DHL 2005 Annual Report Download - page 124

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14%) and other assets, such as real estate (12%; previous year: 29%).
79% (previous year: 78%) of the real estate, which has a fair value
of €649 million (previous year: €657 million), is owner-occupied by
Deutsche Post AG.
Changes in the present value of dened benet obligations
Changes in the present value of defined benefit obligations
€m
Deutsche
Post AG
Deutsche
Postbank
group
EXPRESS
excluding
DPAG
LOGISTICS
excluding
DPAG
Other
Total
Deutsche
Post AG
Deutsche
Postbank
group
EXPRESS
excluding
DPAG
LOGISTICS
excluding
DPAG
Other
Total
2004 2005
Present value of
defined benefit obliga-
tions at January 1 7,304 614 755 600 11 9,284 7,621 714 889 574 33 9,831
Service cost, excluding
employee contributions 91 11 63 21 16 202 102 17 68 19 7 213
Employee contributions 0 0 6 7 0 13 0 0 12 5 0 17
Interest cost 389 38 46 23 0 496 359 37 53 17 5 471
Benefit payments –470 –40 –22 –17 0 –549 –495 –43 –47 –10 0 –595
Past service cost 0 –2 –1 3 6 6 6 0 –15 –5 –5 –19
Curtailments –389 –35 –66 –1 0 –491 –573 –17 –4 –2 –18 –614
Settlements 0 0 0 0 0 0 0 0 –2 –1 0 –3
Transfers 5 –2 74 –80 0 –3 –52 53 240 –225 54 70
Acquisitions 0 33 0 0 0 33 0 0 0 4,043 0 4,043
Actuarial gains (–)/
losses (+) 691 97 46 18 0 852 852 73 77 39 27 1,068
Currency translation
effects 0 0 –12 0 0 –12 0 0 21 3 0 24
Present value of
defined benefit obliga-
tions at December 31 7,621 714 889 574 33 9,831 7,820 834 1,292 4,457 103 14,506
e curtailments in 2005 primarily relate to Germany (see the infor-
mation given under note 4).
Changes in the fair value of plan assets
Changes in the fair value of plan assets
€m
Deutsche
Post AG
Deutsche
Postbank
group
EXPRESS
excluding
DPAG
LOGISTICS
excluding
DPAG
Other
Total
Deutsche
Post AG
Deutsche
Postbank
group
EXPRESS
excluding
DPAG
LOGISTICS
excluding
DPAG
Other
Total
2004 2005
Fair value of plan
assets at January 1 1,668 0 641 457 0 2,766 1,728 0 697 498 0 2,923
Employer contributions 196 0 56 19 0 271 206 1 50 15 0 272
Employee contributions 0 0 6 7 0 13 0 0 12 5 0 17
Expected return on
plan assets 49 0 44 27 0 120 51 3 59 16 0 129
Gains (+)/losses (–)
on plan assets –3 0 –41 13 0 –31 –8 3 52 11 0 58
Pension payments –187 0 –22 –17 0 –226 –201 0 –36 –6 0 –243
Transfers 5 0 25 –9 0 21 0 52 241 –239 0 54
Acquisitions 0 0 0 0 0 0 0 0 0 3,803 0 3,803
Settlements 0 0 0 0 0 0 0 0 –1 0 0 –1
Currency translation
effects 0 0 –12 1 0 –11 0 0 16 2 0 18
Fair value of plan as-
sets at December 31 1,728 0 697 498 0 2,923 1,776 59 1,090 4,105 0 7,030
e plan assets are primarily composed of xed-income securities,
xed-term deposits, other cash and cash equivalents, etc. (46%; pre-
vious year: 57%), equities and investment funds (42%; previous year:
Annual Report 2005
120