DHL 2012 Annual Report Download - page 171

e reconciliation to the eective income tax expense is
shown below, based on consolidated net prot before income taxes
and the expected income tax expense:
Reconciliation
 m
2011 2012
Profit before income taxes 1,659 2,238
Expected income taxes – 494 – 667
Deferred tax assets not recognised for initial
differences 14 8
Deferred tax assets of German Group companies
not recognised for tax loss carryforwards and
temporary differences 164 99
Deferred tax assets of foreign Group companies
not recognised for tax loss carryforwards and
temporary differences 54 143
Effect of current taxes from previous years –106 –70
Tax-exempt income and non-deductible expenses – 68 – 42
Differences in tax rates at foreign companies 43 71
Income taxes –393 – 458
e dierence from deferred tax assets not recognised for
initial dierences is due to temporary dierences between the
carrying amounts in the  nancial statements and in the tax
accounts of Deutsche Post  that result from initial dierences
in the opening tax accounts as at  January . In accordance
with  . (b) and  . (b), the Group did not recognise
any deferred tax assets in respect of these temporary dierences,
which relate mainly to property, plant and equipment as well as
to provisions for pensions and similar obligations. e remaining
temporary dierences between the carrying amounts in the 
nancial statements and in the opening tax accounts amounted to
 million as at  December  (previous year:  million).
e eects from deferred tax assets of German Group com-
panies not recognised for tax loss carryforwards and temporary
dierences relate primarily to Deutsche Post  and members
of its consolidated tax group. Eects from deferred tax assets of
foreign companies not recognised for tax loss carryforwards and
temporary dierences relate primarily to the Americas region.
 million (previous year:  million) of the eects from
deferred tax assets not recognised for tax loss carryforwards and
temporary dierences relates to the reduction of the eective income
tax expense due to the utilisation of tax loss carry forwards and tem-
porary dierences, for which deferred tax assets had previously not
been recognised. In addition, the recognition of deferred taxes pre-
viously not recognised for tax loss carry forwards and of deductible
temporary dierences from a prior period reduced the deferred
tax expense by  million (previous year:  million). Eects
from unrecognised deferred tax assets amounting to  million
(previous year:  million, write-down) were due to a valuation
allowance recognised for a deferred tax asset. Other eects from
un recognised deferred tax assets primarily relate to tax loss carry-
forwards for which no deferred taxes were recognised.
A deferred tax asset in the amount of  million (previous
year:  million) was recognised in the balance sheet for com-
panies that reported a loss in the previous year or in the current
period as, based on tax planning, realisation of the tax asset is
probable.
In nancial year , as in the previous year, German Group
companies were not aected by tax rate changes. e change in
the tax rate in some foreign tax jurisdictions did not lead to any
signicant eects.
e eective income tax expense includes prior-period tax
expenses from German and foreign companies in the amount of
 million (previous year: expense of  million).
e following table presents the tax eects on the compo-
nents of other comprehensive income:
Other comprehensive income
 m
Before taxes Income taxes After taxes

Currency translation reserve 10 0 10
Other changes in retained earnings 2 0 2
  hedging reserve 36 –9 27
  revaluation reserve –12 2 –10
  revaluation reserve –2 0–2
Share of other comprehensive
income of associates –37 0 –37
Other comprehensive income –3 –7 –10

Currency translation reserve 167 0 167
Other changes in retained earnings 1 0 1
  hedging reserve –3 1–2
  revaluation reserve –7 –2 –9
  revaluation reserve –1 0–1
Share of other comprehensive
income of associates 10 0 10
Other comprehensive income 167 –1 166
 Consolidated net profit for the period
In nancial year , the Group generated a consolidated net
prot for the period of , million (previous year: , mil-
lion). Of this gure, , million (previous year: , million)
was attributable to Deutsche Post  shareholders.
 Non-controlling interests
e net prot attributable to non-controlling interests in-
creased by  million to  million.
Deutsche Post DHL Annual Report 
Consolidated Financial Statements
Notes
Income statement disclosures
167