DHL 2012 Annual Report Download - page 182

e change in the hedging reserve is mainly the result of
the recognition of previously unrealised gains and losses from
hedging future operating currency transactions. In the nancial
year, unrealised losses totalling  million and unrealised gains
totalling  million from the hedging reserve were recognised in
operating prot under other operating expenses (previous year:
unrealised losses of  million and unrealised gains of  mil-
lion were recognised in operating prot). ere were no disposals
in net nance costs in nancial year , as in the previous year.
Furthermore, there were adjusting entries (basis adjustments) in
the amount of  million (previous year:  million) for hedging
transactions related to the acquisition of non-current non-
nancial assets. Deferred taxes have been recognised in respect of
the hedging reserve.
.   revaluation reserve
 m
2011 2012
As at  January 6 5
Changes recognised in other comprehensive income –1 –2
  revaluation reserve as at  December 5 3
e   revaluation reserve includes the hidden reserves of
 Logistics Co. Ltd., China, from purchase price allocation. ese
are attributable to the customer relationships contained in the  
interest previously held and to adjustments to deferred taxes.
. Currency translation reserve
e currency translation reserve includes the translation
gains and losses from the consolidation of the subsidiaries report-
ing in foreign currency.
 m
2011 2012
As at  January – 682 – 517
Transactions with non-controlling interests 0–2
Comprehensive income
Changes from unrealised gains and losses 191 9
Changes from realised gains and losses –26 47
Currency translation reserve as at  December – 517 – 463
 Retained earnings
As well as the undistributed consolidated prots generated in
prior periods, retained earnings also contain the eects from trans-
actions with non-controlling interests. Changes in the reserves
during the nancial year are also presented in the statement of
changes in equity.
 m
2011 2012
As at  January 7,767 8,086
Dividend payment –786 – 846
Consolidated net profit for the period 1,163 1,658
Transactions with non-controlling interests –59 58
Miscellaneous other changes 1 0
Retained earnings as at  December 8,086 8,956
e transactions with non-controlling interests primarily
include the sale in November  of .  of the shares in Blue
Dart Express Limited, India, in which the previous interest was
. , and the acquisition of the remaining   interest in 
Logistics Private Limited (formerly  Lemuir Logistics Private
Limited), India. e purchase price was paid and the shares were
transferred at the beginning of April .
Retained earnings include the reserve for treasury shares,
which changed as follows:
 m
2011 2012
As at  January –1 –1
Treasury shares acquired –20 –24
Treasury shares issued 20 22
Reserve for treasury shares as at  December –1 –3
Changes in treasury shares are presented in the statement of
changes in equity.
 Equity attributable to Deutsche Post  shareholders
e equity attributable to Deutsche Post  shareholders in
nancial year  amounted to , million (previous year:
, million).
Dividends
Dividends paid to the shareholders of Deutsche Post 
are based on the net retained prot of , million reported in
Deutsche Post ’s annual nancial statements in accordance with
the Handelsgesetzbuch ( – German Commercial Code). e
amount of  million remaining aer deduction of the planned
total dividend of  million (which corresponds to . per
share) will be carried forward.
Total dividend
 m
Dividend
per share

Dividend distributed in financial year 
for the year  846 0.70
Dividend distributed in financial year 
for the year  786 0.65
e dividend is tax-exempt for shareholders resident in Ger-
many. No capital gains tax (investment income tax) will be with-
held on the distribution.
Deutsche Post DHL Annual Report 
178