Annual Report 2001 - Flughafen Wien
Annual Report 2001 - Flughafen Wien
Annual Report 2001 - Flughafen Wien
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<strong>Annual</strong> <strong>Report</strong> <strong>2001</strong><br />
The AVÖ 1999-P life expectancy tables for male and female employees, which are prepared<br />
by F.W. Pagler, form the biometric basis for this calculation. A discount for employee turnover<br />
is included in the calculation, and is based on length of service. Actuarial gains and losses<br />
that exceed or fall below 10% of present value are credited or charged to the income statement<br />
over a period of five years.<br />
Subsidiaries<br />
___To simplify calculations, the provisions for severance compensation and service anniversary<br />
bonuses are based on financial principles and a discount rate of 3.5%. With the exception<br />
of Vienna Airport Handling Gesellschaft m.b.H., neither the Austrian nor foreign subsidiaries<br />
have pension commitments.<br />
Other Provisions<br />
___Other provisions are created in accordance with reasonable business judgment and reflect<br />
the amounts considered necessary to cover future payment obligations, recognizable risks<br />
and uncertain liabilities. These provisions are recorded at the amount, which is considered<br />
most probable after careful examination of the related circumstances.<br />
Liabilities<br />
___Liabilities are stated at nominal value or the higher repayment amount. Foreign currency<br />
liabilities are recorded at the average exchange rate in effect on the balance sheet date.<br />
Realisation of Income<br />
___Income is realized when services are provided or risk is transferred.<br />
Derivative Financing Instruments<br />
___The valuation of primary financing instruments includes any related interest rate and<br />
exchange rate hedges. The Group had no derivative financing instruments as of the balance<br />
sheet date.<br />
Earnings per Share<br />
___Earnings per share for the <strong>Flughafen</strong> <strong>Wien</strong> Group are calculated by dividing profit for the<br />
year, after the deduction of minority interest, by the weighted number of shares outstanding.<br />
Notes to the Consolidated Income Statement<br />
(1) Other operating income<br />
in T€ <strong>2001</strong> 2000<br />
Increase/decrease in services not yet invoiced -310.3 310.3<br />
Own work capitalized 2,879.1 742.4<br />
Income from the disposal and write-up of fixed assets,<br />
excluding financial assets 86.7 64.7<br />
Income from the reversal of provisions 2,300.5 2,329.1<br />
Income from the reversal of investment<br />
subsidies from public funds 1.654,7 1,843.6<br />
Income from rights granted 1,306.4 470.5<br />
Income from insurance 123.3 300.2<br />
Income from the reversal of valuation adjustments 273.6 99.4<br />
Miscellaneous 260.8 763.1<br />
8,574.7 6,923.3<br />
Notes 81
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