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Notes Consolidated Financial Statements
Deutsche Post World Net Annual Report 2007
Deferred tax assets for tax loss carryforwards
€m 2006 2007
Deferred taxes for German tax loss carryforwards
Corporation tax and solidarity surcharge 111 80
Trade tax 95 70
Deferred taxes for foreign tax loss carryforwards 64 77
270 227
Maturity structure of deferred tax assets for tax loss carryforwards
€m 2006 2007
Less than 1 year 48 10
1 to 2 years 42 9
2 to 3 years 111 86
3 to 4 years 15 84
4 to 5 years 18 4
More than 5 years 36 34
270 227
Maturity structure of deferred tax assets and liabilities for temporary
differences
€m 2006 2007
Assets Liabilities Assets Liabilities
Less than 1 year 61 141 220 12
1 to 2 years 35 18 67 18
2 to 3 years 26 4 38 7
3 to 4 years 12 90 20 417
4 to 5 years 19 903 285 542
More than 5 years 119 270 163 573
272 1,426 793 1,569
e following deferred tax assets and liabilities for temporary di er-
ences result from di erences in the carrying amounts of individual bal-
ance sheet items:
Deferred taxes for temporary differences
€m 2006 2007
Assets Liabilities Assets Liabilities
Intangible assets 58 727 72 701
Property, plant and
equipment 2471 1775
Non-current fi nancial assets 0 1 26 0
Other non-current assets 3 117 14 37
Current assets
Receivables and other
securities from fi nancial
services 139 1,965 394 2,205
Other current assets 203 49 143 10
Provisions 367 27 434 131
Financial liabilities 25 0 4 0
Liabilities from fi nancial
services 1,154 83 1,653 97
Other liabilities 20 107 31 313
1,993 3,147 2,788 3,569
Balance of deferred tax assets
and liabilities
of which for tax loss
carryforwards 0 0 0 –5
of which for temporary
differences –1,721 –1,721 –1,995 –1,995
Carrying amount 272 1,426 793 1,569
28 Inventories
Standard costs for inventories of postage stamps and spare parts in
freight centres amounted to million (previous year: million).
ere was no requirement to charge signi cant valuation allowances
on these inventories.
€m 2006 2007
Finished goods and goods purchased and held
for resale 120 59
Spare parts for aircraft 2 6
Raw materials and supplies 117 164
Work in progress 28 18
Advance payments 1 1
Inventories 268 248
29 Income tax assets and liabilities
All income tax assets are current and have maturities of less than one
year.
€m 2006 2007
Income tax assets 281 312
Income tax liabilities 101 139
30 Receivables and other assets
€m 2006 2007
Trade receivables 6,395 6,377
Prepaid expenses 990 1,038
Deferred revenue 403 558
Current tax receivables 389 461
Receivables from sales of assets 5 196
Income from cost absorption 47 83
Creditors with debit balances 51 63
Receivables from Group companies 80 53
Current derivatives 57 52
Receivables from insurance business 13 32
Receivables from employees 52 30
Land rights 15 22
Receivables from loss compensation
(recourse claims) 10 19
Receivables from cash-on-delivery 28 18
Rent receivables 16 17
Receivables from residential housing construction
pools 14 14
Receivables from BAnstPT (Federal Posts and
Telecommunications Agency) 4 0
Receivables from private postal agencies 2 7
Miscellaneous other assets 735 766
Receivables and other assets1) 9,306 9,806
1) Prior period amount restated, see Note 4.
million of the tax receivables (previous year: million) relates
to VAT, million (previous year: million) to customs and duties,
and million (previous year: million) to other tax receivables.
Miscellaneous other assets include a large number of individual items.
Further information on derivatives can be found in Note . .