DHL 2011 Annual Report Download - page 167

 New developments in international accounting under  s
 e following Standards, changes to Standards and Interpre-
tations are required to be applied on or a er  January :
Effective for
fi nancial years
beginning on
or after Signifi cance
  (Financial Instruments: Presentation) 1 February 2010
Relevant,
not signifi cant
Improvements to  s ()
1 July 2010 /
1 January 2011
Relevant,
not signifi cant
  (Extinguishing Financial Liabilities
with Equity Instruments) 1 July 2010
Relevant,
not signifi cant
  (Related Party Disclosures) 1 January 2011
Early application
of partial exemp-
tion; relevant
  (Prepayments of a Minimum
Funding Requirement) 1 January 2011
Relevant,
not signifi cant
 e amendment to   (Financial Instruments: Presen-
tation) regarding the classi cation of rights issues requires rights,
options and warrants on a  xed number of the entity’s own equity
instruments for a  xed amount of any currency to be reported as
equity instruments if they are o ered pro rata to all existing owners
of the same class of equity instruments.  e amendments had no
material e ect on the consolidated  nancial statements.
On  May , the  issued its minor annual Improve-
ments to  s. Unless otherwise provided for in individual cases,
the changes are required to be applied retrospectively for the  rst
time for  nancial years commencing on or a er  January .
 e changes had no signi cant in uence on the consolidated  nan-
cial statements.
  (Extinguishing Financial Liabilities with Equity
Instruments) clari es how to account for equity instruments if
an entity renegotiates the terms of a  nancial liability and issues
equity instruments to fully or partially extinguish the  nancial
liability.  e e ects on the consolidated  nancial statements were
insigni cant.
 e amendments to   (Related Party Disclosures) pri-
marily comprise modi ed de nitions, the introduction of a par-
tial exemption from the disclosure requirements for government-
related entities and clari cation that executory contracts are also
reportable transactions. Deutsche Post DHL has applied the partial
exemption since  December .  e changes result in addi-
tional disclosure requirements.
As part of the planned sale of Deutsche Postbank shares, an
additional interest of .  will be transferred to Deutsche Bank 
a er three years, in February , when a mandatory exchange-
able bond on Postbank shares becomes due (second tranche).  e
mandatory exchangeable bond was issued by Deutsche Post 
in February  and was fully subscribed by Deutsche Bank .
 e bond will be exercised through the transfer of  million
Deutsche Postbank  shares. As at  December , the liability
amounted to around  . billion including interest (previous year:
 . billion). In a third tranche, Deutsche Post  and Deutsche
Bank  have agreed on options for the possible sale / purchase of
a further .  of the Postbank shares.  e exercise period for the
options commences on the  rst working day a er the exercise of
the mandatory exchangeable bond and ends in February .
As the planned Postbank sale is expected to occur in the  rst
quarter of , all related non-current assets and liabilities were
reported as current assets and liabilities.  e options have been re-
ported under current  nancial assets and current  nancial liabil-
ities since the  rst quarter of . Deutsche Bank  provided col-
lateral in the amount of around  . billion for the purchase price
of the remaining .  of Postbank shares, which is recognised in
current  nancial liabilities along with the interest expense.
 e remaining .  interest in Deutsche Postbank  previ-
ously accounted for using the equity method and presented under
investments in associates was reclassi ed as held for sale at the end
of February ; Note .
 e e ects of the planned Postbank sale are as follows for :
Effects of the planned Postbank sale
 m
2010 2011
 
Investments in associates / assets held for sale 1,797 1,916
Non-current / current fi nancial assets 2,509 2,278
Non-current / current fi nancial liabilities 4,164 4,344
 
Net income from associates 52 58
Net other fi nancial income / net other fi nance costs 1,517 –359
See Note  for further developments in relation to the
Postbank sale.
Deutsche Post DHL Annual Report 
Consolidated Financial Statements
Notes
Basis of preparation
161