ANNUAL REPORT 2011 - Kuehne + Nagel

23 Other operating income/expenses, net
CHF million 2011 2010
Gain on disposal of property, plant and equipment 12 30
Loss on disposal of property, plant and equipment –4 –4
Provision for competition investigations and associated legal expenses 1 – –5
Total 8 21
1 See also notes 41 and 45.
24 Financial income and expenses
CHF million 2011 2010
Interest income 10 4
Net change in fair value of financial investments, including derivative instruments 2 –
Exchange differences, net 8 2
Financial income 20 6
Interest expenses –8 –9
Financial expenses –8 –9
Net financial result 12 –3
25 Income tax
CHF million 2011 2010
Current tax expense
— in current year 173 185
— under/(over)-provided in previous years 1 1
Deferred tax expense from
174 186
— changes in temporary differences 4 –9
— impact of deferred tax assets not recognised previously –18 –15
–14 –24
Income tax 160 162
Income tax of CHF 1 million (2010: CHF –3 million) relating
to actuarial gains and losses of CHF 17 million before tax
Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes
(2010: CHF 18 million) arising from defined benefit plans is
recognised in other comprehensive income.
77