DHL 1997 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 1997 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 89

  • 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

affiliated companies and DM 25 (189) million of loans to companies
in which participating interests are held.
(5) All receivables and other assets, except for items totaling DM 1.6 (–)
million, mature in less than one year from the balance sheet date.
Receivables from affiliated companies include DM 70.2 (7.9) million
of receivables for goods and services. Receivables from companies
in which participating interest are held include DM 0 (0) thousand
of receivables for goods and services. The remaining receivables
consist principally of amounts owed by Deutsche Post Pensions-
Service e.V., employees and fiscal authorities.
(6) Prepaid expenses and deferred charges include DM 7.7 (10.3) million
of unamortized debt discount which is being written off over the
term of the debt.
(7) Pursuant to a resolution of the shareholders of Deutsche Post AG
passed at the general meeting of July 10, 1997, the subscribed capital
was increased by DM 140 million to DM 2,140 million; the consid-
eration received by Deutsche Post AG for the new shares consisted
in a claim against the Federal Republic of Germany for the transfer
of Postbank shares. After this increase the subscribed capital was
represented by 42,800,000 bearer shares of DM 50 each.
(8) The change in capital reserve is the result of an addition of DM 735
million and a transfer to the statement of income of DM 1,104 million.
The capital reserve at the balance sheet date consists of amounts
taken to the reserve under section 272(2) no. 1 of the Commercial Code
(proceeds from the issuance of shares, including rights, in excess of
nominal value).
(9) The unappropriated retained earnings of DM 103 million include
the loss of DM 617 million brought forward from 1996 and the
transfer of DM 1,104 million from the capital reserve.
(10) Pension accruals represent obligations to serving and retired man-
agement staff and employees subject to collective bargaining agree-
ments. The accruals for similar obligations were set up for retro-
spective contributions.
71