The spin-off of parts of the former Powertrain segment has resulted in the application of IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. These parts make up most of the discontinued operations.
The items in the consolidated statement of income show the figures for continuing operations in the reporting and comparative periods. Net income comprises earnings after tax from continuing operations and discontinued operations.
| € millions | See Note | 2021 | 2020 |
| Sales | 7 | 33,765.2 | 31,864.4 |
| Cost of sales | -26,024.9 | -24,370.6 | |
| Gross margin on sales | 7,740.3 | 7,493.8 | |
| Research and development expenses | 8 | -3,530.4 | -3,352.8 |
| Selling and logistics expenses | -2,391.7 | -2,264.8 | |
| Administrative expenses | -1,004.9 | -960.1 | |
| Other income | 9 | 2,099.8 | 1,321.9 |
| Other expenses | 9 | -1,122.5 | -2,597.1 |
| Income from equity-accounted investees | 11 | 54.8 | -69.5 |
| Other income from investments | 11 | 0.4 | 0.6 |
| EBIT | 1,845.8 | -428.0 | |
| Interest income1 | 12 | 102.7 | 90.7 |
| Interest expense1 | 12 | -180.4 | -264.2 |
| Effects from currency translation | 12 | -128.1 | -86.0 |
| Effects from changes in the fair value of derivative instruments, and other valuation effects | 12 | 69.5 | 71.6 |
| Financial result | 12 | -136.3 | -187.9 |
| Earnings before tax from continuing operations | 1,709.5 | -615.9 | |
| Income tax expense | 13 | -359.5 | 50.3 |
| Earnings after tax from continuing operations | 1,350.0 | -565.6 | |
| Earnings after tax from discontinued operations | 6 | 156.9 | -353.2 |
| Net income | 1,506.9 | -918.8 | |
| Non-controlling interests | -51.9 | -43.1 | |
| Net income attributable to the shareholders of the parent | 1,455.0 | -961.9 | |
| Earnings per share (in €) relating to | |||
| Basic earnings per share from continuing operations | 40 | 6.49 | -3.02 |
| Consolidated basic earnings per share | 40 | 7.28 | -4.81 |
| Diluted earnings per share from continuing operations | 40 | 6.49 | -3.02 |
| Consolidated diluted earnings per share | 40 | 7.28 | -4.81 |
1 As of fiscal 2021, expected income from long-term employee benefits and from pension funds and interest expense from long-term employee benefits are reported net under interest expense.
