DHL 1999 Annual Report Download - page 129

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140
Other Notes
acquisition in an active market. From a comparison with
the respective carrying amounts, the following market
values result from the financial debts of the Deutsche
Post Group:
Market values varying from the carrying amounts are
the result of changed market interest for borrowings
providing for corresponding terms and risk structures.
For all other primary financial instruments, shorter
terms or market based valuations do not entail any sig-
nificant differences between reported carrying amounts
and market values.
(40) Contingent liabilities
Contingent liabilities are possible obligations that arise
from past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the
control of the enterprise. They may also be defined as
present obligations which probably do not lead to an
outflow of resources embodying economic benefits and
whose outflow of resources cannot be measured with
sufficient reliability.
The Group’s contingent liabilities include:
The value guarantees are guarantees of Deutsche
Postbank AG vis-à-vis investors in shares in funds.
The other contingent liabilities mainly comprise pos-
sible liabilities on bill commitments amounting to
EUR 105 million as well as warranty obligations and
other obligations, claims to which are not expected to
be made.
As compared to the contingent liabilities,the contingent
receivables amount to EUR 5 million (1998:EUR 0 mil-
lion).
In addition, as of the Group balance sheet date there
exist warranties amounting to EUR 1,571 million
(1998: EUR 13 million). This amount includes a
general warranty of Deutsche Postbank AG vis-à-vis
a credit institute securing an agreed building loan of
EUR 767 million. Further, Deutsche Post AG vouches
vis-à-vis the European Investment Bank for a loan of
EUR 755 million,taken out by Deutsche Post Interna-
tional B.V. and passed on to Deutsche Post AG.
Claims arising from these warranties are not expect-
ed to be made.
Amounts
ow ed
to banks
Bonds
Other
borrowings
1999
Carrying Market Differ-
amounts values ence
1998
Carrying Market Differ-
amounts values ence
952 896 – 56 928 922 – 6
9 9 0 0 0 0
788 788 0 910 951 42
1,749 1,693 –56 1,838 1,873 36
EUR mill.
Value guarantees
Contingent liabilities arising from
court and legal costs
Contingent liabilities arising from claims
to ownership by third parties
Other contingent liabilities
1999 1998
334 0
77 55
50 48
250 34
711 137
EUR mill.