DHL 2012 Annual Report Download - page 146

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 Handelsgesetzbuch
( – German Commercial Code). e nancial statements rep-
resent an annual nancial report within the meaning of the Trans-
parenzrichtlinie-Umsetzungsgesetz ( – Transparency Directive
Implementing Act) (section  v of the Wertpapierhandelsgesetz
(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 . e accounting
policies 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
regis ter 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
German 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
2011 2012
Number of fully consolidated companies
( subsidiaries)
German 76 85
Foreign 754 730
Number of proportionately consolidated joint
ventures
German 1 1
Foreign 13 3
Number of companies accounted for using
the equity method (associates) 1
German 31 0
Foreign 28 8
1 The interest in Deutsche Postbank  had been measured in accordance with  
since March  and was disposed of in February .
e decrease in the number of equity-accounted companies is
largely attributable to the derecognition of Deutsche Postbank 
and its subsidiaries. e complete list of the Group’s shareholdings
in accordance with section   nos.  to  and section  
of the  can be accessed on the website, www.dp-dhl.com/en/
investors.html.
Deutsche Post DHL Annual Report 
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