DHL 1999 Annual Report Download - page 113
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124
(23) Inventories
Inventories include the following:
Work in progress and finished goods are stated at cost
or moving average prices or using the LIFO method.
These inventories are not stated net of valuation allow-
ances.
Raw material and consumables used include postage
stamps not yet issued, heating fuel and spare parts for
the freight mail centers. They are stated at fixed values.
All other raw material and consumables used are recog-
nized at the lower of average (moving or weighted) or
year-end prices.
(24) Trade and other receivables
Trade and other receivables are recognized at their
nominal values net of appropriate individual valuation
allowances.Trade and other receivables include:
Of the receivables and prepaid expenses,EUR 0 million
(1998: EUR 0 million) and of the other assets, EUR 6
million (1998:EUR 4 million) fall due in more than one
year.
(25) Receivables and securities from financial
services
Receivables and securities from financial services result
exclusively from Deutsche Postbank Group operations.
In accordance with IAS 30 (Disclosure in the Financial
Statements of Banks and Similar Financial Institutions),
securities include trading assets and financial assets.
Carrying amount and valuation of these assets are in
line with IAS 25 (Accounting for Investments).
Finished goods
Raw material and
consumables used
Work in progress
1999 1998
64 49
48 42
8 23
120 114
EUR mill.
Trade receivables
Receivables from affiliated companies
Receivables from
participating companies
Receivables from
Deutsche Post Pensions-Service e.V.
Prepaid expenses
Other assets
1999 1998
1,845 471
62 43
48 48
13 2,026
395 194
2,887 773
5,250 3,555
EUR mill.
Notes to the Consolidated Balance Sheet