DHL 1998 Annual Report Download - page 79

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75
The continuing obligations of Deutsche Post AG to pay contributions
to Deutsche Post Pensions-Service e.V. are limited by section 16 of the
Postpersonalgesetz to annual mounts of DM 4.0 thousand million up to
and including 1999, and thereafter to 33 per cent of the gross emoluments
of serving civil servants and those granted leave of absence.
(10) Accruals for taxation were set up principally for corporation tax, real
property tax, turnover tax and wage tax.
(11) Other accruals consist principally of amounts accrued for the expected
shortfall between the sources of regular income of the Postal Civil Servants’
Health Insurance Fund and the benefits paid, unperformed services relat-
ing to the sale of postage stamps, the letter mail and other reorganization
concepts and miscellaneous personnel expenses.
(12) The protions of liabilities falling due in less than one year or more than five
years from the balance sheet date are shown in the schedule forming
Appendix 2 to these notes.
(13) Other payables include the loan from Deutsche Telekom AG under section 2
(2) of the Postal Transformation Act, as well as employee wages, salaries and
emoluments for civil servants and loans granted to Deutsche Post Betriebs-
renten-Service.
(14) Under section 119 of the Sixth Book of the Code of Social Law, Deutsche
Post AG acts as paying agency for social insurance authorities. Under the
Ordinance Regulating the Postal Pension Payments Service, Deutsche Post
AG’s status relative to the funds entrusted to it for this prupose is that of
a trustee. This trusteeship is not disclosed in the group balance sheet. On
31 December 1998, the assets held in trust by Deutsche Post AG in this
activity amounted to DM 96 (210) million.
(15) The assets held in trust by Deutsche Post AG in its function as administrator
of housing promotion loans amounted to DM 1,322 (593) million on
31 December 1998.
(16) Contingent liabilitiy guarantees amounted at the group balance sheet date
to DM 25 (24) million.
(17) On 31 December 1998, other financial commitments amounted to DM
1,881 (1,802) milion. They consisted principally of future payments under
long-term haulage contracts and lease agreements and purchase contracts
for noncurrent assets.
B. Notes to the Group Profit and Loss Account
(1) Net revenue in 1998 consisted of
1998 1997
Deutsche Post AG 27,685 27,043
Housing 195 258
Other 809 339
Net revenue total 28,689 27,640
(millions of DM)