Bayer AG - Annual Report 2006 - Other operating income

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Financial Statements

10. Other operating income

	2005	2006
€ million
Gains from sales of noncurrent assets and from divestitures	150	169
Write-backs of receivables and other assets	79	98
Reversals of unutilized provisions	25	55
Recognition of exchange rate hedges	105	120
Miscellaneous operating income	416	288
	775	730

Other operating income for 2006 includes €86 million in connection with the first-time consolidation of the Schering companies. Total other operating income is composed of a large number of individually immaterial items pertaining to subsidiaries. In the previous year it was decided to modify several of Bayer’s largest pension plans in the United States, replacing defined-benefit plans with purely defined-contribution plans. This resulted in one-time income of €248 million in 2005, which was recognized in miscellaneous operating income.

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