All goodwill has been allocated to reporting units. From the beginning of 2003, the Group revised its management reporting systems to reflect changes in the organizational structure of its divisions and to reflect changes in management responsibility for certain businesses as described in Note [28]. The prior period goodwill amounts have been restated to conform to the current year’s presentation. The changes in the carrying amount of goodwill by segment for the years ended December 31, 2003 and 2002 are as follows:
| in € m. | Corporate | Global | Asset and | Private & | Corporate | Total |
| Banking & | Transaction | Wealth | Business | Investments | ||
| Securities | Banking | Management | Clients | |||
| Balance as of January 1, 2002 | 4,350 | 725 | 2,184 | 247 | 1,235 | 8,741 |
| Purchase accounting adjustments | (6) | – | (27) | (3) | – | (36) |
| Goodwill acquired during the year | 34 | 8 | 1,460 | 15 | 44 | 1,561 |
| Impairment losses | – | – | – | – | (62) | (62) |
| Goodwill related to dispositions | (13) | – | – | (13) | (525) | (551) |
| Effects from exchange rate fluctuations | (634) | (98) | (452) | – | (97) | (1,281) |
| Balance as of December 31, 2002 | 3,731 | 635 | 3,165 | 246 | 595 | 8,372 |
| Purchase accounting adjustments | – | – | 14 | – | – | 14 |
| Goodwill acquired during the year | 2 | 1 | 112 | 4 | – | 119 |
| Impairment losses | – | – | – | – | (114) | (114) |
| Goodwill related to dispositions | – | (133) | (51) | – | (382) | (566) |
| Effects from exchange rate fluctuations | (572) | (75) | (417) | (16) | (10) | (1,090) |
| Balance as of December 31, 2003 | 3,161 | 428 | 2,823 | 234 | 89 | 6,735 |
The additions to goodwill of € 119 million for the year ended December 31, 2003 are mainly due to the acquisition of Rued, Blass & Cie AG Bankgeschaeft, which contributed € 59 million.
The additions to goodwill of € 1,561 million for the year ended December 31, 2002 are mainly due to the acquisitions of Scudder and RREEF, which contributed € 1,024 million and € 344 million, respectively.