DHL 2008 Annual Report Download - page 177

Deutsche Post World Net Annual Report 2008
Consolidated Financial Statements
Notes
Liabilities from fi nancial services
€ m
2007 2008
Deposits from other banks 61,146
of which payable on demand: 3,292
of which fair value hedges: 783
Due to customers 110,616
of which payable on demand: 26,589
of which fair value hedges: 4,542
Securitised liabilities 9,558
of which fair value hedges: 5,797
Trading liabilities
Negative fair values of trading derivatives 4,955
Negative fair values of banking book hedging
derivatives 330
Negative fair values of derivatives in connection with
underlyings relating to the fair value option 308
Delivery obligations for short sales of securities 1
5,594
Hedging derivatives (negative fair values) 873
Liabilities from fi nancial services 187,787 0
€ m Payable Less than 3 months More than
on demand 3 months to 1 year 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years 5 years Total
2007 29,802 88,244 13,067 8,547 4,115 4,829 7,391 31,792 187,787
Cash fl ow disclosures
50 Cash fl ow disclosures
 e cash  ow statement for continuing operations is pre-
pared in accordance with   (Cash Flow Statements) and discloses
the cash  ows in order to present the source and application of cash
and cash equivalents. It distinguishes between cash  ows from oper-
ating, 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 correspond to the cash and
cash equivalents reported on the balance sheet.  e e ects of cur-
rency translation and changes in the consolidated group are adjusted
when calculating cash and cash equivalents. Since the Deutsche
Postbank Group no longer forms part of continuing operations, the
changes in cash and cash equivalents from the individual activities
at the Deutsche Postbank Group were reported separately
To enhance the clarity of the cash  ow statement, its structure
was changed. Proceeds from divestitures and cash paid to acquire
investments in companies now only include fully or proportionally
consolidated companies. Accordingly, the line items were renamed
proceeds from disposal of and cash paid to acquire subsidiaries and
other business units.  e other non-current assets item was split into
two new items. Cash receipts and payments are now reported sepa-
rately for property, plant and equipment and intangible assets and
for other non-current  nancial assets.  e latter item also includes
in ows and out ows from companies accounted for at equity.  e
dividend received from Deutsche Postbank  is now recognised
separately under net cash from / used in investing activities. Proceeds
from and cash paid to acquire foreign currency derivatives were
extracted from the interest received or interest paid items and reclas-
si ed to other  nancing activities. Financial liabilities were split into
current and non-current  nancial liabilities, non-current  nancial
liabilities being further subdivided into borrowing and repayment.
 e prior-year  gures were restated accordingly.
50.1 Net cash from operating activities
Cash  ows from operating activities are calculated by adjust-
ing net pro t before taxes for net  na nce cos ts / net  nancial income
and non-cash factors, as well as taxes paid, changes in provisions and
changes in other assets and liabilities (net pro t before changes in
working capital). Adjustments for changes in working capital (exclud-
ing  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 activities before changes in working
capital and net cash from changes in working capital.
 e maturity structure of liabilities from  nancial services for  nancial year  is as follows:
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