DHL 2002 Annual Report Download - page 121

Download and view the complete annual report

Please find page 121 of the 2002 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 161

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161

The Board of Management is proposing to utilize the
unappropriated surplus of Deutsche Post AG to distribute
a dividend of €0.40 per no-par value share (previous year:
€0.37). The amount of €961 million (previous year: €1,553
million) remaining after deduction of the total dividend of
€445 million (previous year: €412 million) will be transferred
to the retained earnings of Deutsche Post AG.
The dividend is tax-exempt for shareholders resident
in Germany. No capital gains tax (investment income tax)
will be withheld on the distribution.
Minority interest
Minority interest includes adjustments for the interests
of non-Group shareholders in the consolidated equity from
capital consolidation, as well as their interests in profit
and loss. The interests relate primarily to the following
companies:
36
36
Provisions for pensions and
other employee benefits
Pension arrangements for hourly workers
and salaried employees
Provisions for pensions and other employee benefits, which
relate solely to our hourly workers and salaried employees,
changed as follows in fiscal year 2002, based on the opening
balances of fiscal year 2001:
The maturity structure of pensions and other employee
benefits is presented below:
The provisions for pensions and other employee
benefits relate principally to the following companies:
37
in €m 2001 2002
Deutsche Postbank group 59 14
Guipuzcoana 0 83
Danzas group 10 12
Other companies 6 8
75 117
Minority interest
Provisions for pensions and other employee benefits
in €m
Pension Provisions Total
provisions for other
employee
benefits
Opening balance at Jan. 1, 2001 6,669 51 6,720
Changes in consolidated group 6 1 7
Utilization 513 7 520
Currency translation differences -2 1 -1
Addition 421 0 421
Closing balance at Dec. 31, 2001 6,581 46 6,627
Changes in consolidated group 33 0 33
Utilization 769 0 769
Reversal 3 0 3
Currency translation differences -2 0 -2
Addition 356 50 406
Closing balance at Dec. 31, 2002 6,196 96 6,292
Maturities
in €m Pension provisions Provisions for other Total
employee benefits
2001 2002 2001 2002 2001 2002
Less than 1 year 602 586 12 18 614 604
1 to 5 years 1,659 1,605 17 34 1,676 1,639
More than 5 years 4,320 4,005 17 44 4,337 4,049
6,581 6,196 46 96 6,627 6,292
in €m 2001 2002
Deutsche Post AG 5,957 5,519
Deutsche Postbank group 552 563
Danzas group 98 120
DHL International 0 43
Other Group companies 20 47
6,627 6,292
Allocation of pension provisions to companies