DHL 2009 Annual Report Download - page 151

  (  –  e Limit on a De ned Bene t Asset, Mini-
mum Funding Requirements and their Interaction) supplements
the existing provisions of   relating to the limit on the meas-
urement of a de ned bene t asset known as the asset ceiling
( .  .). In addition, the Interpretation sets out how the re-
quirement to limit a de ned bene t asset should be applied in the
event of statutory or contractual minimum funding requirements.
Deutsche Post’s accounting practice to date already complied with
the provisions of this Interpretation, meaning there were no mate-
rial e ects on the consolidated  nancial statements.
 e revision of   (Presentation of Financial Statements) is
intended to improve users’ ability to analyse and compare the in-
formation given in  nancial statements.  e changes relate mainly
to revised designations for the income statement, balance sheet
and cash  ow statement, the introduction of a statement of certain
changes in equity (statement of comprehensive income) and the ob-
ligation to publish an opening balance sheet for the earliest period
presented that is a ected by a retrospective change of accounting
policy or restatement.  ese changes have been applied.
On  March , the  published amendments to
  (Improved Disclosures Regarding Financial Instruments).
 ese amendments provide for more extensive disclosures about
the measurement of  nancial instruments at fair value and about
liquidity risk.  e amendments are required to be applied for  -
nancial years that begin on or a er  January . However, no
comparative prior-year information is required with respect to the
additional disclosure requirements on  rst-time application.
New accounting pronouncements adopted
by the  required to be applied in future
 e following Standards, changes to Standards and Interpreta-
tions have already been endorsed by the European Union. However,
they will only be required to be applied in the future.
Applicable for
fi nancial years
beginning
on or after Signifi cance
  (Service Concession Arrangements) 30 March 2009 irrelevant
  (Hedges of a Net Investment
in a Foreign Operation) 30 June 2009
applied prior to
the effective date
  (Distributions of Non-cash Assets
to Owners) 31 October 2009 irrelevant
  (Business Combinations) and   (Con-
solidated and Separate Financial Statements) 1 July 2009 relevant
  (Agreements for the Construction
of Real Estate) 1 January 2010 irrelevant
  (Financial Instruments: Recognition
and Measurement) 1 July 2009 under review
  (First-Time Adoption of International
Financial Reporting Standards)
31 December
2009 irrelevant
  (Transfers of Assets from Customers) 1 July 2009 irrelevant
  (Financial Instruments: Presentation) 1 February 2010 under review
is recognised in non-current  nancial liabilities in addition to the
interest expense. Deutsche Post  has received a total of around
  billion from the sale of its interest in Postbank.
 e insolvency proceedings for Karstadt Warenhaus GmbH
and Quelle GmbH opened on  September . Quelle GmbH
has now been liquidated on the basis of a resolution by the Credi-
tors’ Meeting on  November . In , Deutsche Post ac-
quired the logistics activities of the trading group (then known as
KarstadtQuelle), including its warehouses, and entered into a ten-
year agreement governing further co-operation. Despite the insol-
vency proceedings, Deutsche Post DHL had continued to provide
all services for Karstadt and Quelle. However, an amended customer
master agreement will reduce revenue and earnings projections for
 and beyond.  e insolvency impacted earnings by  –  mil-
lion in the  nancial year.
Deutsche Post DHL withdrew from the domestic  express
business with e ect from the beginning of February .  e full
range of international products remains on o er. In  nancial year
, expenses were incurred for restructuring measures amount-
ing to   million (previous year:  , million).
 New developments in international accounting under the 
 e following Standards, changes to Standards and Interpreta-
tions are required to be applied on or a er  January :
Signifi cance
  (Operating Segments) relevant
  (Borrowing Costs) insignifi cant
  (Share-based Payment) insignifi cant
  (  Group and Treasury Share Transactions) insignifi cant
  (Customer Loyalty Programmes) insignifi cant
  (  – The Limit on a Defi ned Benefi t Asset,
Minimum Funding Requirements and their Interaction) insignifi cant
  (Presentation of Financial Statements) relevant
  (Financial Instruments) insignifi cant
  (First-Time Adoption of International Financial
Reporting Standards) and   (Consolidated and
Separate Financial Statements) irrelevant
Improvements to   insignifi cant
  (Improved Disclosures Regarding Financial Instruments) relevant
  (Reassessment of Embedded Derivatives)
and   (Financial Instruments: Recognition and Measurement) irrelevant
  (Operating Segments), which supersedes the previous
  (Segment Reporting), contains new provisions relating to the
presentation of segment reporting.   requires segment report-
ing to be based on the management approach. Under this approach,
the de nition of the segments and the disclosures for each segment
are based on the information used internally by management for
the purposes of allocating resources to the components of the entity
and assessing their performance. For information on the e ects of
the application of  , please refer to Note .
Deutsche Post DHL Annual Report 
134