Deutsche Post Annual Report 2008 - Restatements of prior-period amounts

5 Restatements of prior-period amounts

In accordance with IAS 1.35, the effects of foreign currency hedging are reported under net finance costs/net financial income on a net basis, as this better reflects the economic substance of the transactions.

Clarity of the cash flow statement was improved. Further information can be found in
Note 50. The prior-year figures were restated accordingly.

The method of reporting income tax provisions and income tax liabilities was also changed. They are now shown on a combined basis as income tax obligations. The prior-year figures were restated accordingly.

During financial year 2008, Deutsche Postbank Group changed its method of measuring building finance loans reported at fair value by introducing additional measurement parameters. This resulted in an optimisation of the procedure for calculating fair value. The retrospective adjustments to net profit required led to changes in loans and advances to customers, deferred taxes and retained earnings.

Restatements of prior-year figures
€m
	2007	Adjustments	2007 restated
Restatement of Deutsche Postbank Group figures
Deferred tax assets	1,020	+20	1,040
Receivables and other securities from financial services (loans and advances to customers)	193,986	–66	193,920
Retained earnings	8,976	–23	8,953
Minority interest	2,801	–23	2,778
Profit/loss from discontinued operations
Consolidated net profit for the period	1,885	–12	1,873
of which attributable to Deutsche Post AG shareholders	1,389	–6	1,383
of which attributable to minorities	496	–6	490
Reclassifications
Income tax provisions	334	–334	0
Income tax liabilities	139	–139	0
Income tax obligations	–	+473	473

In keeping with the presentation of the Deutsche Postbank Group as a discontinued operation in accordance with IFRS 5, all amounts in the income statement relating to Deutsche Postbank Group, both for the year under review and for the previous year, were reclassified and reported under profit/loss from discontinued operations. Further details can be found in Note 21.