DHL 2015 Annual Report Download - page 203

Deutsche Post  Group —  Annual Report
Unobservable inputs (Level )
 m 2014 2015
Assets Liabilities Assets Liabilities
Equity
instruments
Debt
instruments
Derivatives,
of which equity derivatives
Equity
instruments
Debt
instruments
Derivatives,
of which equity derivatives
At  January 93 0 2 132 0 1
Gains and losses
( recognisedinprofit and loss) 1 0 0 –1 0 0 –1
Gains and losses
( recognisedin) 2 45 0 0 38 0 0
Additions 0 0 0 0 0 0
Disposals –14 0 0 – 95 0 0
Currency translation effects 8 0 0 8 0 0
At  December 132 0 1 83 0 0
1 Fair value losses are presented in finance costs, fair value gains in financial income.
2 Unrealised gains and losses were recognised in the   revaluation reserve.
e net gains and losses on nancial instruments classied in ac-
cordance with the individual   measurement categories are as
follows:
Net gains and losses by measurement category
 m
2014 2015
Loans and receivables –114 –136
Available-for-sale financial assets
Net gains recognised in  0 54
Net gains reclassified to profit or loss 0 172
Net losses recognised in profit or loss 0 –10
Financial assets and liabilities at fair value
throughprofit or loss
Trading 0 0
Fair value option 0 0
Other financial liabilities 1 0
e net gains and losses mainly include the eects of the fair value
measurement, impairment and disposals (disposal gains / losses) of
nancial instruments. Dividends and interest are not taken into
account for the nancial instruments measured at fair value through
prot or loss. Income and expenses from interest and commission
agreements of the nancial instruments not measured at fair value
through prot or loss are explained in the income statement disclos-
ures.
Financial assets and liabilities are set o on the basis of netting
agreements (master netting arrangements) only if an enforceable
right of set-o exists and settlement on a net basis is intended as at
the reporting date.
If the right of set-o is not enforceable in the normal course of
business, the nancial assets and liabilities are recognised in the
balance sheet at their gross amounts as at the reporting date. e
master netting arrangement creates a conditional right of set-o
that can only be enforced by taking legal action.
To hedge cash ow and fair value risks, Deutsche Post 
enters into nancial derivative transactions with a large number of
nancial services institutions. ese contracts are subject to a stand-
ardised master agreement for nancial derivative transactions. is
agreement provides for a conditional right of set-o, resulting in
the recognition of the gross amount of the nancial derivative trans-
actions at the reporting date. e conditional right of set-o is pre-
sented in the table.
Settlement processes arising from services related to postal
deliveries are subject to the Universal Postal Convention and the
 Agreement. ese agreements, particularly the settlement
conditions, are binding on all public postal operators for the spe-
cied contractual arrangements. Imports and exports between the
parties to the agreement during a calendar year are summarised in
an annual statement of account and presented on a net basis in the
nal annual statement. Receivables and payables covered by the
Universal Postal Convention and the  Agreement are pre-
sented on a net basis at the reporting date. e tables show the re-
ceivables and payables before and aer osetting.
e following tables show the impact of netting agreements
based on master netting arrangements or similar agreements on
nancial assets and nancial liabilities as at the reporting date:
193
Consolidated Financial Statements — NOTES — Other disclosures