[10] Other expenses
Other expenses break down as follows:
in € million |
2022 |
2021 |
|---|---|---|
Foreign currency exchange rate losses |
95.9 |
66.6 |
Impairment of non-current assets |
20.2 |
2.3 |
Sundry expenses |
14.8 |
12.5 |
Total other expenses |
130.9 |
81.4 |
In 2022, other expenses went up by €49.5 million year on year to reach €130.9 million.
The rise in other expenses was predominantly due to the increase in foreign currency exchange rate losses. These are attributable to exchange rate losses arising in the course of the Group companies’ operating activities and to losses on hedges that were entered into in order to hedge currency risk arising from the operating business and are not part of a formally documented hedge (details of the countervailing other income from foreign currency exchange rate gains can be found in note [9]).
Of the impairment losses recognized on non-current assets in 2022, €15.1 million essentially related to assets of the Russian subsidiaries in the Industrial Trucks & Services segment that are to be sold. Further information can be found in note [27].