DHL 2013 Annual Report Download - page 147

e calculation of goodwill is presented in the following table:
Goodwill, 
 m
Fair value
Contractual consideration 30
Fair value of the existing equity interest 1 25
Total cost 55
Less net assets 24
Difference 31
Less goodwill in accordance with   0
Plus negative goodwill 2
Plus non-controlling interests 2 6
Less goodwill arising from the change in consolidation method 6
Goodwill 33
1 Gain from the change in the method of consolidation is recognised under other operating
income.
2 Non-controlling interests are recognised at their carrying amount.
Purchase price allocation for Tag Belgium  and Lufracht-
sicherheit-Service GmbH resulted in negative goodwill of  mil-
lion, which is reported in other operating income. e negative
goodwill is attributable to the coverage of potential business risks.
e companies have contributed  million to consolidated
revenue and  million to consolidated  since the date of
initial consolidation (amounts for ). If these companies had
been purchased at  January , they would have added  mil-
lion to consolidated revenue and  million to consolidated .
e transaction costs for the insignicant acquisitions
amounted to less than  million and are reported in other oper-
ating expenses.
 million was paid for the companies acquired in nancial
year .  million was paid for companies acquired in previous
years. e purchase price for the companies acquired was paid by
transferring cash funds.
Disposal and deconsolidation effects in 
Gains are shown under other operating income; losses are
reported under other operating expenses.
  
Deutsche Post DHL completed the sale of the fashion logis-
tics business of  Fashion (France) , France, in April .
e assets and liabilities of the business concerned were reclassied
as held for sale in nancial year  in accordance with  .
e most recent measurement of the assets prior to their reclassi-
cation resulted in an impairment loss of  million in , which
was reported in depreciation, amortisation and impairment losses.
In addition,  GmbH Internationale Spedition und Logis-
tik, Germany, was sold together with its subsidiaries in June .
e companies’ assets and liabilities were reclassied as held for
sale in the rst quarter of  in accordance with  . e most
recent measurement of the assets prior to their reclassication did
not indicate any impairment.
e sale of  company Exel Direct Inc. including its Can-
adian branch was completed in May . e company’s assets
and liabilities had been reclassied as held for sale in the rst quar-
ter of  in accordance with  . e most recent measure-
ment of the assets prior to their reclassication did not indicate
any impairment.
 warehousing specialist Llano Logistics Inc. was sold and
deconsolidated in May . Since all of the amounts involved
were lower than  million, they are not shown in the table below.
 
e sale of the Romanian domestic express business of
Cargus International . . . was completed in the rst quarter of
. As at  December , the assets and liabilities of the busi-
ness concerned were reclassied as held for sale in accordance with
 . e most recent measurement of the assets prior to their
reclassication did not indicate any impairment.
e sale of the Domestic Same Day business of  Express
 Limited, , closed at the end of October . e relevant
assets and liabilities had previously been reclassied as held for sale
in accordance with  . e most recent measurement of the
assets and liabilities prior to their reclassication did not indicate
any impairment.
Disposal and deconsolidation effects, 
 m Cargus
International
 Fashion
(France)   Exel Direct  Express  Total1 January to 31 December
Non-current assets 6 0 14 6 1 27
Current assets 3 12 30 14 0 59
Cash and cash equivalents 2 23 4 1 0 30
 11 35 48 21 1 116
Current provisions and liabilities 4 12 38 10 0 64
   4 12 38 10 0 64
Net assets 7 23 10 11 1 52
Total consideration received 19 0 18 24 1 62
Losses from the currency translation reserve 0 0 0 –2 0–2
Deconsolidation gain (+) / loss (–) 12 –23 8 11 0 8
143Deutsche Post DHL 2013 Annual Report
Notes
Basis of preparation
Consolidated Financial Statements