DHL 1997 Annual Report Download - page 77

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reversal and application of accruals, gains on disposal of noncurrent
assets and rent received.
(3) Cost of materials: cost of merchandise consisted almost entirely of
the cost of phonecards sold. This caption also includes the cost of
office supplies, printed matter and consumables. Cost of purchased
services consisted principally of transportation, maintenance and
energy costs.
(4) Personnel expenses: pension expenses amounted to DM 5,476 (4,738)
million. This item includes DM 4,000 million of contributions to
Deutsche Post Pensions-Service e.V., which is the pension fund re-
sponsible under section 15(1) of the Postpersonalrechtsgesetz for the
payment of pensions and medical allowances to retired civil servants.
In 1997, this item also includes transfers to the first accruals for
indirect obligations to pensioners of the VAP (the Deutsche Bundes-
post’s Supplementary Pensions Institution) who retired on or after
January 1, 1991; these obligations had not previously been disclosed
in the balance sheet.
(5) Amortization and depreciation expense includes DM 173 (205)
million of nonsystematic charges.
(6) Other operating expenses consisted principally of transfers to various
accruals, rent, the cost of services provided by the Federal Post and
Telecommunications Institute and outside services.
(7) Financial income/expense consisted of:
(8) Extraordinary income/charges consisted of extraordinary income
from the sale of a participating interests (DM 876 million) and extra-
74
Notes to
the Financial
Statements
(Thousands of DM) 1997 1996
Income from participating interests 154,744 104,221
(of which from affiliated companies) (154,744) (103,387)
Income from loans carried as noncurrent assets 233,504 280,112
(of which from affiliated companies) (79,846) (112,957)
Other interest and similar income 65,204 39,954
(of which from affiliated companies) (4,083) (663)
Interest and similar expense 242,333 218,927
(of which paid to affiliated companies) (58,216) (36,841)
Financial income/expense, net 211,119 205,360