The following tables provide a reconciliation of the total results of operations and total assets of the Group's business segments under management reporting systems to the consolidated financial statements prepared in accordance with U.S. GAAP for the years ended December 31, 2003, 2002 and 2001.
| 2003 | 2002 | 2001 | |||||||
| in € m. | Total | Consoli- | Total | Total | Consoli- | Total | Total | Consoli- | Total |
| Manage- | dation & | Consoli- | Manage- | dation & | Consoli- | Manage- | dation & | Consoli- | |
| ment | Adjust- | dated | ment | Adjust- | dated | ment | Adjust- | dated | |
| Reporting | ments | Reporting | ments | Reporting | ments | ||||
| Net revenues1 | 21,490 | (222) | 21,268 | 26,295 | 252 | 26,547 | 29,892 | (351) | 29,541 |
| Provision for loan losses | 1,113 | – | 1,113 | 2,091 | – | 2,091 | 1,015 | 9 | 1,024 |
| Provision for off-balance sheet positions | (50) | – | (50) | 18 | (1) | 17 | (26) | (4) | (30) |
| Total provision for credit losses | 1,063 | 2,110 | 988 | ||||||
| Noninterest expenses2 | 17,442 | 7 | 17,449 | 20,632 | 258 | 20,890 | 26,593 | 150 | 26,744 |
| Income (loss) before income taxes3 | 2,984 | (228) | 2,756 | 3,553 | (4) | 3,549 | 2,310 | (507) | 1,803 |
| Total assets | 795,818 | 7,796 | 803,614 | 750,238 | 8,117 | 758,355 | 898,046 | 20,176 | 918,222 |
| Risk-weighted positions | 214,048 | 1,625 | 215,672 | 233,870 | 3,609 | 237,479 | 300,612 | 4,468 | 305,079 |
| ( BIS risk positions) | |||||||||
| Average active equity | 27,338 | 48 | 27,386 | 31,243 | 2 | 31,245 | 30,778 | – | 30,778 |
| 1 | Net interest revenues and noninterest revenues. |
| 2 | Excludes provision for off-balance sheet positions (reclassified to provision for credit losses). |
| 3 | Before cumulative effect of accounting changes. |
The two primary components recorded in Consolidation & Adjustments are differences in accounting methods used for management reporting versus U.S. GAAP as well as results and balances from activities outside the management responsibility of the business segments.
Loss before income taxes was € 228 million in 2003, € 4 million in 2002 and € 507 million in 2001.
Net revenues included the following items:- Adjustments related to positions which are marked to market for management reporting purposes and accounted for on an accrual basis under U.S. GAAP were approximately € (200) million in 2003, € 100 million in 2002 and € (200) million in 2001.
- Trading results from the Group’s own shares are reflected in the Corporate Banking & Securities Corporate Division. The elimination of such results under U.S. GAAP resulted in credits of approximately € 200 million in each of the years 2003 and 2002 within Consolidation & Adjustments.
- Debits related to the elimination of Group-internal rental income were € (106) million in 2003, € (115) million in 2002 and € (122) million in 2001.
- Insurance premiums of € 79 million in each of the years 2003 and 2002 and of € 39 million in 2001 were primarily related to the Group’s re-insurance subsidiary which is not managed by an individual business segment.
- Mark-to-market losses for hedges related to share-based compensation plans were approximately € (100) million in 2002 and € (300) million in 2001.
- The remainder of net revenues in each year was due to other corporate items outside the management responsibility of the business segments, such as net funding expenses for non-divisionalized assets/liabilities and results from hedging capital of certain foreign subsidiaries.
Provisions for loan losses and provision for off-balance sheet provisions included no material items in each of the reported year.
Noninterest expenses reflected the following items:- Credits related to the elimination of Group-internal rental expenses were € 106 million in 2003, € 115 million in 2002 and € 122 million in 2001.
- Policyholder benefits and claims of € 89 million in 2003, € 74 million in 2002 and € 56 million in 2001 were primarily related to the Group’s re-insurance subsidiary which is not managed by an individual business segment.
- Credits related to certain share-based compensation plans were approximately € 100 million in each of the years 2002 and 2001 were not allocated to the business segments.
- Buyout costs for the Global Equity Plan amounted to approximately € (100) million in 2001.
- The remainder of noninterest expenses in each year was attributable to other corporate items outside of the management responsibility of the business segments. 2002 included charges for certain legal-related provisions of approximately € 170 million.
Assets and risk-weighted positions reflect corporate assets outside of the management responsibility of the business segments such as deferred tax assets and central clearing accounts.
Average active equity assigned to Consolidation and Adjustments was not material for each of the reported years.