DHL 2004 Annual Report Download - page 106

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The following deferred tax assets and liabilities from temporary differences result from differences in the carrying amounts of individual
balance sheet items:
Deferred tax assets from temporary differences
in € m
Assets
2003
Liabilities
2003
Assets
2004
Liabilities
2004
Intangible assets 10 89 25 100
Property, plant and equipment 88 86 33 80
Noncurrent financial assets 4 8 6 8
Current assets
Receivables and other securities from financial services 70 1,370 126 796
Other current assets 35 4 31 0
Provision for pensions 229 10 133 26
Other provisions 344 337 412 304
Financial liabilities 12 0 7 0
Liabilities from financial services 796 52 142 113
Other liabilities 55 39 6 3
1,643 1,995 921 1,430
Balance of deferred tax assets and liabilities
thereof from temporary differences – 1,110 – 1,110 – 494 – 494
thereof from tax loss carryforwards n /a n /a –– 9
Carrying amount 533 885 427 927
n /a = not available
On October 22, the 556,400,026 no-par value registered shares
(222,560,000 of which were held by the Federal Republic of
Germany and 333,840,026 by the KfW) that had not been previ-
ously admitted for trading were admitted to the Official Market for
trading on seven stock exchanges within Germany.
Authorized capital
The authorized capital of € 80 million is composed of up to 80,000,000
no-par value registered shares resolved by the Extraordinary
General Meeting on October 13, 2000, is still in force. The Board of
Management is authorized to increase the share capital of the com-
pany correspondingly up to and including September 30, 2005. The
shares will be issued against non-cash contributions. Shareholders’
pre-emptive subscription rights have been disapplied. The company
did not exercise this authorization in fiscal year 2004.
Contingent capital
In accordance with the resolution by the Extraordinary General
Meeting on September 27, 2000, the share capital has been contin-
gently increased by up to € 50 million, composed of up to 50,000,000
no-par value registered shares. Its sole purpose is to service the
options which were granted as a result of the authorization granted
to the Board of Management and the Supervisory Board resolved
by the General Meeting on September 27, 2000, to issue stock
options (Stock Option Plan 2000). The authorization to issue stock
options under the Stock Option Plan 2000 was annulled in connec-
tion with the creation of a new stock option plan (Stock Option
Plan 2003) by resolution of the Annual General Meeting on June 5,
2003.
By way of a resolution passed by the Annual General Meet-
ing on June 5, 2003, the share capital was contingently increased by
up to € 60 million (Contingent Capital II). Its purpose is exclusively
to service rights granted in accordance with the authorization
given to the Board of Management and the Super visory Board to
issue stock options that was resolved by the Annual General Meet-
ing on June 5, 2003 (Stock Option Plan 2003).
The maturity structure of deferred tax assets from temporary
differences is as follows:
Maturities of deferred tax assets
from temporary differences
in € m 2003 2004
Less than 1 year 117 129
1 to 5 years 121 154
More than 5 years 295 144
533 427
33
Issued capital
The issued capital amounts to €1,112.8 million and is composed of
1,112,800,000 no-par value registered shares (ordinary shares), each
individual share having a notional share of €1 in the share capital.
The amount of share capital, the quantity and the category of shares
have not changed in the last three years.
The share capital changed as follows as of December 31, 2004:
Issued capital
Number of shares 2003 2004
Federal Republic of Germany 222,560,000 222,560,000
KfW Bankengruppe
(formerly Kreditanstalt für Wiederaufbau) 473,950,704 401,119,799
Free float 416,289,296 489,120,201
1,112,800,000 1,112,800,000