DHL 2002 Annual Report Download - page 103

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18
LOGISTICS
The LOGISTICS Corporate Division includes in particular
the Danzas group, with 312 companies. Customers are
offered a one-stop end-to-end service: air and ocean freight,
European overland transport and custom logistics solutions.
FINANCIAL SERVICES
The FINANCIAL SERVICES Corporate Division consists of
Postbank’s activities. This Corporate Division offers a wide
range of standardized banking services, including payments,
deposits, retail and corporate banking, fund products and
investment securities services. The FINANCIAL SERVICES
Corporate Division also includes the retail outlets, the retail
outlet networks of McPaper and Deutsche Post Service- und
Vertriebsgesellschaften, and the Pension Service.
The table above shows the reconciliation of Postbank’s
consolidated profit from operating activities (EBITA) to the
EBITA of the FINANCIAL SERVICES segment.
Other/Consolidation
The amounts for the Corporate Divisions are presented after
consolidating intersegment transactions, which are eliminated
in the Other/Consolidation column. In addition to Group
measures, such as the STAR program (€1,077 million) and
the exceptional reversal of Deutsche Postbank AG’s negative
goodwill (€1,287 million), the Other/Consolidation column
also includes amounts not attributable to specific Corporate
Divisions, such as real estate and housing activities, and
e-business.
9.2 Disclosures on the segment amounts
by Corporate Division
External revenue is the revenue generated by the Corporate
Divisions from non-Group third parties.
Internal revenue is revenue generated with other
Corporate Divisions. Transfer prices for intragroup revenue
are determined on an arm’s length basis. For services for
which no external market exists, transfer prices are based on
fully absorbed costs. The additional costs resulting from
Deutsche Post AG’s universal service obligation (nationwide
retail outlet network, delivery every working day), and from
its obligation to assume the compensation structure as the
legal successor to Deutsche Bundespost, are allocated to the
MAIL Corporate Division.
The segment revenue and expense of the FINANCIAL
SERVICES Corporate Division also include the Deutsche
Postbank group’s interest, fee and commission income
and expense, because these are allocated to the business
operations of this Corporate Division.
Segment assets are composed of noncurrent assets
(excluding noncurrent financial assets) and current assets
(excluding income tax receivables, cash and cash equivalents,
and current financial instruments) including receivables
from financial services. Purchased goodwill is allocated to
the Corporate Divisions.
Segment liabilities relate to non-interest bearing liabilities
(excluding income tax liabilities) and to liabilities from
financial services.
Segment investments relate to intangible assets (including
purchased goodwill) and property, plant and equipment.
Depreciation, amortization and write-downs relate to
the segment assets allocated to the individual Corporate
Divisions.
Other non-cash expenses relate primarily to expenses
from the recognition of provisions.
Reconciliation to EBITA of FINANCIAL SERVICES segment
in €m 2001 2002
Deutsche Other* Total Deutsche Other Total
Postbank Postbank
EBITA before consolidation effects 344 11 355 398 11 409
Reversal of negative goodwill 215 – 215 212 – 212
Reversal of hidden reserves -48 – -48–––
EBITA of FINANCIAL SERVICES segment 511 11 522 610 11 621
* As in fiscal year 2002, consists of the retail outlets, the retail outlet networks of McPaper und Deutsche Post Service- und Vertriebsgesellschaften, and the Pension Service