DHL 1999 Annual Report Download - page 109
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120
Notes to the Consolidated Balance Sheet
(21) Property, plant and equipment
With the exception of real estate, all property, plant and
equipment is valued at acquisition or manufacturing
costs, less scheduled depreciation on a straight-line basis
(in line with IAS 16: Property, Plant and Equipment).
Manufacturing costs cover single-item costs as well as
appropriate proportions of attributable overhead expen-
ses.Debt financing costs are not recognized under acqui-
sition and manufacturing costs, but directly as expenses.
Turnover tax arising in connection with the acquisition
or manufacturing of property, plant and equipment is
recognized under acquisition and manufacturing costs to
the extent that it cannot be deducted as prior tax.
Within the entire Deutsche Post Group, scheduled
depreciation, generally following the straight-line
method, is based on the following useful lives:
If there is an indication that an asset may be impaired
and the recoverable amount is below the carrying
amount, property, plant and equipment is subject to
special depreciation. If reasons for special depreciation
cease to exist, the appropriate write-ups are performed.
Unlike other property, plant and equipment, real estate
is carried at a revalued amount (IAS 16.30 ff.). Revalua-
tion of real estate is oriented to the capital gains that can
be achieved on the market. Revaluation also takes into
consideration findings from market research and analy-
ses, as well as previous sales negotiations and already
completed sales of comparable objects.
If the carrying amount of the real estate rises as a result
of a revaluation,the amount by which the acquisition or
manufacturing costs of the real estate less scheduled
depreciation are exceeded is not recognized in the
Income Statement. Revaluation surplus is included in
equity to the amount exceeding the net carrying
amount.If the carrying amount decreases as a result of a
revaluation, the decrease is recognized as an expense to
the extent that the decrease cannot be charged directly
against any related revaluation surplus. If the revalua-
tion surplus is realised by the sale of real estate,a trans-
fer from revaluation surplus is made to retained earn-
ings, in accordance with IAS 16. Thus the Group profit
does not include non-recurring gains on disposals.
In previous years the revaluation method was applied to
value this part of property, plant and equipment at its
fair market value, with a view to the envisaged sale of
the real estate. Meanwhile, with the sale of WohnBau
Rhein-Main AG effected in the period under review,
major parts of the Group’s real estate holding have been
disposed of. Therefore, today the revaluation method is
only of minor importance to the Group’s accounting.
Buildings
Technical equipment and machinery
Passenger cars
Heavy goods vehicles
Other motor vehicles
IT systems
Other furniture & fixtures
and office equipment
10 to 80 years
4 to 10 years
3 to 5 years
4 to 7 years
4 to 8 years
3 to 5 years
4 to 10 years