11. Other Operating Income in millions of Swiss francs 2021 2020 Gains on disposal of fixed assets 4 4 Other income 31 41 Total other operating income 35 45 12. Other Operating Expense in millions of Swiss francs 2021 2020 Project related expenses 13 15 Amortisation of intangible assets 14 16 Impairment of long-lived assets 3 13 Loss on divestment – 8 Losses on disposal of fixed assets 6 2 Environmental provisions 1 1 Business taxes 19 20 Acquisition and integration related expenses 12 25 Other expenses 13 9 Total other operating expense 81 109 As part of the manufacturing footprint optimisation program, the Group restructured some of its operations and as a consequence recorded impairment charges of CHF 3 million (2020: CHF 13 million). During 2020 the Group continued to review its business portfolio and divested a small part of its business, which resulted in a loss on divestment of CHF 8 million. 13. Expenses by Nature in millions of Swiss francs Note 2021 2020 Raw materials and consumables used 2,735 2,668 Total employee remuneration 8 1,596 1,493 Depreciation, amortisation and impairment charges 21, 22 393 401 Transportation expenses 11 17 Freight expenses 178 153 Consulting and service expenses 129 126 Energies 76 73 IT related costs 70 71 Other expenses 407 324 Total operating expenses by nature 5,595 5,326 14. Financing Costs in millions of Swiss francs Note 2021 2020 Interest expense 86 80 Net interest related to defined benefit pension plans 8 5 6 Derivative interest (gains) losses (2) Amortisation of debt discounts 3 2 Total financing costs 94 86 15. Other Financial (Income) Expense, Net in millions of Swiss francs 2021 2020 Fair value and realised (gains) losses from derivatives instruments, net (at fair value through income statement) 67 (37) Exchange (gains) losses, net (43) 52 Unrealised (gains) losses from financial instruments measured at fair value through income statement (8) (4) Interest (income) (8) (3) Capital taxes and other non-business taxes 10 10 Other (income) expense, net 12 16 Total other financial (income) expense, net 30 34 Governance Report Compensation Report Consolidated Financial Report Statutory Financial Report Appendix 78 Givaudan — 2021 Governance, Compensation and Financial Report Notes to the consolidated financial statements