DHL 2005 Annual Report Download - page 130

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Other liabilities 20041) 2005
€m
Subordinated debt of
Deutsche Postbank group
of which noncurrent: €3,784 million
(previous year: €2,729 million)
2,808
3,784
Deferred income 487 608
Payable to employees and members
of executive bodies 271 503
Compensated absences 355 411
Wages, salaries, severance 220 335
Incentive bonuses 176 290
Liabilities from the sale of
residential building loans
of which noncurrent: €105 million
(previous year: €96 million)
258
264
Derivatives
of which noncurrent: €70 million
(previous year: €109 million)
223
155
Overtime claims 78 154
Social security liabilities 129 123
COD liabilities 47 85
Liabilities to Group companies 7 69
Conversion right for exchangeable bond 28 65
Other compensated absences 51 52
Debtors with credit balances 10 46
Insurance liabilities 29 23
Early termination fees 17 13
Liabilities from checks issued 13 11
Liabilities from defined contribution pension
plans 10 8
Other liabilities to customers 21 7
Liabilities from BHW loans 5 0
Liabilities to Bundes-Pensions-Service für Post
und Telekommunikation e.V. 2 0
Miscellaneous other liabilities 709 815
5,954 7,821
1) Prior-period amounts restated due to chart of account; see note 5.
e increase in other liabilities is primarily due to the subordinated
debt of the Deutsche Postbank group. e subordinated debt relates
to subordinated liabilities, hybrid capital instruments, prot par-
ticipation certicates outstanding and contributions by typical silent
partners. Due to the current residual maturity structure, these items
only represent liable capital as dened by the Basel Capital Accord
in the amount of €2,389 million. A total of €2,290 million (previ-
ous year: €1,297 million) of the subordinated debt is hedged against
changes in fair value.
e liabilities from the sale of residential building loans relate to obli-
gations of Deutsche Post AG to pay interest subsidies to borrowers to
oset the deterioration in borrowing terms in conjunction with the
assignment of receivables in previous years, as well as pass-through
obligations from repayments of principal and interest for residential
building loans sold.
Miscellaneous other liabilities include a number of individual items
that do not exceed €10 million.
Further details on the derivatives can be found in note 51.2.
e maturity structure of other noncurrent liabilities is as follows:
Maturity structure
€m
1 year to 2 years 53
2 years to 3 years 285
3 years to 4 years 142
4 years to 5 years 40
More than 5 years 3,469
Total 3,989
Short maturities or marking-to-market means that there are no sig-
nicant dierences between the carrying amounts and fair value of
all other primary nancial instruments. ere is no signicant inter-
est rate risk because most of these instruments bear oating rates of
interest at market rates.
45 Current tax provisions
Tax provisions contain provisions for current income tax obliga-
tions and for other taxes. Provided that they are due in the same tax
jurisdiction and relate to the same type of tax and maturity, current
income tax obligations are eliminated against corresponding recover-
able taxes.
Changes in tax provisions
€m
Opening balance at January 1, 2005 665
Changes in consolidated group 162
Utilization –172
Reclassification –28
Reversal –392
Currency translation differences 5
Additions 385
Carrying amount at December 31, 2005 625
Annual Report 2005
126