4.3.4Other Operating Income and Expense
|
2020 |
2019 |
||
|---|---|---|---|
|
Insurance claim income |
- |
5 |
|
|
Gains from sale of financial participations, property, plant and equipment |
(1) |
0 |
|
|
Other operating income |
5 |
2 |
|
|
Total other operating income |
4 |
7 |
|
|
Other operating expenses |
(1) |
(2) |
|
|
Impairment of other assets and onerous contracts |
(10) |
- |
|
|
Restructuring expenses |
(46) |
(0) |
|
|
Total other operating expense |
(57) |
(2) |
|
|
Total |
(53) |
5 |
Restructuring of the Company
In 2020, the Company incurred restructuring expenses. The Company took action to reorganize the allocation of activities in centers in order to become more efficient. Compared with year-end 2019, the reorganization lead to a reduction of approximately 600 positions. The related restructuring severance costs expense totaled US$46 million in 2020. As a result of the restructuring, the Company also impaired right-of-use assets on buildings and recognized an onerous provision for a total amount of US$10 million.
Acquisition of 75% equity ownership in OS Installer Limited
The Company acquired the remaining 75% equity ownership in OS Installer Limited for a consideration of US$34 million on September 30, 2020. The net impact between (i) the financial consideration paid to acquire the 75% share in OS Installer Limited, (ii) the recognition of the acquired assets and liabilities and (iii) the derecognition of lease liability and previously held investment, has been recognized in the line item ’Other operating income’ for US$3 million. Please refer to note 4.3.13 Property, Plant and Equipment.