DHL 2005 Annual Report Download - page 137

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e following table provides an overview of the recognized derivative
assets and liabilities, structured by remaining maturity:
Remaining maturities Hedging derivatives Trading and banking book derivatives
Positive
fair values
Negative
fair values
Positive
fair values
Negative
fair values
Positive
fair values
Negative
fair values
Positive
fair values
Negative
fair values
€m 2004 2005 2004 2005
Less than 3 months 291 322 304 316 1,000 921 1,203 1,348
3 months to 1 year 60 56 32 54 279 277 110 103
1 to 2 years 80 168 16 82 53 55 32 65
2 to 3 years 48 205 14 118 39 83 33 18
3 to 4 years 23 138 44 144 49 54 74 103
4 to 5 years 57 273 28 141 117 125 111 57
More than 5 years 414 1,083 201 813 1,217 1,136 1,529 1,647
973 2,245 639 1,668 2,754 2,651 3,092 3,341
Derivatives – classication by counterparties
e following table presents the positive and negative fair values of
derivatives by counterparties.
Classification by counterparties
Positive
fair values
Negative
fair values
Positive
fair values
Negative
fair values
€m 2004 2005
Banks in OECD countries 3,681 4,774 3,653 4,914
Public institutions in
OECD countries 1 4 0 0
Other counterparties in
OECD countries 45 118 78 95
3,727 4,896 3,731 5,009
51.1.3 Fair values of nancial instruments carried at
amortized cost or at the hedged fair value
In accordance with IAS 39.166 in conjunction with IAS 32, both the
carrying amounts and the full fair values must be disclosed for nan-
cial instruments carried at amortized cost or at the hedged fair value.
If there is an active market for a nancial instrument, the full fair
value is expressed by the market or quoted exchange price; otherwise,
the full fair value is calculated using investment techniques.
Carrying amounts/fair values
Carrying
amount
Fair
value
Carrying
amount
Fair
value
€m 2004 2005
Assets
Cash reserve 1,125 1,125 968 968
Loans and advances
to other banks 23,820 23,974 17,801 17,862
Loans and advances
to customers 47,739 48,509 52,873 54,975
Allowance for losses
on loans and advances –667 –667 –776 –776
Investment securities 6,843 6,963 15,974 16,037
Liabilities
Deposits from
other banks 16,215 16,463 30,778 30,986
Amounts due to
customers 80,519 80,602 78,481 78,871
Securitized liabilities and
subordinated debt 19,298 19,564 18,397 18,806
51.2 Risks and fair values of nancial instruments in other
Deutsche Post World Net companies
Derivatives
As a result of its operating activities, Deutsche Post World Net is
exposed to nancial risks that may result from changes in exchange
rates, commodity prices (in particular fuel prices) and interest rates.
Deutsche Post World Net uses primary and derivative nancial in-
struments to limit these risks. e overarching principle applicable
to any use of derivatives is the hedging of risks from the underlying
transactions. Derivatives may therefore only be used to close risk po-
sitions, but never to enter into new risks for speculative purposes.
Deutsche Post World Net
133
Notes
Consolidated Financial StatementsAdditional Information