DHL 2014 Annual Report Download - page 148

Disposal and deconsolidation effects in 
 m Cargus
International
 Fashion
(France)  Group Exel Direct  Express  Total1 January to 31 December
Non-current assets 6 0 14 6 1 27
Current assets 3 12 30 14 0 59
Cash and cash equivalents 2 23 4 1 0 30
 11 35 48 21 1 116
Current provisions and liabilities 4 12 38 10 0 64
   4 12 38 10 0 64
Net assets 7 23 10 11 1 52
Total consideration received 19 0 18 24 1 62
Losses from the currency translation reserve 0 0 0 –2 0–2
Deconsolidation gain (+) / loss (–) 12 –23 8 11 0 8
 
e sale of the Romanian domestic express business of Cargus
Inter national . . . was completed in the rst quarter of . e
assets and liabilities had previously been reclassied as assets held
for sale and liabilities associated with assets held for sale in accord-
ance with  . e most recent measurement of the assets prior
to their reclassication did not indicate any impairment.
e sale of the Domestic Same Day business of  Express 
Limited, , closed at the end of October . e relevant assets
and liabilities had previously been reclassied as assets held for sale
and liabilities associated with assets held for sale in accordance with
 . e most recent measurement of the assets and liabilities
prior to their reclassication did not indicate any impairment.
  
Deutsche Post  Group completed the sale of the fashion logis-
tics business of  Fashion (France) , France, in April .
e most recent measurement of the assets and liabilities prior to
their reclassication as assets held for sale and liabilities associated
with assets held for sale resulted in an impairment loss of  mil-
lion in , which was reported in depreciation, amortisation and
impairment losses.
In addition,  GmbH Internationale Spedition und Logistik,
Germany, was sold together with its subsidiaries in June . e
companies’ assets and liabilities were reclassied as assets held for
sale and liabilities associated with assets held for sale in accordance
with  . e most recent measurement of the assets prior to
their reclassication did not indicate any impairment.
e sale of  company Exel Direct Inc. including its Can-
adian branch was completed in May . e most recent meas-
urement of the assets prior to their reclassication did not indicate
any impairment.
 warehousing specialist Llano Logistics Inc. was sold and
deconsolidated in May . Since all of the amounts involved
were lower than  million, they are not shown in the table.
. Joint operations
Joint operations are consolidated in accordance with  , based
on the interest held.
A signicant joint operation is Aerologic GmbH (Aerologic),
Germany, a cargo airline domiciled in Leipzig. e company has
been allocated to the Express segment. It was jointly established by
Deutsche Luhansa  and Deutsche Post Beteiligungen Holding
GmbH, which each hold   of its capital and voting rights.
Aerologic’s shareholders are simultaneously its customers, giving
them access to its freight aircra capacity. Aerologic serves the
 Express network exclusively from Monday to Friday, whilst
it ies for the Luhansa Cargo network at weekends. In contrast
to its capital and voting rights, the company’s assets and liabilities,
as well as its income and expenses, are allocated based on this user
relationship.
 Significant transactions
Capital increases
Deutsche Post  increased its capital in March and Decem-
ber  by issuing new shares and performing a share buy-back;
Note .
ere were no other signicant transactions to report.
 Adjustment of prior-period amounts
As the amended   and   came into force on  Jan-
uary  and were applied retrospectively, the prior-period
amounts of the relevant balance sheet and income statement items
were adjusted accordingly. During this transition process, further
insignicant adjustments were made to the inclusion method and
the equity interest included.
e investments in associates balance sheet item was re-
named investments accounted for using the equity method as it
now also includes the joint ventures to be accounted for using the
equity method. Accordingly, the net income from associates item
in the income statement was changed to net income from invest-
ments accounted for using the equity method.
Deutsche Post  Group —  Annual Report
142