DHL 2001 Annual Report Download - page 121

Consolidated Financial Statements
Notes
121
21. Dividend per share
A dividend of €412 million is being proposed
for fiscal year 2001. Based on the 1,112,800,000
shares recorded in the commercial register, this
corresponds to a dividend per share of €0.37.
The dividend in the previous year amounted to
€300 million, for a dividend per share of €0.27.
Notes to the balance sheet
22. Intangible assets
Purchased intangible assets are carried at cost.
Internally generated intangible assets are carried
at cost if the criteria for recognition as an asset are
satisfied.This is the case in particular if future eco-
nomic benefits will probably flow from the assets.
In Deutsche Post World Net, these relate only to
internally developed software. In addition to direct
costs, the production cost of internally developed
software includes an appropriate share of attribut-
able production overheads.Any borrowing costs
are not included in production costs.Value added
tax arising in conjunction with the acquisition or
production of intangible assets is included in the
cost if it cannot be deducted as input tax.
Intangible assets are reduced by straight-line
amortization over their useful lives. Capitalized
software is amortized over two to six years, licenses
over the term of the license agreement.
Intangible assets are written down if there are
indications of impairment and if the recoverable
amount is lower than amortized cost. If the reasons
for the impairment losses charged no longer apply,
the write-downs are reversed.
Goodwill, including goodwill from capital con-
solidation, is capitalized in accordance with IAS 22
and reduced by straight-line amortization over a
useful life of 15 to 20 years. The useful life is deter-
mined in particular by the strategic importance to
the Group of the underlying acquisitions in terms
of synergies and the potential for developing new
markets. Goodwill is regularly tested for impairment.
Goodwill is written down if there are indications of
impairment.
The negative goodwill of Deutsche Postbank AG
is reversed over ten years. The reversal period is
governed by the time expected to be required for the
restructuring measures necessary at the Deutsche
Postbank group, as required by IAS 22.61. Income
from the reversal of negative goodwill is recog-
nized in the income statement under other operat-
ing income. The transitional provisions of IAS 22
(revised 1998) require reversal of negative goodwill
over the remaining average useful life of the acquired
identifiable non-monetary wasting assets of the
Deutsche Postbank group, but the reversal period
of 31 years calculated on this basis does not reflect
the nature and economic background of the nega-
tive goodwill from the Deutsche Postbank group.
Changes in intangible assets in fiscal year 2001
are presented below,based on the opening balances
in fiscal year 2000 (see table on page 122):