- About Us
- Group Management Report
- Corporate Governance
- Consolidated Financial Statements
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet
- Cash flow statement
- Statement of Changes in Equity
- Segment reporting
- Notes
- Basis of preparation
- Income Statement Disclosures
- Balance Sheet Disclosures
- 26 Intangible assets
- 27 Property, plant and equipment
- 28 Investment property
- 29 Investments in associates
- 30 Non-current financial assets
- 31 Other non-current assets
- 32 Deferred taxes
- 33 Inventories
- 34 Income tax assets and liabilities
- 35 Receivables and other current assets
- 36 Current financial assets
- 37 Cash and cash equivalents
- 38 Assets held for sale and liabilities associated with assets held for sale
- 39 Issued capital
- 40 Other reserves
- 41 Retained earnings
- 42 Equity attributable to Deutsche Post AG shareholders
- 43 Minority interest
- 44 Provisions for pensions and other employee benefits
- 45 Other provisions
- 46 Financial liabilities
- 47 Other liabilities
- 48 Trade payables
- Cash Flow Disclosures
- Other Disclosures
- Responsibility Statement
- Auditors’ Report
46.3 Finance lease liabilities
Finance lease liabilities mainly relate to the following items:
| €m | ||||||
| Leasing partner | Interest rate | End of term | Asset | 2008 | 2009 | |
| DHL Aviation (Netherlands) B.V., Netherlands | Barclays Mercantile Business Financing Limited, London |
3.745% | 2027/2028 | 16 aircraft | 289 | 34 |
| Deutsche Post Immobilien GmbH, Germany | Lorac Investment Management SARL |
6% | 2016 | Real estate | 17 | 15 |
| DHL Express (US) Inc., USA | Wachovia Financial Services; Wells Fargo |
6.739% | 2019/2022 | Sorting system software | 37 | 35 |
| SCM Supply Chain Management Inc., Canada | Bank of Nova Scotia | 1.35 –1.55% | 2012/2013 | Warehouse, office equipment | 51 | 41 |
| Deutsche Post AG, Germany | T-Systems Enterprise Services GmbH, Germany | 5% | 2011 | IT equipment | 13 | 19 |
The liabilities of DHL Aviation were settled prematurely in financial year 2009. The leased assets are recognised in property, plant and equipment at carrying amounts of €521 million (previous year: €592 million). The difference between the carrying amounts of the assets and the liabilities results from longer economic useful lives of the assets compared with a shorter repayment period for the rental. The notional amount of the minimum lease payments totals €319 million (previous year: €869 million).
| Maturity structure | ||||
| €m | ||||
| Present value (finance lease liabilities) | Minimum lease payments notional amount | |||
| 2008 | 2009 | 2008 | 2009 | |
| Less than 1 year | 32 | 28 | 34 | 29 |
| 1 to 5 years | 137 | 155 | 168 | 180 |
| More than 5 years | 362 | 86 | 667 | 110 |
| Total | 531 | 269 | 869 | 319 |
46.4 Financial liabilities recognised at fair value through profit or loss
The amounts recognised in this account relate to the negative fair values of derivative instruments:
| €m | |||
| 1 Jan. 2008 adjusted1) |
2008 adjusted1) |
2009 | |
| Financial liabilities recognised at fair value through profit or loss | 157 | 652 | 141 |
| 1) | Prior-period amount adjusted, see  Note 5. |
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Further details on the changes can be found in Note 50.
46.5 Other financial liabilities
| €m | ||||
| 1 Jan. 2008 adjusted1) |
2008 adjusted1) |
2009 | ||
| Mandatory exchangeable bond (with accrued interest) | Deutsche Post AG |
0 | 0 | 2,670 |
| Other liabilities related to the sale of Deutsche Postbank shares | Deutsche Post AG |
0 | 0 | 1,320 |
| Loan notes due to Exel’s existing shareholders | Deutsche Post AG |
126 | 77 | 61 |
| Subordinated debt | Deutsche Postbank Group |
5,603 | 0 | 0 |
| Miscellaneous financial liabilities | Other Group companies | 1,018 | 331 | 405 |
| Other financial liabilities | 6,747 | 408 | 4,456 | |
| 1) | Prior-period amount adjusted, see Note 5. |
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The increase in other financial liabilities mainly results from the sale of Deutsche Postbank shares. Financial liabilities consist of a mandatory exchangeable bond on 60 million Postbank shares, cash collateral on the purchase of another 26 million Postbank shares and a payment on settled hedging transactions signed to hedge Deutsche Bank shares, see Note 2.
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