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ANNUAl FINANCIAl STATEmENTS
A summary of the financial liabilities and further explanations
are set out in note (14).
(11) Accruals and deferred income
The deferred item mainly comprises revenue deferrals from
leases, building cost grants and compensation payments in
connection with the extension of rental agreements.
(12) Contingencies
[ € million ] Dec 31, 2010 dec 31, 2009
warranty and guarantee obligations 4,477 4,458
thereof due to affiliated
companies 4,455 4,445
DB AG has issued an unconditional and irrevocable guarantee to
DB Finance for a multi­currency commercial paper program with
a maximum volume of € 2 billion issued in conjunction with the
latter; this was stated as € 42 million (previous year: € 0) as of
December 31, 2010. In addition, DB AG has provided a guarantee
to DB Finance for DB mobility logistics AG (DB ml AG) for repayment
of loans totaling € 3,000 million.
It was not necessary for the obligations taken on for the
benefit of affiliated companies in relation to guarantee agreements
with regard to third parties to be recognized because it
is probable that the underlying liabilities can be fulfilled by the
affiliated companies, and a claim is therefore not likely.
(13) Other financial obligations
[ € million ]
Purchase order commitments
Dec 31, 2010 dec 31, 2009
for capital expenditures 3 1
outstanding contributions 376 317
Commitments under rental, leasing
and other external-party liabilities 1,836 1,665
thereof due to affiliated
companies 125 –
total 2,215 1,983
The outstanding contributions relate to EUROFImA.
The obligations arising from rental, leasing and other external
debt arrangements are shown with their nominal amounts. The
two following tables set out a list of nominal and present values
for these obligations (as of December 31, 2010), broken down
according to maturities:
[ € million ]
leasing installments
nominal value Present value
due within 1 year 47 46
due within 1 and 5 years 154 135
due after 5 years 19 15
total 220 196
Overall, leasing installments of € 60 million were paid in financial
year 2010 (previous year: € 60 million).
[ € million ]
rental and other third-party
obligations
nominal value Present value
due within 1 year 207 202
due within 1 and 5 years 615 544
due after 5 years 794 541
total 1,616 1,287
(14) Financial instruments
In its capacity as the Treasury Center of Deutsche Bahn Group
(DB Group), DB AG is responsible for all financing and hedging
transactions. In the procedure organization, there is a clear
functional and organizational segregation between scheduling
and trading on the one hand (front office) as well as settlement
and monitoring on the other (back office). Treasury operates
on the financial markets correspondingly using the minimum
requirements applicable for risk management (mindestanforderungen
an das Risikomanagement; maRisk) of the banks prepared
by the Federal Financial Supervisory Authority (Bundes anstalt
für Finanzdienstleistungsaufsicht; BaFin) and is subject to regular
internal audits.
A. NoN-derivAtive fiNANciAl iNstrumeNts
DB Finance had extended loans totaling € 8,352 million to DB AG
as of December 31, 2010. The loans are refinanced via bond
issues, with a guarantee of DB AG.
In 2010, a bond of DB Finance for € 1,000 million which fell
due as well as the corresponding loan of DB Finance to DB AG
were repaid.
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