DHL 2013 Annual Report Download - page 148

Disposal and deconsolidation effects in 
 
e sales of the Express Couriers Limited , New Zealand,
and Parcel Direct Group Pty Limited , Australia, joint ven-
tures closed at the end of June . e buyer was the former joint
venture partner, New Zealand Post.
 ,  
 Global Forwarding & Co.  ( Oman), Oman, was
deconsolidated in the rst quarter of , as the reasons for con-
solidation no longer existed. e company has been accounted for
using the equity method since February .
Disposal and deconsolidation effects, 
 m
 Oman ,  Total1 January to 31 December
Non-current assets 0 38 38
Current assets 8 19 27
Assets held for sale 1 0 0 0
Cash and cash equivalents 1 9 10
 9 66 75
Non-current liabilities and provisions 0 24 24
Current liabilities and provisions 6 41 47
Liabilities associated with assets held for sale 1 0 0 0
   6 65 71
Net assets 314
Total consideration received 1 2 49 50
Losses (–) from the currency translation reserve 0–4 –4
Non-controlling interests 2 0 2
Deconsolidation gain (+) 0 44 44
1 Data before deconsolidation.
2 Fair value of existing investment.
Gains are shown under other operating income; losses are
reported under other operating expenses.
Joint ventures
e following table provides information about the balance
sheet and income statement items attributable to joint ventures:
At  December
 m
2012 1 2013 1
 
Intangible assets 0 0
Property, plant and equipment 14 13
Receivables and other assets 68 77
Cash and cash equivalents 9 8
Trade payables, other liabilities 40 38
Provisions 32 44
Financial liabilities 2 2
 
Revenue 2 120 118
Profit from operating activities  9 8
1 Proportionate single-entity financial statement data.
2 Revenue excluding intra-group revenue.
e consolidated joint ventures are AeroLogic GmbH,
Germany,  Logistics, Canada, Bahwan Exel , Oman, and
Danzas  , Russia.
Additional information on the size of the shareholdings can
be found in the list of shareholdings, which can be accessed on the
website, www.dpdhl.com/en/investors.html.
 Significant transactions
Issuance of bonds
Deutsche Post DHL took advantage of favourable market
conditions to place two conventional bonds amounting to  bil-
lion with national and international investors. e issue date was
 October . e capital raised will be used to repay a ten-year
bond maturing in January . e rst issue in the amount of
 million has a maturity of ve years and an annual coupon of
. . e second  million issue has a maturity of ten years and
an annual coupon of . ; Note .
At the end of September , the ve-year credit facility
with a total volume of  billion taken out with a consortium of
national and international banks in  was renewed early until
 at more favourable terms. In addition, two one-year extension
options were also agreed.
Income from changes to retirement plans
e dened benet retirement plans in the  were changed
to dened contribution plans in the fourth quarter of . is
generated income of  million, which is recognised in sta costs.
Further details can be found in Note .
144 Deutsche Post DHL 2013 Annual Report
Notes
Basis of preparation
Consolidated Financial Statements