DHL 2001 Annual Report Download - page 143

40. Other liabilities
Other liabilities are classified as follows:
The reduction in deferred income is due to the
application of IAS 39. Interest, premiums and dis-
counts are no longer carried as deferred income (as
in the previous year), but are reported together with
the corresponding balance sheet items. Deferred
income contains investment grants of €168 million.
Miscellaneous other liabilities relate primarily
to the following items:
Other liabilities are carried at their notional
amounts.
The hybrid capital consists of subordinated
liabilities, profit sharing rights outstanding and
assets contributed by typical silent partners and is
in accordance with section 10 (4, 5 and 5a) of the
KWG (German Banking Act). It increased by €517
million and results from the raising of subordinated
liabilities. €329 million of the subordinated liabili-
ties is covered by fair value hedges.
The maturity structure is as follows:
41. Notes to the cash flow statement
The consolidated cash flow statement is prepared
in accordance with IAS 7 (Cash Flow Statements)
and discloses the cash flows in order to present the
source and application of cash and cash equivalents.
It distinguishes between cash flows from operating,
investing and financing activities. Cash and cash
equivalents are composed of cash, checks and bank
balances with a maturity of not more than three
months, and correspond to the cash and cash equiv-
alents reported on the balance sheet. The effects
of currency translation and changes in the consoli-
dated group are adjusted when calculating cash
and cash equivalents.
•Net cash from operating activities
Cash flows from operating activities are calculated by
adjusting net profit before taxes for non-cash items.
The result is Cash flow I, from which net cash from
operations (Cash flow II) is calculated by adjustments
for changes in working capital.
Consolidated Financial Statements
Notes
143
2000
Other liabilities
2001
in €m
Payable to subsidiaries 103 4
Associate payables 4 2
Joint venture payables 4 2
Deferred income 787 2,076
Miscellaneous other liabilities 3,160 2,626
4,058 4,710
2000
Maturities
2001
in €m
Less than one year 3,707 4,710
One to five years 207 0
More than five years 144 0
4,058 4,710
2000
Miscellaneous other liabilities
2001
in €m
Hybrid capital of Deutsche Postbank group 1,174 657
Tax liabilities 315 370
Compensated absences 258 286
Liabilities from the sale of residential building loans 254 229
Payable to employees and members of
executive bodies 122 56
COD liabilities 113 84
Overtime claims 92 92
Social security liabilities 85 27
Wages, salaries, severance 83 95
Incentive bonuses 67 69
Other compensated absences 49 52
Payable to Bundes-Pensions-Service für Post
und Telekommunikation e.V. 45 0
Advance payments received 25 27
Debtors with credit balances 20 18
Derivatives 14 40
Liabilities from compensation payments 8 5
Agency agreement settlement 0 16
Other miscellaneous liabilities 436 503
3,160 2,626