DHL 2005 Annual Report Download - page 113
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26 Other noncurrent assets
Other noncurrent assets
€m Pension assets Derivates Sureties provided Other Total
Historical cost
Opening balance at January 1, 2005 51 161 0 23 235
Changes in consolidated group 121 0 0 37 158
Additions 13 37 23 29 102
Reclassifications 0 0 0 –2 –2
Disposals 0 –114 0 –12 –126
Currency translation differences 0 1 0 2 3
Closing balance at December 31, 2005 185 85 23 77 370
Impairment losses
Opening balance at January 1, 2005 0 0 0 0 0
Changes in consolidated group 0 0 0 0 0
Impairment losses (+)/reversal of impairment losses (–) –4 0 0 1 –3
Reclassifications 0 0 0 0 0
Disposals 0 0 0 0 0
Currency translation differences 0 0 0 0 0
Closing balance at December 31, 2005 –4 0 0 1 –3
Carrying amounts at December 31, 2005 189 85 23 76 373
Carrying amounts at December 31, 2004 51 161 0 23 2351)
1) Prior-period amount restated; see note 5.
e derivatives – interest rate swaps/fair value hedges – relate to
bonds issued by Deutsche Post Finance, Netherlands, and were en-
tered into with external banks.
e increase in pension assets is due to the acquisition of Exel’s pen-
sion assets totaling €117 million. Further information on pension
assets can be found in note 40.
27 Deferred tax assets
Deferred tax assets 2004 2005
€m
Deferred tax assets from tax loss
carryforwards 337 225
Deferred tax assets from temporary
differences 427 658
764 883
No deferred tax assets were recognized on tax loss carryforwards of
around €8.4 billion (previous year: €1.8 billion), as it can be assumed
that the Group will not be able to use these tax loss carryforwards
within the framework of medium-term tax planning. It will be pos-
sible to utilize these tax loss carryforwards for an indenite period
of time. Most of the loss carryforwards are attributable to Deutsche
Post AG. e substantial year-on-year increase is primarily due to the
results of an external tax audit relating to the opening tax accounts of
Deutsche Post AG.
Deferred tax assets from tax loss carryforwards
2004 2005
€m
Deferred taxes from German
tax loss carryforwards
Corporation tax and solidarity surcharge 129 72
Trade tax 111 61
Deferred taxes from foreign
tax loss carryforwards 106 92
346 225
Netted against deferred tax liabilities –9 0
337 225
e maturity structure of deferred tax assets from tax loss carryfor-
wards is as follows:
Maturity structure 2004 2005
€m
Less than 1 year 59 16
1 to 5 years 268 201
More than 5 years 10 8
337 225
Deutsche Post World Net
109
Notes
Consolidated Financial StatementsAdditional Information