2011 Annual Report - Italcementi Group

28. Other operating income (expense)
Other operating expense net of other operating income amounted to 30,239 thousand euro, as follows:
(in thousands of euro) 2011 2010 Change
Other taxes 79,850 76,346 3,504
Provision for bad debts 25,901 11,552 14,348
Provision for environmental restoration, quarries, other 66,460 71,515 (5,055)
Miscellaneous income (141,972) (99,472) (42,500)
Total 30,239 59,942 (29,704)
2011 “Miscellaneous income” included net capital gains of 59.8 million euro on CO 2 emission rights trading
(55.2 million euro in 2010) and income from reimbursement of “new entry” CO 2 quotas assigned to Italcementi
S.p.A. for the period 2008-2012; the amount, 18.9 million euro, represents the present value of the receivable
at December 31, 2011.
29. Non-recurring income (expense)
Non-recurring income net of non-recurring expense amounted to 40,744 thousand euro and referred chiefly to
gains from the sale of property, plant and equipment and intangible assets, employee expense for reorganizations
and industrial restructurings, fines and penalties.
(in thousands of euro) 2011 2010
Net gains from the sale of non-current assets 66,275 9,384
Non-recurring expenses for re-organizations (25,566) (11,850)
Other non-recurring income (expense) 35 153
Total non-recurring income (expense) 40,744 (2,313)
Net gains included the gain from the sale of Axim operations for 33.6 million euro and the net gain of 14.0
million euro from the sale of Italgen Turkey and Bares, whose main asset was the license for the Balikesir wind
farm project in Turkey.
In 2011 expense for re-organizations referred mainly to Italy, specifically the Calcestruzzi group for 14.2 million
euro and Italcementi S.p.A. for 8.1 million euro, as well as to North America for 2.6 million euro and Spain for
1.4 million euro; the item also includes the surplus of 3.3 million euro on the Calcestruzzi S.p.A. risk provision
for fines imposed by the Competition and Market Authority.
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