The breakdown of other expenses is as follows:
Other expenses |
|
|
(€ thousand) |
2010 |
2009 |
|
|
|
Losses on exchange rate differences |
16,949 |
19,975 |
Impairment of non-current assets |
8,522 |
15,800 |
Book losses on disposal of property, plant and equipment |
5,966 |
3,065 |
Sundry other expenses |
14,442 |
27,597 |
Total other expenses |
45,879 |
66,437 |
Other expenses comprise expenses not reported under functional costs.
Losses on exchange rate differences include losses of €3,947 thousand on derivative financial instruments used to hedge exchange rate risk resulting from our operations (2009: €16,892 thousand). These losses on derivatives are offset by gains on the currency translation of the corresponding underlying transactions.
Impairment of non-current assets related to impairment losses of €8,464 thousand for intangible assets in 2010, while the impairment losses of €13,024 thousand recognised in 2009 were for property, plant and equipment during the relocation of production.
