DHL 2011 Annual Report Download - page 193

. Capital reserves
 m
2010 2011
Capital reserves as at  January 2,147 2,158
Additions
Issue of rights under  Share Matching Scheme 6 3
Issue of rights under  Share Matching Scheme 14 17
Issue of rights under  Share Matching Scheme 0 13
Exercise of rights under  Share Matching Scheme –9 0
Exercise of rights under  Share Matching Scheme 0–21
Capital reserves as at  December 2,158 2,170
An amount of   million ( December :   million)
was transferred to the capital reserves in the period up to  De-
cember  for the ,  and  tranches of the Share
Matching Scheme.
 e exercise of the rights to shares under the  tranche
in April  reduced the capital reserves by   million (previous
year:   million for the  tranche) due to the issuance of treas-
ury shares in this amount to the executives.
. Revaluation reserve in accordance with  
 e revaluation reserve comprises gains and losses from
changes in the fair value of available-for-sale  nancial assets that
have been recognised in other comprehensive income.  is reserve
is reversed to pro t or loss either when the assets are sold or other-
wise disposed of, or if the fair value of the assets falls permanently
below their cost.
 m
2010 2011
As at  January 7 87
Currency translation differences 1 1
Unrealised gains / losses 5–8
Share of associates 90 13
Realised gains / losses –16 0
Revaluation reserve as at  December before tax 87 93
Deferred taxes –1 –3
Revaluation reserve as at  December after tax 86 90
 e issued capital increased again when the shares were is-
sued to the executives. Changes in treasury shares are presented in
the statement of changes in equity.
Authorised / contingent capital as at  December 
Amount
 m Purpose
Authorised Capital  240
Increase in share capital against
cash / non-cash contributions
(until  April )
Contingent Capital  75
Issue of option / conversion
rights ( May )
On  May , the Annual General Meeting resolved to
contingently increase the share capital by up to   million to grant
option or conversion rights or to settle conversion obligations to
the holders of bonds with warrants, convertible bonds and / or
income bonds, as well as pro t participation certi cates (Contin-
gent Capital ).
. Authorisation to acquire treasury shares
By way of a resolution adopted by the Annual General Meet-
ing on  April , the company is authorised to acquire treas-
ury shares in the period to  April  of up to   of the share
capital existing when the resolution was adopted.  e authorisa-
tion permits the Board of Management to exercise it for every
purpose permitted by law, and in particular to pursue the goals
mentioned in the resolution by the Annual General Meeting. In
addition, the Board of Management is authorised to acquire treas-
ury shares using derivatives. As at the reporting date in the pre-
vious year, Deutsche Post  did not hold any treasury shares on
 December .
. Disclosures on corporate capital
 e equity ratio was .  in  nancial year  (previous
year: . ).  e company’s capital is monitored using the net gear-
ing ratio which is de ned as net debt divided by the total of equity
and net debt. Due to the company’s net liquidity, the informa tive
value of this key  gure is limited and it has therefore not been
disclosed.
 Other reserves
 m
2010 2011
Capital reserves 2,158 2,170
Revaluation reserve in accordance with   86 90
Hedging reserve in accordance with   –33 –34
Revaluation reserve in accordance with   6 5
Currency translation reserve – 682 –517
Other reserves 1,535 1,714
Deutsche Post DHL Annual Report 
Consolidated Financial Statements
Notes
Balance sheet disclosures
187