DHL 2009 Annual Report Download - page 172
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Please find page 172 of the 2009 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.In nancial year as in the previous year, million of
investment property related to Exel Inc., , and million to
Deutsche Post . Rental income for this property amounted to
million (previous year: million), whilst the related expenses
also amounted to million (previous year: million). e fair
value amounted to million (previous year: million).
Investments in associates
Investments in associates developed as follows:
m
2008 2009
As at January 203 61
Additions 0 1,561
Changes in Group’s share of equity
Changes recognised in profi t or loss 2 28
Profi t distributions –1 –1
Changes recognised in other comprehensive income 0 123
Disposals –143 0
Carrying amount as at December 61 1,772
e change reported in investments in associates is primarily
due to Deutsche Postbank . Since March , the . interest
in the company remaining following the sale of the . stake has
been accounted for using the equity method. Since this also accounts
for the largest portion of this balance sheet item, the following table
only reports the assets, liabilities, income from banking transactions
and net pro t of Deutsche Postbank (all items ).
Deutsche Postbank ’s gures have been based on the last
published interim nancial statements as at September and
the last published consolidated nancial statements as at Decem-
ber because audited consolidated nancial statements from
Deutsche Postbank for the year ending December were
not available when Deutsche Post ’s consolidated nancial state-
ments were prepared. is does not apply to the preliminary annual
results for which were taken from a press release.
m
2008 2009
Assets 231,2821) 239,280
Liabilities 226,2631) 234,002
Income from banking transactions3) 11,2321) 6,963
Profi t (+) / loss (–) – 8862) 76
Amounts not including the restatement by Deutsche Postbank .
Preliminary amounts including the restatement by Deutsche Postbank .
Income from banking transactions includes interest income, commission income
and net trading income.
e equity investment in Deutsche Postbank attributable
to Deutsche Post had a market valuation of , million as
at December , based on the price of . per share. As
at December , Deutsche Post held ,, shares of
Deutsche Postbank. All Postbank shares were pledged as collateral
in connection with the second and third tranches of the sale of the
interest in Postbank, see Notes , and .
Advance payments relate only to advance payments on items
of property, plant and equipment for which the Group has paid ad-
vances in connection with uncompleted transactions. Assets under
development relate to items of property, plant and equipment in
progress at the balance sheet date for whose production internal
or third-party costs have already been incurred. Items of property,
plant and equipment pledged as collateral amounted to less than
million, as in the prior year.
. Finance leases
e following assets are carried as non-current assets resulting
from nance leases:
m
2008 2009
Intangible assets 3 0
Land and buildings 76 57
Technical equipment and machinery 27 24
Other equipment, operating and o ce equipment 31 30
Aircraft 444 407
Vehicle fl eet and transport equipment 11 3
Finance leases 592 521
e corresponding liabilities from nance leases are included
under nancial liabilities, see Note .
Investment property
m
2008 2009
Cost
As at January 260 45
Additions to consolidated group 0 0
Additions 1 0
Reclassifi cations 2 0
Disposals –219 0
Currency translation differences 1 0
As at December 45 45
Depreciation
As at January 73 13
Additions to consolidated group 0 0
Depreciation / impairment losses 1 0
Changes in fair value 0 0
Reclassifi cations 1 0
Disposals – 62 0
Currency translation differences 0 0
As at December 13 13
Carrying amount as at December 32 32
Deutsche Post DHL Annual Report
Consolidated Financial Statements
Notes
Balance sheet disclosures
155