DHL 2000 Annual Report Download - page 108

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The remaining temporary differences between IAS bal-
ance sheet valuation and valuations in the tax balance
sheet as of December 31,2000 amount to approximately
€8.2 billion (1999:€11.9 bn).The reduction of these
differences mainly results from the conversion of direct
to indirect pension commitments with tax effect in the
financial year.
(19) M inority interest
In fiscal year 2000,minority interest income amounted
to €15 million (1999:€6 m) and the losses allocated
to minority interests amounted to €0 million (1999:
€1m).
(20) Earnings per share
In accordance with IAS 33 (Earnings per Share),basic
earnings per share are determined by dividing Deutsche
Post Group’s profit by the average number of shares.
The increase in the number of shares and the conver-
sion of the shares to no-par-value shares in 2000 in-
flated the number of shares to 1,112,800,000 no-par-
value shares.
In fiscal year 2000, the undiluted earnings per share
were €1.36.As a consequence of the restatements
referred to in notes 6 and 7,and taking the conversion
to no-par-value shares into account, earnings per share
were € 0.92 for fiscal year 1999.
In order to calculate the diluted earnings per share,the
average number of shares issued is adjusted for the
number of all potentially diluted shares.In connection
with the issue of shares on November 20,2000,option
rights were granted to employees;this led to a poten-
tial dilution of the earnings per share (cf.note 30).
Accordingly, in the reporting year there is no deviation
between diluted and undiluted earnings per share.
(21) Dividends per share
A dividend payment of €300 million has been pro-
posed for fiscal year 1999.Given a total of 1,112,800,000
shares registered in the Commercial Register this rep-
resents a dividend per share of €0.27.Based on a dif-
ferent number of shares (42,800,000) the distribution
in fiscal year 1999 amounted to €179 million, which
meant a dividend per share of €4.18.
Notes to the Balance Sheet
(22) Intangible assets
Purchased intangible assets are recognized at their
costs of acquisition.The cost of an internally generat-
ed intangible asset is the sum of expenditures incurred
from the date when the intangible asset first meets
recognition criteria.This will be the case particularly
when an intangible asset is expected to generate future
economic benefits.Within the Group,internally gen-
erated intangible assets relate solely to internally deve-
loped software.The capitalization costs of internally
developed software include,in addition to direct costs,
an appropriate proportion of the indirect manufac-
turing overhead attributable to the software. Borrow-
ing costs are not capitalized.Value added tax arising
from the acquisition or generation of intangible assets
is capitalized unless it can be deducted as input tax.
Intangible assets are amortized on a straight-line basis
over their estimated useful lives.Capitalized software
is amortized over two to five years.Licenses are amor-
tized in accordance with the term of the relevant license
agreement.
If there is any indication that an asset’s value may be
impaired or the recoverable amount is less than the
carrying amount, then the intangible asset is subject
to non-scheduled amortization. If reasons for the
non-scheduled amortization cease to exist, appropri-
ate write-ups are made.
100
2000
Average number of shares issued 1,112,800,000
Number of shares provided with subscription rights 7,683,494
Number of shares which would have been issued at
their fair value – 6,923,588
Average number of shares taking the dilution
effect into account 1,113,559,906
Group profit in € millions 1,512
Diluted earnings per share in€ € 1.36