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Notes Consolidated Financial Statements
Deutsche Post World Net Annual Report 2007
46.2 Maturity structure
€m Payable on
demand
Less than
3 months
3 months to
1 year 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years
More than
5 years Total
2007
Deposits from other banks 3,293 41,068 5,332 2,515 830 898 1,299 5,911 61,146
Due to customers 26,509 45,538 6,312 1,755 1,811 3,451 5,439 19,801 110,616
Securitised liabilities 0 992 1,173 3,913 1,206 258 248 1,768 9,558
Trading liabilities 0 508 211 233 201 193 336 3,912 5,594
Hedging derivatives 0 138 39 131 67 29 69 400 873
29,802 88,244 13,067 8,547 4,115 4,829 7,391 31,792 187,787
2006
Deposits from other banks 2,719 30,719 4,645 1,614 2,224 508 488 4,402 47,319
Due to customers 21,436 47,945 2,539 793 982 453 2,406 24,328 100,882
Securitised liabilities 0 5,227 2,600 1,818 3,552 1,210 116 1,363 15,886
Trading liabilities 0 749 116 151 272 193 170 1,967 3,618
Hedging derivatives 0 123 27 65 148 129 50 416 958
24,155 84,763 9,927 4,441 7,178 2,493 3,230 32,476 168,663
Cash Flow Disclosures
47 Cash fl ow disclosures
e consolidated cash ow statement is prepared in accordance with
IAS (Cash Flow Statements) and discloses the cash ows in order to
present the source and application of cash and cash equivalents. It dis-
tinguishes between cash ows from operating, investing and nancing
activities. Cash and cash equivalents are composed of cash, cheques and
bank balances with a maturity of not more than three months, and cor-
respond to the cash and cash equivalents reported on the balance sheet.
e e ects of currency translation and changes in the consolidated
group are adjusted when calculating cash and cash equivalents.
To enhance the clarity of the cash ow statement, changes in other as-
sets and liabilities were added to the cash ows from operating activities
before changes in working capital. ese re ect changes in non-current
assets and liabilities which are not part of the working capital. e previ-
ous year’s amounts were adjusted accordingly.
47.1 Net cash from operating activities
Cash ows from operating activities are calculated by adjusting net prof-
it before taxes for net nancial income/net nance costs and non-cash
factors, as well as taxes paid, changes in provisions and in other assets
and liabilities (net pro t before changes in working capital). Adjust-
ments for changes in working capital (excluding nancial liabilities)
result in net cash from or used in operating activities. Net cash from
operating activities can be broken down into net cash from operating ac-
tivities before changes in working capital and net in ows from changes
in working capital.
Net cash from operating activities before changes in working capital
amounts to , million, thus being largely on the previous year’s
level (, million). EBIT was reduced amongst other things by the
non-cash write-down for the Americas region, which was added back
in the depreciation/amortisation of non-current assets account. Other
than in the previous year, EBIT includes fewer gains on the disposal of
non-current assets. Resulting cash ows are transferred to cash ows
from investing activities. e increase in cash payments for other as-
sets and liabilities reduced liquidity. At million, tax payments are
roughly on a level with the previous year ( million). million of
this amount relates to Deutsche Postbank Group and million to
other Group companies.
Whereas the previous year saw an out ow of working capital, cash from
changes in working capital was received in the amount of million
in . e main reason for this change are receivables and/or liabilities
from nancial services which re ected a cash out ow in the previous
year in the amount of – million, whereas cash in the amount of
million was provided from this account in the year under review.
Overall, net cash from operating activities increased year-on-year by an
aggregate of , million to , million.
€m 2006 2007
Expense from remeasurement of assets 96 54
Income from remeasurement of liabilities –10 –26
Staff costs relating to stock option plan 30 14
Non-cash income and expense of Deutsche
Postbank Group 337 338
Other 0 5
Other non-cash income and expense 453 385