reversal of provisions and accruals

 

1,236

 

1,086

Income from foreign currency hedging derivatives within hedge accounting

 

910

 

1,185

Income from other hedges

 

3,547

 

1,709

Income from foreign exchange gains

 

2,610

 

2,588

Income from sale of promotional material

 

398

 

312

Income from cost allocations

 

1,040

 

1,039

Income from investment property

 

10

 

10

Gains on asset disposals and the reversal of impairment losses on noncurrent assets

 

771

 

299

Miscellaneous other operating income

 

2,455

 

2,876

 

 

14,731

 

12,438

Foreign exchange gains mainly comprise gains from changes in exchange rates between the dates of recognition and payment of receivables and liabilities denominated in foreign currencies, as well as exchange rate gains resulting from measurement at the closing rate. Foreign exchange losses from these items are included in other operating expenses.

Income from other hedges includes primarily foreign exchange gains from the fair value measurement of financial instruments used to hedge exchange rates and commodity prices and that are not designated in a hedging relationship. Foreign exchange losses are included in other operating expenses.

In the previous year, the contribution of AID to Argo AI at fair value resulted, after proportional profit elimination, in a non-cash gain of €0.8 billion, which was recognized in the other operating result.