DHL 2005 Annual Report Download - page 120

Revaluation reserve in accordance with IAS 39
e revaluation reserve contains gains and losses from changes in the
fair values of available-for-sale nancial instruments that have been
taken directly to equity. is reserve is reversed to income either
when the assets are sold or otherwise disposed of, or if the fair value
of the assets falls more than temporarily below their cost.
Revaluation reserve 20041) 2005
€m
Balance at January 1 –203 191
Restatement IAS 39 (revised 2004) 301 0
Additions (+)/disposals (–) 161 165
Restatement within the fiscal year 100 0
Deferred taxes recognized directly in equity 1 13
Reversed to income –169 –149
Balance at December 31 191 220
1) Prior-period amounts restated; see note 5.
In scal year 2005, on the one hand available-for-sale nancial instru-
ments in the amount of €149 million (previous year: €169 million)
were reversed to income; on the other, the reserve increased by €165
million (previous year: €161 million) as a result of the measurement
of available-for-sale nancial instruments. Further details can be
found in note 32.
e revaluation reserve relates almost entirely to gains or losses on
the fair value measurement of nancial instruments of the Deutsche
Postbank group.
Hedging reserve in accordance with IAS 39
Net gains or losses from changes in the fair value of the eective por-
tion of a cash ow hedge are taken directly to the hedging reserve.
e hedging reserve is released to income when the hedged item is
settled.
Hedging reserve 2004 2005
€m
Balance at January 1 –105 –133
Gains credited to hedging reserve 96 160
Losses charged to hedging reserve –124 –78
Balance at December 31 –133 –51
e fall in the hedging reserve is due to measurement adjustments
for previous hedges.
37 Retained earnings
Retained earnings mainly contain the undistributed consolidated
prots generated in prior periods. Retained earnings are composed
of the following items:
Retained earnings 20041) 2005
€m
Undistributed profit of prior-year periods 4,547 5,663
Consolidated net profit for the year where at-
tributable to Deutsche Post AG shareholders 1,598 2,235
Dividend –490 –556
Currency translation differences 28 108
Miscellaneous –20 2
5,663 7,452
1) Prior-period amounts restated; see note 5.
Changes in the reserves during the year under review are also pre-
sented in the statement of changes in equity.
38 Equity attributable to Deutsche Post AG shareholders
e equity attributable to Deutsche Post AG shareholders in scal
year 2005 amounted to €10,707 million (previous year: €7,242 mil-
lion).
Dividends
Dividends paid to the shareholders of Deutsche Post AG are based on
the unappropriated surplus of €1,814 million (previous year: €1,301
million) reported in the annual nancial statements of Deutsche Post
AG prepared in accordance with the German Commercial Code. e
amount of €979 million (previous year: €745 million) remaining af-
ter deduction of the planned total dividend of €835 million (previ-
ous year: €556 million) will be transferred to the retained earnings of
Deutsche Post AG.
e dividend is tax-exempt for shareholders resident in Germany. No
capital gains tax (investment income tax) will be withheld on the dis-
tribution.
39 Minority interest
Minority interest includes adjustments for the interests of non-Group
shareholders in the consolidated equity from acquisition accounting,
as well as their interests in prot and loss. e interests relate primar-
ily to the following companies:
Minority Interest 20041) 2005
€m
Deutsche Postbank group 1,584 1,724
DHL Sinotrans 18 47
Exel group 0 25
Blue Dart 0 10
Other companies 21 27
1,623 1,833
1) Prior-period amounts restated; see note 5.
Annual Report 2005
116