DHL 2003 Annual Report Download - page 124
Download and view the complete annual report
Please find page 124 of the 2003 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.120
The following tables only include significant pension plans.
Changes in the present value of obligations
in €m Deutsche EXPRESS LOGISTICS Deutsche EXPRESS LOGISTICS
Deutsche Postbank excl. excl. Deutsche Postbank excl. excl.
Post AG group DPAG DPAG Other Total Post AG group DPAG DPAG Other Total
2002 2002 2002 2002 2002 2002 2003 2003 2003 2003 2003 2003
Present value of obligations at Jan. 1 7,259 591 0 461 17 8,328 7,034 623 514 544 56 8,771
Service cost excl. employee contributions 110 7 18 22 35 192 91 9 41 23 4 168
Employee contributions 0007073177018
Interest cost 394 34 4 24 0 456 382 35 35 28 0 480
Pension payments – 459 –37 0 –14 –1 –511 –473 – 42 –28 –21 0 –564
Past service cost 000000610007
Plan curtailments – 2375080–224000000
Transfers –16 0 437 52 5 478 176 4 55 36 – 49 222
Acquisitions 0 0 55 0 0 55 0 0 137 0 0 137
Actuarial gains/losses –17 23 0 –18 0 –12 85 –17 12 8 0 88
Currency translation effects 00020200–18–250–43
Present value of obligations at Dec. 31 7,034 623 514 544 56 8,771 7,304 614 755 600 11 9,284
Reconciliation of present value of obligations and funded status
in €m Deutsche EXPRESS LOGISTICS Deutsche EXPRESS LOGISTICS
Deutsche Postbank excl. excl. Deutsche Postbank excl. excl.
Post AG group DPAG DPAG Other Total Post AG group DPAG DPAG Other Total
2002 2002 2002 2002 2002 2002 2003 2003 2003 2003 2003 2003
Funded obligations at Dec. 31 3,098 0 477 479 0 4,054 3,468 0 683 564 0 4,715
Unfunded obligations at Dec. 31 3,936 623 37 65 56 4,717 3,836 614 72 36 11 4,569
Total obligations at Dec. 31 7,034 623 514 544 56 8,771 7,304 614 755 600 11 9,284
Fair value of plan assets at Dec. 31 –1,422 0 –523 – 451 0 –2,396 –1,668 0 – 641 – 457 0 –2,766
Unrealized gains/losses –132 – 60 – 6 –30 0 –228 –186 – 42 2 – 33 0 –259
Provision/plan assets at Dec. 31 5,480 563 –15 63 56 6,147 5,450 572 116 110 11 6,259
Changes in plan assets
in €m Deutsche EXPRESS LOGISTICS Deutsche EXPRESS LOGISTICS
Deutsche Postbank excl. excl. Deutsche Postbank excl. excl.
Post AG group DPAG DPAG Other Total Post AG group DPAG DPAG Other Total
2002 2002 2002 2002 2002 2002 2003 2003 2003 2003 2003 2003
Fair value of plan assets at Jan. 1 1,200 0 0 378 0 1,578 1,422 0 523 451 0 2,396
Employer contributions 481 0 32 0 0 513 2190060225
Employee contributions 0007070077014
Actual return on plan assets 27 0 3 –12 0 18 77 0 29 5 0 111
Pension payments –2860000–286–1980000–198
Transfers 0 0 488 75 0 563 148 0 34 –12 0 170
Acquisitions 00000000460046
Currency translation effects 000303002002
Fair value of plan assets at Dec. 31 1,422 0 523 451 0 2,396 1,668 0 641 457 0 2,766
The acquisitions in 2003 relate primarily to Airborne in
the USA, Securicor in the United Kingdom, and DHL Express
Canada Ltd. (Loomis) in Canada.
In accordance with IAS 19.92, actuarial gains and losses are
recognized only to the extent that they exceed the greater of 10% of
the present value of the obligations or of the fair value of plan assets.
The excess amount is spread over the remaining working lives of the
active employees and recognized in income.