Annual Report 1997/1998 - Munich Re

Munich Re Group Notes on the accounts
(7) Deferred items 30.6.1998 Previous year
TDM TDM
Accrued interest and rent 3,406,065 2,644,245
Other deferred items 1,159,352 856,051
Total 4,565,417 3,500,296
For loans posted in the balance sheet at their nominal values, the
difference between these nominal values and higher acquisition costs
totals TDM 87,030 (7,162). “Other deferred items” contains an amount
of TDM 999,002 (805,946) for anticipated tax relief in future business
years, in accordance with Articles 274 para. 2 and 306 of the German
Commercial Code.
Notes on the consolidated balance sheet – liabilities
(8) Shareholders’ funds The Group’s shareholders’ funds developed as follows in the
business year 1997/98:
90
TDM
Group’s shareholders’ funds at beginning
of year under review 6,604,244
Changes
– Changes in exchange rates 631,700
– Capital increases 502,511
– Changes in share of capital, changes
in group of consolidated companies 1,232,138
– Earned surplus 1,148,702
– Dividends –151,627
– Other –5,780
Total changes 3,357,644
Group’s shareholders’ funds at end of year
under review 9,961,888
Origin of Group’s shareholders’ funds:
TDM
Amounts paid in by shareholders 4,242,879
Earned surplus 5,719,009
Total 9,961,888