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Income Statement and Balance Sheet Reconciliations

The tables below show reconciliations from U.S. GAAP to IFRS for the income statements for the three and six months ended June 30, 2006 and the balance sheet as at end of June 2006. For reconciliations of further comparative periods please refer to the Transition Report which was published on April 19, 2007.

U.S. GAAP/IFRS RECONCILIATIONS

[Enlarge table]

Consolidated Statement of Income

U.S. GAAP

Re-
classi-
fication

Revaluation by accounting topic

IFRS

 

Consolida-
tion

Loan
origination
costs

Fair value option

Equity method invest-
ments

Definition of a derivative

Loans
held for
sale re-
classified
to trading

Financial assets available for sale

Financial asset derecogni-
tion

Real
estate &
leasing

Share-based compen-
sation

Pensions

Deriva-
tives on Deutsche Bank shares

Currency transla-
tion adjust-
ments

Other

Tax

Total revalu-
ation

in € m.

 

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

(I)

(J)

(K)

(L)

(M)

(N)

(O)

Three months ended Jun 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenues

15,493

10

308

22

–

–

–

–

–

22

–

–

–

–

–

9

6

367

15,870

Interest expense

13,623

69

290

–

–

–

(1)

–

–

23

–

–

–

7

–

–

5

325

14,017

Net interest revenues

1,870

(59)

18

22

–

–

1

–

–

(1)

–

–

–

(7)

–

9

1

42

1,853

Provision for loan losses

95

(95)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenues after provision for loan losses

1,775

(1,775)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

75

2

–

–

–

–

–

(4)

–

–

–

–

–

–

10

–

7

82

Net interest revenues after provision for credit losses

 

1,736

16

22

–

–

1

–

4

(1)

–

–

–

(7)

–

(1)

1

35

1,771

Commissions and fees from fiduciary activities

1,034

(1,034)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions, broker’s fees, markups on securities underwriting and other securities activities

1,289

(1,289)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fees for other customer services

630

(630)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fee income

 

2,848

31

–

–

–

–

(1)

–

(2)

–

–

–

–

–

–

–

28

2,876

Trading revenues, net

1,717

(1,717)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets/liabilities at fair value through profit or loss

 

1,970

(18)

–

69

(1)

16

15

(6)

15

–

–

–

(10)

–

(7)

–

74

2,044

Net gains on securities available for sale

125

(125)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets available for sale

 

135

1

–

–

–

(1)

–

2

–

–

–

–

–

–

–

–

2

137

Net income (loss) from equity method investments

51

–

(14)

–

–

(5)

–

–

–

(1)

–

–

–

–

1

–

–

(19)

32

Other revenues

84

(102)

6

7

–

–

1

–

11

(11)

–

–

–

–

(1)

(2)

–

12

(6)

Total noninterest revenues

4,930

56

6

7

69

(5)

17

14

7

2

–

–

–

(10)

–

(8)

–

97

5,083

Compensation and benefits

3,088

–

–

36

–

–

–

–

–

–

–

(62)

(18)

–

–

–

–

(45)

3,043

Net occupancy expense of premises

250

(250)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furniture and equipment

38

(38)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IT costs

371

(371)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency and other professional service fees

298

(298)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communication and data services

153

(153)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

583

(583)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

1,707

13

–

–

–

–

–

1

(11)

3

–

–

–

–

(1)

–

5

1,712

Impairment of intangible assets

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Restructuring activities

57

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

57

Total noninterest expenses

4,838

12

13

36

–

–

–

–

1

(11)

3

(62)

(18)

–

–

(1)

–

(38)

4,812

Income before income tax expense

1,867

4

8

(7)

69

(5)

17

14

11

11

(3)

62

18

(18)

–

(8)

1

171

2,042

Income tax expense

641

–

(9)

 

 

 

 

 

 

 

 

 

 

 

 

 

54

45

686

Reversal of 1999/2000 credits for tax rate changes

–

–

–

 

 

 

 

 

 

 

 

 

 

 

 

 

–

 

–

Cumulative effect of accounting changes, net of tax

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Net income

1,226

4

17

 

 

 

 

 

 

 

 

 

 

 

 

 

(54)

126

1,356

Net income attributable to minority interest

–

4

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

4

Net income attributable to Deutsche Bank’s shareholders

1,226

–

17

(7)

69

(5)

17

14

11

11

(3)

62

18

(18)

–

(8)

(54)

126

1,352

[Enlarge table]

Consolidated Statement of Income

U.S. GAAP

Re-
classi-
fication

Revaluation by accounting topic

IFRS

 

Consolida-
tion

Loan
origination
costs

Fair value option

Equity method invest-
ments

Definition of a derivative

Loans
held for
sale re-
classified
to trading

Financial assets available for sale

Financial asset derecogni-
tion

Real
estate &
leasing

Share-based compen-
sation

Pensions

Deriva-
tives on Deutsche Bank shares

Currency transla-
tion adjust-
ments

Other

Tax

Total revalu-
ation

in € m.

 

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

(I)

(J)

(K)

(L)

(M)

(N)

(O)

Six months ended Jun 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenues

27,978

15

713

45

–

3

–

–

–

33

–

–

–

–

–

16

27

837

28,830

Interest expense

24,504

81

702

–

–

–

–

–

–

30

–

–

–

16

–

–

5

754

25,339

Net interest revenues

3,474

(66)

11

45

–

3

–

–

–

3

–

–

–

(16)

–

16

22

83

3,491

Provision for loan losses

105

(105)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenues after provision for loan losses

3,369

(3,369)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

76

–

–

(1)

–

–

–

(2)

–

–

–

–

–

–

17

–

15

91

Net interest revenues after provision for credit losses

 

3,332

11

45

1

3

–

–

2

3

–

–

–

(16)

–

(1)

22

68

3,400

Commissions and fees from fiduciary activities

1,972

(1,972)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions, broker’s fees, markups on securities underwriting and other securities activities

2,575

(2,575)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fees for other customer services

1,287

(1,287)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fee income

 

5,674

9

–

–

–

–

11

–

(2)

–

–

–

–

–

–

–

18

5,692

Trading revenues, net

4,688

(4,688)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets/liabilities at fair value through profit or loss

 

5,086

1

–

85

(1)

7

3

1

(9)

–

–

–

(53)

–

(5)

–

30

5,116

Net gains on securities available for sale

167

(167)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets available for sale

 

219

1

–

–

–

(1)

–

3

–

–

–

–

–

–

–

–

3

222

Net income (loss) from equity method investments

322

(1)

(15)

–

–

(11)

–

–

–

–

–

–

–

–

2

3

–

(21)

300

Other revenues

305

(224)

30

9

2

–

1

–

(13)

19

1

–

–

–

(1)

(2)

–

47

128

Total noninterest revenues

11,316

65

27

9

87

(12)

8

14

(9)

8

1

–

–

(53)

1

(3)

–

77

11,458

Compensation and benefits

6,712

–

–

76

–

–

–

–

–

–

–

(88)

(34)

–

–

–

–

(46)

6,666

Net occupancy expense of premises

500

(500)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furniture and equipment

80

(80)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IT costs

744

(744)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency and other professional service fees

569

(569)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communication and data services

311

(311)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

1,198

(1,198)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

3,413

31

1

–

–

–

–

1

–

6

–

–

–

–

(1)

–

37

3,450

Impairment of intangible assets

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Restructuring activities

99

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

99

Total noninterest expenses

10,213

11

31

77

–

–

–

–

1

–

6

(88)

(34)

–

–

(1)

–

(9)

10,215

Income before income tax expense

4,472

17

6

(24)

87

(9)

8

14

(8)

11

(6)

88

34

(70)

1

(3)

22

154

4,643

Income tax expense

1,582

–

(3)

 

 

 

 

 

 

 

 

 

 

 

 

 

59

56

1,638

Reversal of 1999/2000 credits for tax rate changes

–

–

–

 

 

 

 

 

 

 

 

 

 

 

 

 

–

 

–

Cumulative effect of accounting changes, net of tax

46

–

–

–

–

–

–

–

–

–

–

(68)

(8)

–

–

–

30

(46)

–

Net income

2,936

17

9

 

 

 

 

 

 

 

 

 

 

 

 

 

(7)

52

3,005

Net income attributable to minority interest

–

17

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

17

Net income attributable to Deutsche Bank’s shareholders

2,936

–

9

(24)

87

(9)

8

14

(8)

11

(6)

20

27

(70)

1

(3)

(7)

52

2,988

[Enlarge table]

Consolidated Balance Sheet

U.S. GAAP

Gross up

Reclassi-fication

Revaluation by accounting topic

IFRS

 

Consolida-
tion

Loan origination costs

Fair value option

Equity method invest-
ments

Definition of a deriva-
tive

Loans held for sale re-
classified to trading

Financial assets available for sale

Financial asset derecogni-
tion

Real estate & leasing

Share-based compen-
sation

Pensions

Deriva-
tives on Deutsche Bank shares

Currency translation adjust-
ments

Other

Tax

Total revalu-
ation

in € m.

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

(I)

(J)

(K)

(L)

(M)

(N)

(O)

Balance at Jun 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

6,987

–

–

(61)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

(61)

6,926

Interest-earning deposits with banks

17,306

–

–

889

–

–

–

–

–

–

–

–

–

–

–

–

–

–

889

18,195

Central bank funds sold and securities purchased under resale agreements

150,272

32,958

(169,983)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

13,247

Securities borrowed

106,065

23,311

(57,366)

–

–

–

–

 

–

–

–

–

–

–

–

–

–

–

(1)

72,009

Trading assets

455,542

 

(455,542)

 

 

 

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets at fair value through profit or loss

 

325,850

714,973

10,892

–

(34)

–

 

32

11

942

–

–

–

(175)

–

15

–

11,689

1,052,512

Securities available for sale

21,640

 

(21,640)

 

 

 

 

6

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets available for sale

 

–

24,901

10,764

–

–

93

 

–

206

–

–

–

–

–

–

–

–

11,062

35,963

Other investments

4,380

 

(4,380)

 

 

 

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Equity method investments

 

–

3,022

(52)

–

–

4

–

–

–

–

–

–

–

–

–

–

–

(49)

2,973

Loans

163,958

–

(1,714)

13,320

(283)

–

–

–

2

(1)

1,528

–

–

–

–

–

(9)

(44)

14,512

176,756

Premises and equipment

4,791

(68)

(1,814)

39

–

–

–

 

–

–

–

–

–

–

–

1

–

–

40

2,949

Goodwill

6,779

 

(6,779)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other intangible assets, net

1,129

 

(1,129)

 

 

 

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

–

7,991

1

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

7,991

Other assets

119,444

93,466

(35,716)

(240)

(6)

–

–

1

(1)

–

(556)

(74)

–

(835)

–

–

–

–

(1,707)

175,487

Income tax assets

 

–

5,176

151

–

–

–

–

–

–

–

–

–

–

–

–

–

855

1,006

6,182

Total assets

1,058,293

475,516

–

35,703

(289)

(33)

96

7

33

216

1,914

(74)

–

(835)

(175)

1

6

811

37,381

1,571,190

Deposits

367,253

–

(1,217)

(1,208)

–

–

–

–

–

–

4,370

–

–

–

–

–

–

–

3,163

369,199

Central bank funds purchased and securities sold under repurchase agreements

184,282

56,110

(133,694)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

(1)

106,697

Securities loaned

11,191

159

(302)

–

–

–

–

–

–

–

(282)

–

–

–

–

–

–

–

(282)

10,766

Trading liabilities

220,791

 

(220,791)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities at fair value through profit or loss

 

325,282

369,784

108

–

164

–

26

–

–

(1,045)

–

–

–

(167)

–

–

–

(913)

694,153

Other short-term borrowings

28,839

–

19

26,459

–

–

–

–

–

–

(102)

–

–

–

–

–

–

–

26,357

55,215

Other liabilities

91,087

93,966

(10,462)

689

(5)

2

–

1

(27)

–

295

(130)

44

141

–

–

4

–

1,016

175,607

Provisions

 

–

1,825

3

–

(2)

–

–

–

1

–

–

–

–

–

–

–

–

2

1,827

Income tax liabilities

 

–

6,942

157

–

–

–

–

–

–

–

–

–

–

–

–

–

(355)

(198)

6,744

Long-term debt

121,467

–

(12,080)

4,512

–

–

–

–

–

–

(1,294)

–

–

–

(2)

–

–

–

3,215

112,602

Trust preferred securities

–

–

(653)

5,034

–

–

–

–

–

–

–

–

–

–

–

–

–

–

5,034

4,381

Obligation to purchase common shares

4,319

–

–

–

–

–

–

–

–

–

–

–

–

–

1,060

–

–

–

1,060

5,379

Total liabilities

1,029,229

475,516

(629)

35,755

(5)

163

–

27

(27)

1

1,942

(130)

44

141

892

–

4

(355)

38,454

1,542,570

Common shares, no par value, nominal value of € 2.56

1,330

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

1,330

Additional paid-in capital

14,581

–

–

–

–

–

–

–

–

–

–

–

479

–

12

–

–

377

868

15,449

Retained earnings

22,023

–

–

(113)

(284)

(207)

3

(21)

60

(18)

(28)

56

(523)

(988)

(36)

(1,365)

3

(1,303)

(4,765)

17,258

Common shares in treasury, at cost

(2,139)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

(2,139)

Equity classified as obligation to purchase common shares

(4,319)

–

–

–

–

–

–

–

–

–

–

–

–

–

(1,044)

–

–

–

(1,043)

(5,362)

Accumulated other comprehensive income (loss)

(2,412)

 

2,412

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) not recognized in the income statement, net of tax

 

–

(2,414)

61

–

11

93

1

(1)

233

–

–

–

12

–

1,366

–

2,092

3,868

1,454

Total shareholders’ equity

29,064

–

(2)

(52)

(284)

(197)

96

(20)

59

215

(28)

56

(44)

(976)

(1,067)

1

3

1,166

(1,073)

27,990

Minority interest

–

–

630

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

630

Total equity

29,064

–

629

(52)

(284)

(197)

96

(20)

59

215

(28)

56

(44)

(976)

(1,067)

1

3

1,166

(1,073)

28,620

Total liabilities and equity

1,058,293

475,516

–

35,703

(289)

(33)

96

7

33

216

1,914

(74)

–

(835)

(175)

1

6

811

37,381

1,571,190