| Cash Flow Statement | |||
| in € m. | 2003 | 2002 | 2001 |
| Net income | 1,365 | 397 | 167 |
| Adjustments to reconcile net income to net cash used in operating activities | |||
| Provision for loan losses | 1,113 | 2,091 | 1,024 |
| Restructuring activities | (29) | 583 | 294 |
| Gain on sale of securities available for sale , other investments, | (201) | (4,928) | (2,806) |
| loans and other | |||
| Deferred income taxes, net | 269 | 2,480 | (159) |
| Impairment, depreciation and other amortization and accretion | 3,072 | 2,845 | 4,886 |
| Cumulative effect of accounting changes, net of tax | (151) | (37) | 207 |
| Share of net loss (income) from equity method investments | (42) | 753 | 278 |
| Net change in | |||
| Trading assets | (37,624) | (4,071) | (1,263) |
| Other assets | (7,452) | 8,627 | (9,670) |
| Trading liabilities | 22,719 | 11,412 | (3,022) |
| Other liabilities | 8,095 | (20,639) | (4,559) |
| Other, net | 47 | (296) | 1,412 |
| Net cash used in operating activities | (8,819) | (783) | (13,211) |
| Net change in | |||
| Interest-earning deposits with banks | 11,305 | 7,800 | 9,232 |
| Central bank funds sold and securities purchased under resale | 5,378 | (14,004) | (47,959) |
| agreements | |||
| Securities borrowed | (35,226) | 2,749 | 33,138 |
| Loans | 12,789 | 9,634 | 5,802 |
| Proceeds from | |||
| Sale of securities available for sale | 13,620 | 25,835 | 41,128 |
| Maturities of securities available for sale | 7,511 | 7,731 | 2,746 |
| Sale of other investments | 2,068 | 5,089 | 7,096 |
| Sale of loans | 16,703 | 9,508 | 16,185 |
| Sale of premises and equipment | 2,628 | 717 | 1,015 |
| Purchase of | |||
| Securities available for sale | (19,942) | (22,464) | (34,289) |
| Other investments | (2,141) | (4,474) | (7,976) |
| Loans | (9,030) | (2,364) | (8,903) |
| Premises and equipment | (991) | (1,696) | (3,689) |
| Net cash received (paid) for business combinations/divestitures | 2,469 | (1,110) | 924 |
| Other, net | 327 | 687 | 958 |
| Net cash provided by investing activities | 7,468 | 23,638 | 15,408 |
| Net change in | |||
| Deposits | (21,423) | (41,278) | 22,548 |
| Securities loaned and central bank funds purchased and securities | 17,751 | 7,603 | (16,096) |
| sold under repurchase agreements | |||
| Other short-term borrowings | (4,303) | 274 | (15,151) |
| Issuances of long-term debt and trust preferred securities | 43,191 | 40,245 | 32,958 |
| Repayments and extinguishments of long-term debt and trust preferred securities | (32,366) | (27,201) | (22,884) |
| Issuances of common shares | – | 73 | 320 |
| Purchases of treasury shares | (25,464) | (30,755) | (37,032) |
| Sale of treasury shares | 23,389 | 28,665 | 36,024 |
| Cash dividends paid | (756) | (800) | (801) |
| Other, net | (37) | (455) | (522) |
| Net cash used in financing activities | (18) | (23,629) | (636) |
| Net effect of exchange rate changes on cash and due from banks | (974) | (635) | 325 |
| Net increase (decrease) in cash and due from banks | (2,343) | (1,409) | 1,886 |
| Cash and due from banks, beginning of the year | 8,979 | 10,388 | 8,502 |
| Cash and due from banks, end of the year | 6,636 | 8,979 | 10,388 |
| Interest paid | 22,612 | 31,349 | 48,099 |
| Income taxes paid, net | 911 | 408 | 1,251 |
| Noncash investing activities | |||
| Transfer from available for sale securities to trading assets | – | – | 22,101 |
| Transfer from trading assets to available for sale securities | – | – | 14,938 |
The following information is part of the consolidated financial statements as of 31 December 2003, which were audited and issued with an unqualified certificate by KPMG Deutsche Treuhand AG, Wirtschaftprüfungsgesellschaft.
Consolidated Cash Flow Statement
The accompanying notes are an integral part of the Consolidated Financial Statements.