The net result of discontinued operations presented in the consolidated income statement for the year ending December 31, 2020 mainly relates to a fair value adjustment of the earn-out component as well as actual earn-out received related to the sale of the TaylorMade business. The increase in fair value is attributable to adjusted future EBITDA-value estimates. In 2020, adidas received a cash consideration of US $ 50 million. The fair value of the earn-out component at December 31, 2020 amounts to US $ 15 million (2019: US $ 50 million).