Deutsche Bank Annual Report 2003

Income Statement
in € m.	[Notes]	2003	2002	2001
Interest revenues	[23], [31]	27,583	35,781	53,639
Interest expense	[23], [31]	21,736	28,595	45,019
Net interest revenues		5,847	7,186	8,620
Provision for loan losses	[6], [7], [8]	1,113	2,091	1,024
Net interest revenues after provision for loan losses		4,734	5,095	7,596
Commissions and fees from fiduciary activities		3,273	3,926	3,537
Commissions, broker 's fees, markups on securities underwriting and other securities activities		3,564	4,319	4,557
Fees for other customer services		2,495	2,589	2,633
Insurance premiums		112	744	2,717
Trading revenues , net	[31]	5,611	4,024	6,031
Net gains on securities available for sale	[5]	20	3,523	1,516
Net loss from equity method investments	[6]	(422)	(887)	(365)
Other revenues	[6], [13], [31]	768	1,123	295
Total noninterest revenues		15,421	19,361	20,921
Compensation and benefits	[20], [25], [31]	10,495	11,358	13,360
Net occupancy expense of premises		1,251	1,291	1,334
Furniture and equipment		193	230	357
IT costs		1,913	2,188	2,343
Agency and other professional service fees		724	761	1,080
Communication and data services		626	792	891
Policyholder benefits and claims		110	759	3,002
Other expenses		2,002	2,883	3,182
Goodwill impairment/amortization	[12]	114	62	871
Restructuring activities	[29]	(29)	583	294
Total noninterest expenses		17,399	20,907	26,714
Income before income tax expense and cumulative effect of accounting changes		2,756	3,549	1,803
Income tax expense	[26]	1,327	372	434
Reversal of 1999/2000 credits for tax rate changes	[26]	215	2,817	995
Income before cumulative effect of accounting changes, net of tax		1,214	360	374
Cumulative effect of accounting changes, net of tax	[2]	151	37	(207)
Net income		1,365	397	167

Earnings per Share Figures
in €	[Notes]	2003	2002	2001
Earnings per common share	[2], [12], [20], [27]
Basic
Income before cumulative effect of accounting changes, net of tax		2.17	0.58	0.60
Cumulative effect of accounting changes, net of tax		0.27	0.06	(0.33)
Net income		2.44	0.64	0.27
Diluted
Income before cumulative effect of accounting changes, net of tax		2.06	0.57	0.60
Cumulative effect of accounting changes, net of tax		0.25	0.06	(0.33)
Net income		2.31	0.63	0.27
Cash dividends declared per common share		1.30	1.30	1.30

Consolidated Income Statement

The accompanying notes are an integral part of the Consolidated Financial Statements.