|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
Capital reserve |
2,037 |
2,119 | ||
|
Revaluation reserve in accordance with IAS 39 |
36 |
–251 | ||
|
Hedging reserve in accordance with IAS 39 |
–94 |
–96 | ||
|
Currency translation reserve |
–451 |
–897 | ||
|
Other reserves |
1,528 |
875 | ||
36.1 Capital reserves
|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
Capital reserves as at 1 January |
1,893 |
2,037 | ||
|
Additions |
|
| ||
|
of which exercise of stock options plans |
115 |
68 | ||
|
of which issue of stock option plans |
29 |
14 | ||
|
Capital reserves as at 31 December |
2,037 |
2,119 | ||
The measurement of the 2000 and 2003 Stock Option Plans resulted in staff costs for the stock options in the amount of €14 million in financial year 2007 (previous year: €29 million); this amount was charged to capital reserves. Further details of the stock option plans can be found in Note 35.
36.2 Revaluation reserve in accordance with IAS 39
The revaluation reserve contains gains and losses from changes in the fair values of available-for-sale financial instruments that have been taken directly to equity. This reserve is reversed to income either when the assets are sold or otherwise disposed of, or if the fair value of the assets falls permanently below their cost.
|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
As at 1 January |
220 |
36 | ||
|
Additions (+)/disposals (–) |
–114 |
–439 | ||
|
Transfer to minority interest |
–52 |
0 | ||
|
Deferred taxes recognised directly in equity |
65 |
88 | ||
|
Changes in consolidated group |
0 |
3 | ||
|
Reversed to income |
–83 |
61 | ||
|
Revaluation reserve as at 31 December |
36 |
–251 | ||
In financial year 2007, on the one hand available-for-sale financial instruments in the amount of €61 million (previous year: €–83 million) were reversed to income; on the other the reserve was reduced by €439 million (previous year: €114 million) as a result of the remeasurement of available-for-sale financial instruments. Further details can be found in Note 31. The revaluation reserve relates almost entirely to gains or losses on the fair value remeasurement of financial instruments of the Deutsche Postbank Group.
36.3 Hedging reserve
The hedging reserve is adjusted by the effective portion of a cash flow hedge. The hedging reserve is released to income when the hedged item is settled.
|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
As at 1 January |
–51 |
–94 | ||
|
Additions |
–40 |
–42 | ||
|
Disposals |
–3 |
40 | ||
|
Hedging reserve as at 31 December |
–94 |
–96 | ||
The change in the hedging reserve is mainly the result of the increase in unrealised losses and of hedging future operating foreign currency transactions. In the financial year, unrealised losses of €38 million were taken from the hedging reserve and recognised in operating profit; €2 million were transferred from the hedging reserve to net finance cost/financial income.
36.4 Currency translation reserve
The change is due to the decrease in exchange rates for major foreign currencies.
|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
As at 1 January |
–41 |
–451 | ||
|
Changes not recognised in income |
–410 |
–446 | ||
|
Currency translation reserve as at 31 December |
–451 |
–897 | ||
