DHL 2001 Annual Report Download - page 111

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Consolidated Financial Statements
Notes
111
As a rule, joint ventures are proportionately
consolidated in accordance with IAS 31: assets and
liabilities, and income and expenses,of jointly con-
trolled companies in proportion to the interest in
these companies. Proportionate capital consolida-
tion and recognition and measurement of goodwill
use the same methods as applied to the consolida-
tion of subsidiaries.
Companies on which the parent has a significant
influence (associates) are carried at equity using the
purchase method.Any goodwill is reported under
investments in associates.
Intragroup revenue, other operating income
and expenses, as well as receivables, liabilities and
provisions, are eliminated. Intercompany profits
or losses from intragroup deliveries and services
not realized by sale to third parties are eliminated.
6. Application of IASs and SIC interpretations
The consolidated financial statements of
Deutsche Post AG are based on the IASs and SIC
interpretations required to be applied at the date
of their preparation.
IAS 39 (Financial Instruments: Recognition
and Measurement) was applied for the first time in
Deutsche Post’s 2001 consolidated financial state-
ments.
IAS 39 governs the recognition and measure-
ment of financial instruments,which include both
primary financial instruments and derivatives.
All financial instruments must be recognized on
the balance sheet.All financial instruments were
reclassified and measured at the date of first-time
application in accordance with the standards set
out in IAS 39.
Currency
2000
€1=
2000
€1=
2001
€1=
Country Currency
2001
€1=
Closing rates Average rates
USA USD 0.88130 0.93050 0.89347 0.92406
Germany DEM 1.95583 1.95583 1.95583 1.95583
Australia AUD 1.72800 1.67700 1.73266 *
Switzerland CHF 1.48290 1.52320 1.51038 1.55777
United Kingdom GBP 0.60850 0.62410 0.62054 0.60941
Sweden SEK 9.30120 8.83130 9.26121 8.44608
Poland PLZ 3.49530 3.84980 3.66244 4.00808
Czech Republic CZK 31.96200 35.04700 34.04237 35.66721
Denmark DKK 7.43650 7.46310 7.45169 *
Austria ATS 13.76030 13.76030 13.76030 13.76030
Belgium BEF 40.33990 40.33990 40.33990 40.33990
France FRF 6.559570 6.55957 6.55957 6.55957
Ireland IEP 0.78756 0.78756 0.78756 0.78756
Italy ITL 1,936.27000 1,936.27000 1,936.27000 1,936.27000
Netherlands NLG 2.20371 2.20371 2.20371 2.20371
Hungary HUF 245.18000 265.00000 256.24532 *
Portugal PTE 200.48200 200.48200 200.48200 200.48200
Spain ESP 166.38600 166.38600 166.38600 166.38600
*No amounts given as not relevant at December 31, 2000.