DHL 2012 Annual Report Download - page 48
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e nancial liabilities reported in our balance sheet break down as follows:
. Financial liabilities
m
2011 2012
Bonds 1,659 4,109
Due to banks 163 137
Finance lease liabilities 175 149
Liabilities to Group companies 102 93
Liabilities at fair value through profit or loss 137 117
Other 4,774 211
7,010 4,816
e decline in nancial liabilities is primarily the result of completing the sale of
Postbank to Deutsche Bank, which reduced other nancial liabilities by approximately
. billion. By contrast, nancial liabilities from bonds rose signicantly, primarily
due to the two conventional bonds and one convertible bond with a total volume of
approximately billion issued in connection with the debt-nanced increase in plan
assets. Further information on recognised financial liabilities is contained in the Notes.
Operating leases remain an important source of funding for the Group. We mainly
use operating leases to nance real estate but also aircra, vehicle eets and equipment.
. Operating lease liabilities by asset class
m
2011 2012
Land and buildings 5,294 5,100
Aircraft 765 647
Technical equipment and machinery 80 65
Other equipment, operating and oce equipment, transport equipment, miscellaneous 486 513
6,625 6,325
Operating lease obligations decreased year-on-year to . billion because the
reduction in the remaining terms of legacy agreements, especially for real estate and
aircra, is not matched by the same volume of new leases.
Capital expenditure of . billion at prior-year level
As at the end of , the Group’s aggregate capital expenditure (capex) amounted
to , million and was thus at the same level as in the previous year (, mil-
lion). Funds were used mainly to replace and increase assets as follows: , million
was invested in property, plant and equipment and million in intangible assets
excluding goodwill. Investments in property, plant and equipment related primarily to
advance payments and assets under development ( million), transport equipment
( million), technical equipment and machinery ( million), aircra ( mil-
lion) and equipment ( million).
Note
. Capex by region
m
Germany
979
1,057
Americas
259
203
Europe (excluding Germany)
259
248
Asia Pacific
160
152
Other regions
40
56
Deutsche Post DHL Annual Report
44