DHL 2001 Annual Report Download - page 123
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Consolidated Financial Statements
Notes
123
Depreciation is generally charged using the
straight-line method. Deutsche Post World Net
applies the following useful lives:
Items of property, plant and equipment are
written down if there are indications of impairment
and if the recoverable amount is lower than amor-
tized cost. If the reasons for the impairment losses
charged no longer apply, the write-downs are
reversed.
Advance payments relate only to advance pay-
ments on items of property, plant and equipment
where Deutsche Post World Net has paid advances
in connection with uncompleted transactions.
Assets under development relate to capitalized items
of property, plant and equipment in progress for
whose production internal or third-party costs have
already been incurred.
There are restraints on the disposal of items
of property, plant and equipment in the amount of
€10 million (previous year: €1 million). Items of
property, plant and equipment pledged as collateral
have a total carrying amount of €5 million. Purchase
commitments of €56 million were entered into for
items of property, plant and equipment.
In accordance with IAS 17, beneficial ownership
of leased assets is transferred to the lessee if the lessee
bears substantially all the risk and rewards incident
to ownership of the asset.Where Deutsche Post
World Net is the beneficial owner, the asset is capi-
talized at the date of inception of the lease at either
the fair value or at the present value of the minimum
lease payments if this is less than the fair value.
Depreciation methods and useful lives correspond
to those of comparable purchased assets. The fol-
lowing table presents an overview of leased assets
where the Group is the beneficial owner:
Years
Useful lives
Buildings 6 – 80
Technical equipment and machinery 3 – 13
Passenger vehicles 3 – 8
Trucks 3 – 8
Other vehicles 4 – 10
IT systems 3 – 10
Other operating and office equipment 4 – 10
Leased assets
Carrying amount of leased assets 57 3 25 85
Minimum lease payments due
Less than one year 91 919
One to five years 23 1 16 40
More than five years 30 0 0 30
Total 62 2 25 89
Land,
land rights
and
buildings
in €m Technical
equipment
and
machinery
Operating
and office
equipment
Total