DHL 2015 Annual Report Download - page 175

Deutsche Post  Group —  Annual Report
. Disclosures on corporate capital
e equity ratio was .  in nancial year  (previous year:
. ). e company’s capital is monitored using the net gearing
ratio, which is dened as net debt divided by the total of equity and
net debt.
Corporate capital
 m
2014 2015
Total financial liabilities 5,080 5,018
Less cash and cash equivalents –2,978 –3,608
Less current financial assets –351 –179
Less long-term deposits – 60 0
Less non-current derivative financial instruments –192 –138
Net debt 1,499 1,093
Plus total equity 9,580 11,295
Total capital 11,079 12,388
Net gearing ratio () 13.5 8.8
 Capital reserves
An amount of  million was transferred to the capital reserves in
nancial year  (previous year:  million).
 m
2014 2015
At  January 2,269 2,339
Addition / issue of rights under Share Matching
Scheme
 tranche 1 0
 tranche 4 1
 tranche 4 4
 tranche 4 3
 tranche 21 4
 tranche 10 27
 tranche 0 8
Total additions 44 47
Exercise of rights under Share Matching Scheme
 tranche – matching shares –8 0
 tranche – matching shares 0 –20
 tranche – investment and incentive shares –23 0
 tranche – investment and incentive shares 0 –28
Total exercised –31 – 48
Total for Share Matching Scheme 13 –1
Addition / issue of rights under Performance Share
Plan
 tranche 3 8
 tranche 0 2
Total for Performance Share Plan 3 10
Capital increases 54 37
Capital reserves at  December 2,339 2,385
e exercise of the rights to shares under the  and  tranches
reduced the capital reserves by  million (previous year:  mil-
lion for the  and  tranches) due to the issuance of treasury
shares in this amount to the executives.
 Other reserves
 m
2014 2015
  revaluation reserve 0 0
  revaluation reserve 170 67
  hedging reserve –28 – 41
Currency translation reserve – 483 –15
Other reserves –341 11
.   revaluation reserve
e   revaluation reserve included the hidden reserves of 
Logistics Co. Ltd., China, from purchase price allocation. ese
were attributable to the customer relationships contained in the  
interest held previously and to adjustments to deferred taxes.
.   revaluation reserve
e revaluation reserve comprises gains and losses from changes in
the fair value of available-for-sale nancial assets that have been
recognised in other comprehensive income. is reserve is reversed
to prot or loss either when the assets are sold or otherwise disposed
of, or if their value is signicantly or permanently impaired.
 m
2014 2015
At  January 77 190
Currency translation differences 6 8
Comprehensive income
Changes from unrealised gains and losses 107 54
Changes from realised gains and losses 0 –172
  revaluation reserve at  December
beforetax 190 80
Deferred taxes –20 –13
  revaluation reserve at  December
aftertax 170 67
e change resulted from the sale of shares in the King’s Cross com-
panies in the  and in Sinotrans Ltd., China.
165
Consolidated Financial Statements — NOTES — Balance sheet disclosures