DHL 2003 Annual Report Download - page 137
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Notes
The following table provides an overview of the derivative financial instruments employed at other Deutsche Post World Net companies
and their fair values:
The maturity structure of future non-cancelable payment
obligations from operating leases is presented below:
The present value of discounted minimum lease payments is
€4,104 million (previous year: €4,040 million). Overall, rental and
lease payments of €1,284 million (previous year: €1,294 million)
arose in 2003, of which €840 million (previous year: €723 million)
relates to non-cancelable leases.
Financial Statements
Fair values of derivatives
in €m Notional Notional
amount Net fair value amount Net fair value
2002 2002 2003 2003
Interest rate products
OTC products
Interest rate swaps 1,630 10 2,628 28
FRAs 0000
Interest rate options 150 – 3 150 –3
Other 148 –21 0 0
1,928 –14 2,778 25
Currency derivatives
OTC products
Currency forwards 857 –29 1,011 – 64
Currency options 445 – 5 116 –3
Currency swaps 1,173 35 1,363 54
Cross-currency swaps 456 12 446 – 43
Other 175 9 0 0
3,106 22 2,936 –56
Commodities
Fuel hedging program 93 11 131 10
5,127 19 5,845 –21
Maturities of minimum lease payments
Lease obligations
in €m 2002 2003
Land and buildings 4,701 4,716
Technical equipment and machinery 131 146
Other equipment, operating and office equipment 408 380
Aircraft 367 318
5,607 5,560
in €m 2002 2003
Year 1 after reporting date 859 886
Year 2 after reporting date 739 793
Year 3 after reporting date 610 642
Year 4 after reporting date 488 521
Year 5 after reporting date 450 435
Year 6 after reporting date and thereafter 2,461 2,283
5,607 5,560
Contingent liabilities
The Group’s contingent liabilities total €1,642 million (previous
year: €1,671 million). In addition to these contingent liabilities,
the Deutsche Postbank group has irrevocable loan commitments
amounting to €12,890 million (previous year: €11,321 million).
Litigation
Details of litigation can be found in the Group Management Report.
Other financial obligations
In addition to provisions, liabilities, and contingent liabilities, there
are other financial obligations amounting to €5,560 million (previ-
ous year: €5,607 million) from non-cancelable operating leases as
defined by IAS 17.
The Group’s future non-cancelable payment obligations under
leases are attributable to the following asset classes:
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