DHL 2011 Annual Report Download - page 162

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS OF
DEUTSCHE POST AG
BASIS OF PREPARATION
 Basis of accounting
As a listed company, Deutsche Post  prepared its consoli-
dated  nancial statements in accordance with the International
Financial Reporting Standards  s, as adopted by the European
Union , and the provisions of commercial law to be additionally
applied in accordance with section  a  of the Handels gesetzbuch
( – German Commercial Code).  e  nancial statements
represent an annual  nancial report within the meaning of the
Transparenzrichtlinie- Umsetzungsgesetz ( – Transparency Direc-
tive Implementing Act) (section  v of the Wert papierhandelsgesetz
(WpHG – German Securities Trading Act) dated  January .
 e requirements of the Standards applied have been satis ed
in full, and the consolidated  nancial statements therefore provide
a true and fair view of the Group’s net assets,  nancial position and
results of operations.
 e consolidated  nancial statements consist of the income
statement and the statement of comprehensive income, the balance
sheet, the cash  ow statement, the statement of changes in equity
and the Notes. In order to improve the clarity of presentation, vari-
ous items in the balance sheet and in the income statement have
been combined.  ese items are disclosed and explained separately
in the Notes.  e income statement has been classi ed in accord-
ance with the nature of expense method.
 e accounting policies, as well as the explanations and dis-
closures in the Notes to the  consolidated  nancial statements
for  nancial year , are generally based on the same accounting
policies used in the  consolidated  nancial statements. Excep-
tions to this are the changes in international  nancial reporting
under the  s described in Note  that have been required to
be applied by the Group since  January  and the adjustment
of prior-period amounts disclosed in Note .  e accounting pol-
icies are explained in Note .
 e  nancial year of Deutsche Post  and its consolidated
subsidiaries is the calendar year. Deutsche Post , whose regis-
tered o ce is in Bonn, Germany, is entered in the commercial reg-
ister of the Bonn Local Court.
 ese consolidated  nancial statements were authorised for
issue by a resolution of the Board of Management of Deutsche
Post  dated  February .
 e consolidated  nancial statements are prepared in euros
. Unless otherwise stated, all amounts are given in millions of
euros ( million,  m).
 Consolidated group
In addition to Deutsche Post , the consolidated  nancial
statements for the period ended  December  include all Ger-
man and foreign companies in which Deutsche Post  directly
or indirectly holds a majority of voting rights, or whose activities
it can control in some other way.  e companies are consolidated
from the date on which the Group is able to exercise control.
 e companies listed in the table below are consolidated in
addition to the parent company Deutsche Post .
Consolidated group
2010 2011
Number of fully consolidated companies
( subsidiaries)
German 80 76
Foreign 747 754
Number of proportionately consolidated joint
ventures
German 1 1
Foreign 16 13
Number of companies accounted for using
the equity method (associates) 1
German 28 31
Foreign 31 28
1 The interest in Deutsche Postbank  has been measured in accordance with  
since March .
 e complete list of the Group’s shareholdings in accordance
with section   nos.  to  and  of the  can be found in
Note .
Acquisitions in 
Acquisitions, 
Country Segment Interest in %
Date
of acquisition
Name
Adcloud GmbH
( Adcloud), Cologne Germany  100 1 April 2011
Eurodifarm srl.
(Eurodifarm), Lodi Italy   100 11 May 2011
Standard Forward-
ing  (Standard
Forwarding),
East Moline 

,
 100 1 June 2011
Tag EquityCo
Limited (Tag
Equity), Grand
Cayman
Cayman
Islands   100 11 July 2011
LifeConEx 
(LifeConEx),
Plantation 

,
 100 29 July 2011
Post Logistics
Australasia,
Melbourne
(Post Logistics
Australasia) Australia   Asset deal
1 October
2011
Deutsche Post DHL Annual Report 
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