PDF Download - Deutsche Bahn AG

50 |
DEUTSCHE BAHN AG
Provisions with a remaining term of more than one year are
discounted using the matching maturity average market rate
of the past seven financial years of the Deutsche Bundesbank.
If an increase in another provision has resulted from the reval­
uation as of January 1, 2010 – where appropriate after netting
with the cover funds – the corresponding cost has been recog­
nized completely in extraordinary expenses. If the revaluation
as of January 1, 2010 – where appropriate after netting with the
cover funds – has resulted in a reduction in the provision which
will probably be reversed by no later than December 31, 2024,
the option specified in Section 67 (1) Clause 2 EGHGB has not
been utilized and the provision has been reversed accordingly.
The difference was paid directly into retained earnings. Additions
to and reversals of provisions which have taken place after
January 1, 2010 are shown in the result from ordinary activities,
and income and expenses resulting from compounding and
discounting are shown separately in net interest income.
liabilities are shown in their settlement amount.
DB AG has exercised the option set out in Section 274 (1)
Clause 2 HGB and has not capitalized any deferred taxes.
Foreign currency receivables and liabilities, cash at banks
and liabilities due to banks with remaining terms of less than
one year as well as cash in hand in foreign currency are translated
using the spot mid­rate applicable on the balance sheet date.
Assets, liabilities, pending transactions or transactions
which are extremely likely to take place (underlyings) are combined
with derivative financial instruments to form valuation
units in order to compensate for opposite changes in value or
cash flows arising from the occurrence of equivalent risks under
the appropriate conditions. Derivative financial instruments are
only permitted to be used in conjunction with an underlying
(micro hedge).
The derivatives allocated to the underlyings are not shown
in the balance sheet (net hedge presentation method). Accordingly,
Sections 249 (1), 252 (1) Nos. 3 and 4 and 256a HGB are
not applied.
The fair value of financial instruments which are traded on
an active market is derived from the market price applicable on
the balance sheet date.
Standard valuation methods such as option price or present­value
models are used and assumptions which were appropriate on
the basis of market conditions on the balance sheet dates are
made in order to determine the fair value of financial instruments
which are not traded on an active market. If parameters which
are relevant for valuation purposes are not directly observable
on the market, forecasts are used; these are based on equivalent
financial instruments which are traded on an active market and
to which mark­ups or mark­downs are applied on the basis of
historical data. The mean figure from the bid and offer price is
used.
The activity of the assigned civil servants in DB Group is
based on a statutory assignment under the terms of the Rail
Restructuring Act (Eisenbahnneuordnungsgesetz; ENeuOG),
Art. 2 Section 12. For the work of the assigned civil servants,
DB AG reimburses to the Federal Railroad Fund (Bundeseisenbahnvermögen;
BEV) those costs which would be incurred if a
person subject to collective bargaining agreements were to be
employed as an employee instead of the assigned civil servants
(pro forma settlement). Consequently, the personnel expenses
reimbursed to the BEV for the assigned civil servants are shown
under personnel expenses due to the economic approach.
Contrary to the structure of the income statement prescribed
in Section 275 (2) HGB, the other taxes are not shown under the
specified item no. 19 because the taxes involved relate to costs.
These are shown under other operating expenses.
notes to the Balance sheet
(2) Fixed assets
A fixed asset schedule is shown on pages 46 – 47.
(3) Inventories
[ € million ] Dec 31, 2010 dec 31, 2009
raw materials and manufacturing
supplies 0 0
unfinished products, work in progress 3 5
total 3 5