DHL 2010 Annual Report Download - page 184

No deferred tax assets were recognised for tax loss carryfor-
wards of around  . billion (previous year:  . billion) and for
temporary di erences of around  , million (previous year:
 , million), as it can be assumed that the Group will prob-
ably not be able to use these tax loss carryforwards and temporary
di erences in its tax planning. Most of the loss carryforwards are
attributable to Deutsche Post . It will be possible to utilise them
for an inde nite period of time. In the case of the foreign compa-
nies, the signi cant loss carryforwards will not lapse before .
Deferred taxes have not been recognised for temporary dif-
ferences of   million (previous year:   million) relating to
earnings of German and foreign subsidiaries because these tempo-
rary di erences will probably not reverse in the foreseeable future.
 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 valu-
ation allowances on these inventories.
 Income tax assets and liabilities
All income tax assets and liabilities are current and have
maturities of less than one year.
Maturity structure
 m
Short-term Long-term Total

Deferred tax assets 133 840 973
Deferred tax liabilities 42 173 215

Deferred tax assets 120 548 668
Deferred tax liabilities 30 152 182
 m
2009 2010
Raw materials, consumables and supplies 156 161
Finished goods and goods purchased and held
forresale 47 44
Work in progress 15 13
Spare parts for aircraft 7 5
Advance payments 1 0
Inventories 226 223
 m
2009 2010
Income tax assets 196 223
Income tax liabilities 292 463
 e assets at fair value through pro t or loss mainly con-
sist of a put option related to the planned sale of the interest in
Deutsche Postbank to Deutsche Bank , see Note .  is item
also includes derivatives for hedging the currency risk.
Write-downs on non-current  nancial assets amounting to
  million (previous year:   million) were recognised in the
income statement because the assets were impaired. A large pro-
portion (  million; previous year:   million) of this amount is
attributable to assets at fair value through pro t or loss and   mil-
lion (previous year:   million) to available-for-sale  nancial assets.
Compared with the market rates of interest prevailing at
 December  for comparable non-current  nancial assets,
most of the housing promotion loans are low-interest or interest-
free loans.  ey are recognised in the balance sheet at a present value
of   million (previous year:   million).  e principal amount of
these loans totals   million (previous year:   million).
Details on restraints on disposal are contained in Note .
(Collateral).
 Other non-current assets
Further information on pension assets can be found in Note .
 Deferred taxes
  million (previous year:   million) of the deferred
taxes on tax loss carryforwards relates to tax loss carryforwards in
Germany and   million (previous year:   million) to foreign
tax loss carryforwards.
 m
2009 2010
Pension assets 288 375
Miscellaneous 60 90
Other non-current assets 348 465
 m 2009 2010
Assets Liabilities Assets Liabilities
Intangible assets 57 295 39 210
Property, plant and equipment 90 32 85 43
Non-current fi nancial assets 3 0 13 71
Other non-current assets 33 36 4 50
Other current assets 33 41 33 18
Provisions 211 14 196 12
Financial liabilities 412 97 332 61
Other liabilities 67 47 54 32
Tax loss carryforwards 142 – 499 –
Gross amount 1,048 562 1,255 497
Netting –380 –380 –282 –282
Carrying amount 668 182 973 215
Deutsche Post DHL Annual Report 
170