Operating companies income of $1.2 billion increased by 11.2%, including favorable currency of $63 million. Excluding currency, operating companies income increased by 5.4%, mainly driven by favorable pricing, partly offset by unfavorable volume/mix of $68 million.
Adjusted operating companies income increased by 11.2%, as shown in the table below and detailed on Schedule 11. Adjusted operating companies income, excluding favorable currency, increased by 5.4%.
|EU Operating Companies Income ($ Millions)|
|Third-Quarter||Nine Months Year-to-Date|
|Asset impairment & exit costs||—||—||—||—|
|Adjusted OCI Margin*||52.9||%||51.1||%||1.8||p.p.||50.0||%||50.0||%||—||p.p.|
*Margins are calculated as adjusted OCI, divided by net revenues, excluding excise taxes.
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