DHL 2000 Annual Report Download - page 99

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91
Notes
• In accordance with IAS 22 (revised 1993), restruc-
turing provisions were set up for the logistics com-
panies ASG and Nedlloyd that were acquired in the
second half of 1999;these provisions did not affect
the operating results.IAS 22 (revised 1998) placed
stricter criteria on the recognition of restructuring
provisions. Since the provisions set up at Nedlloyd
to the amount of €82 million failed to satisfy those
requirements, restructuring provisions were retro-
spectively restated as expense in the income state-
ment.In accordance with the transitional provisions,
the consolidated financial statements for 1999 were
appropriately restated.As a result,other operating
expenses increased by €82 million in the second
half of 1999,whilst amortization of goodwill was si-
multaneously reduced by €2 million.Furthermore,
the goodwill recorded in the balance sheet as of De-
cember 31,1999 was reduced by €80 million as a
result of such adjustment. The adjusted provisions
to the amount of €31 million were fully utilized in
2000.
The audited consolidated income statement, the con-
solidated balance sheet, the cash flow statement and
the statement of changes in equity for the year ending
December 31,1999 were restated according to IAS 22
(revised 1998).
(7) Restatement of previous year’s figures
In addition to the restatements of the previous year’s
figures stated under note 6 as a result of the first-time
application of new or revised standards,further restate-
ments had to be made in accordance with IAS 22.71.
• Due to subsequently identified obligations, provi-
sions amounting to €8 million were set up for the
logistics companies ASG, Nedlloyd and Danzas.
These provisions did not affect the operating results.
Most of these provisions relate to rights of recourse.
As a result, acquisition-related goodwill increased
by the same amount net of scheduled amortization.
• In accordance with IAS 22.7,some values of proper-
ty, plant and equipment of Deutsche Postbank group
had to be restated retrospectively in the opening
balance sheet.As a consequence of this,the carrying
amount of the negative difference changed by €92
million as of December 31,1999.Other operating
income from the release of the negative goodwill was
reduced by 10 million.
• In accordance with SIC 12,23 Special Purpose Funds
of Deutsche Postbank AG were included as Special
Purpose Entities in the consolidated financial state-
ments for the first time.The proportion of hidden
reserves attributable to the Special Purpose Funds
and the respective deferred taxes were set off against
retained earnings reserves to the amount of €181
million with a neutral effect on profits as of January 1,
2000.A respective adjustment of the previous year’s
figures would have increased the profit from operat-
ing activities by €324 million or,respectively,the net
profit for the period by €181 million.
• The disclosure of the following balance sheet items
was changed: Liabilities from finance leasing were
reclassified from other liabilities to borrowings and
the compensation claim pursuant to § 40 DMBilG
was reclassified from receivables from financial ser-
vices to other assets.The previous year’s figures were
adjusted accordingly.