DHL 1999 Annual Report Download - page 117

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Notes to the Consolidated Balance Sheet
(29) Reserves
The Group’s reserves include:
The revaluation surplus resulting from the revaluation
of real estate of the Group was released, as WohnBau
Rhein-Main AG, Frankfurt am Main, was sold, together
with its residential real estate. The net income affecting
reduction of retained earnings amounting to EUR 63
million is also the result of the sale of that company.The
main reason underlying this reduction is the elimina-
tion of Group loan accumulations not affecting net
income,whose basis no longer exists after the final con-
solidation of WohnBau Rhein-Main AG, Frankfurt am
Main.
All other 1998 reductions of retained earnings not af-
fecting net income amounting to EUR 108 million also
result to a great extent from eliminating loan accumula-
tions not affecting net income, whose basis ceased to
exist after the final consolidation of Deutsche Post
Wohnbau Köln GmbH and Deutsche Post Wohnbau
GmbH.
For an overview of reserves during the business year,see
the Consolidated Statement of Changes in Equity on
page 103.
(30) M inority interest
Minority interest represents the minority shareholders’
proportionate share in the equity of the consolidated
subsidiaries. This applies to a major extent to the Deut-
sche Postbank Group, the Danzas Group and Merkur
Direktwerbegesellschaft mbH.
(31) Retirement benefit and similar obligations
Starting with the opening figures for the 1998 financial
year – in the 1999 financial year, retirement benefit and
similar obligations developed as follows:
Deutsche Post AG alone provisions for pension obliga-
tions amounting to EUR 6,016 million. For most of the
Deutsche Post AG staff, post-retirement provisions are
made. Retirement benefit plans can be defined contri-
bution plans or defined benefit plans.
128
EUR mill.
January 1, 1998
Application
Reversal
Transfer
December 31, 1998
Change in the
consolidated
Group
Application
Reversal
Transfer
December 31, 1999
Pension
provisions Obligations
similar to
pension
Total
6,147 18 6,165
576 2 578
0 1 1
541 1 542
6,112 16 6,128
412 0 412
553 2 555
34 0 34
635 8 643
6,572 22 6,594
Capital reserve
Retained earnings
Revaluation surplus
1999 1998
376 376
70 – 921
0 291
446 – 254
EUR mill.