DHL 2001 Annual Report Download - page 119

Consolidated Financial Statements
Notes
119
16. Net income from associates
Investments in companies on which significant con-
trol can be exercised and which are consolidated at
equity contributed to net finance costs as follows:
The amounts presented for fiscal year 2001
were calculated from annual financial statements
that have not yet been adopted. Net income from
DHLI and trans-o-flex Schnell-Lieferdienst GmbH
(trans-o-flex) is composed as follows:
17. Net other finance costs
The structure of net other finance costs is as follows:
Revenue and expenses from the Deutsche
Postbank group’s banking transactions are not car-
ried under net other finance costs.Revenue – in par-
ticular in the form of interest income, income from
shares and investment securities and commission
income – is carried under revenue and income from
banking transactions (see note 9), while expenses –
in particular interest and commission expenses –
are carried under materials expense and expenses
from banking transactions (see note 11).
The increase in other investment income is due
primarily to profit transferred by an associate result-
ing from the sale of real estate.
18. Income tax expense
The income tax expense is composed as follows:
The €49 million increase in income taxes results
primarily from the increase in the current tax expense
by €44 million.
In accordance with IAS 12 (Income Taxes),
deferred tax assets and liabilities are calculated by
using the tax rates expected to be enacted when the
items reverse.
The tax rate of 39.9% applied to German Group
companies comprises the standard tax rate of 25%
plus the solidarity surcharge, as well as an average
trade tax rate. Foreign Group companies use their
individual income tax rate to calculate deferred tax
items. The income tax rates applied for foreign com-
panies range from 15 to 48%.
2000
Investments consolidated at equity
DHL International Limited -140 7
trans-o-flex Schnell-Lieferdienst GmbH -2 -8
Other Group companies 12 7
-130 6
2001
in €m
trans-o-flex
Net income from DHLI/trans-o-flex
Current year goodwill amortization -43 -1
Proportionate interest in current year
net profit or loss -97 -1
-140 -2
DHLI
in €m
2000
Income tax expense
Current income tax expense 84 41
Current recoverable income tax 0 -1
84 40
Deferred tax income (previous year: deferred tax
expense) from temporary differences -64 1
Deferred tax expense from the reduction in
deferred tax assets on tax loss carryforwards 540 470
476 471
560 511
2001
in €m
2000
Net other finance costs
Interest and similar expenses -193 -261
Interest and similar income 44 81
Write-downs on current financial instruments -6 -31
Income from noncurrent financial instruments
and long-term loans 5 7
Income from other investments 51 1
-99 -203
2001
in €m