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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 nine months ended September 30, 2006 and the balance sheet as at end of September 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 Sep 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenues

14,080

8

399

23

–

–

–

–

–

51

–

–

–

–

–

9

4

484

14,572

Interest expense

12,217

7

418

–

–

–

–

–

–

16

–

–

–

11

–

–

(1)

443

12,667

Net interest revenues

1,863

1

(19)

23

–

–

–

–

–

35

–

–

–

(11)

–

9

5

41

1,905

Provision for loan losses

101

(101)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenues after provision for loan losses

1,762

(1,762)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

66

9

–

–

–

–

–

(7)

–

–

–

–

–

–

8

–

10

76

Net interest revenues after provision for credit losses

 

1,798

(28)

23

–

–

–

–

7

35

–

–

–

(11)

–

–

5

31

1,829

Commissions and fees from fiduciary activities

917

(917)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

1,045

(1,045)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fees for other customer services

658

(658)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fee income

 

2,540

15

–

–

–

–

2

–

(1)

–

–

–

–

–

–

–

16

2,556

Trading revenues, net

1,537

(1,537)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

1,620

28

–

(97)

(22)

17

(14)

(9)

(24)

–

–

–

(6)

–

1

–

(127)

1,493

Net gains on securities available for sale

173

(173)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets available for sale

 

183

–

–

–

1

–

–

2

–

–

–

–

–

–

–

–

4

187

Net income (loss) from equity method investments

78

(4)

1

–

–

(3)

–

–

–

1

–

–

–

–

–

–

–

(2)

72

Other revenues

120

(11)

11

17

–

–

2

–

(4)

3

(4)

–

–

–

–

22

–

47

156

Total noninterest revenues

4,528

(3)

56

17

(97)

(24)

19

(12)

(10)

(21)

(4)

–

–

(6)

(1)

23

–

(61)

4,464

Compensation and benefits

2,801

–

–

41

–

–

–

–

–

–

–

(75)

(17)

–

–

–

–

(53)

2,748

Net occupancy expense of premises

251

(251)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furniture and equipment

37

(37)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IT costs

382

(382)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency and other professional service fees

261

(261)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communication and data services

154

(154)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

606

(606)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

1,716

14

–

–

–

–

–

–

–

3

–

–

–

–

9

–

29

1,745

Impairment of intangible assets

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Restructuring activities

18

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

18

Total noninterest expenses

4,510

25

14

41

–

–

–

–

–

–

3

(75)

(17)

–

–

9

–

(24)

4,511

Income before income tax expense

1,780

7

13

(1)

(97)

(24)

19

(12)

(3)

14

(7)

75

17

(17)

(1)

14

5

(5)

1,782

Income tax expense

545

–

2

 

 

 

 

 

 

 

 

 

 

 

 

 

(11)

(9)

536

Reversal of 1999/2000 credits for tax rate changes

(1)

–

–

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

–

Cumulative effect of accounting changes, net of tax

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Net income

1,236

7

11

 

 

 

 

 

 

 

 

 

 

 

 

 

15

3

1,246

Net income attributable to minority interest

–

7

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

7

Net income attributable to Deutsche Bank’s shareholders

1,236

–

11

(1)

(97)

(24)

19

(12)

(3)

14

(7)

75

17

(17)

(1)

14

15

3

1,239

[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)

Nine months ended Sep 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest revenues

42,058

23

1,112

67

–

3

–

–

–

84

–

–

–

–

–

25

31

1,321

43,402

Interest expense

36,721

88

1,120

–

–

–

–

–

–

46

–

–

–

27

–

–

4

1,197

38,006

Net interest revenues

5,337

(65)

(8)

67

–

3

–

–

–

38

–

–

–

(27)

–

25

27

124

5,396

Provision for loan losses

206

(206)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest revenues after provision for loan losses

5,131

(5,131)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

143

9

–

(1)

–

–

–

(9)

–

–

–

–

–

–

25

–

25

168

Net interest revenues after provision for credit losses

 

5,129

(18)

67

1

3

–

–

9

38

–

–

–

(27)

–

–

27

99

5,228

Commissions and fees from fiduciary activities

2,888

(2,888)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

3,620

(3,620)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fees for other customer services

1,945

(1,945)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fee income

 

8,213

25

–

–

–

–

13

–

(3)

–

–

–

–

–

–

–

35

8,248

Trading revenues, net

6,224

(6,224)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

6,705

29

–

(12)

(23)

24

(11)

(8)

(33)

–

–

–

(59)

–

(4)

–

(96)

6,609

Net gains on securities available for sale

340

(340)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gain (loss) on financial assets available for sale

 

402

1

–

–

1

(1)

–

5

–

–

–

–

–

–

–

–

7

409

Net income (loss) from equity method investments

400

(5)

(15)

–

–

(14)

–

–

–

1

–

–

–

–

2

3

–

(22)

373

Other revenues

428

(236)

42

26

1

–

3

–

(17)

21

(4)

–

–

–

(1)

21

–

91

283

Total noninterest revenues

15,845

62

82

26

(11)

(36)

27

2

(19)

(14)

(4)

–

–

(59)

1

20

–

15

15,922

Compensation and benefits

9,513

–

–

117

–

–

–

–

–

–

–

(164)

(52)

–

–

–

–

(99)

9,414

Net occupancy expense of premises

752

(752)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furniture and equipment

117

(117)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IT costs

1,127

(1,127)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency and other professional service fees

830

(830)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communication and data services

465

(465)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

1,802

(1,802)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

5,130

46

1

–

–

–

–

1

–

9

–

–

–

–

8

–

64

5,194

Impairment of intangible assets

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

Restructuring activities

118

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

118

Total noninterest expenses

14,724

36

46

118

–

–

–

–

1

–

9

(164)

(52)

–

–

8

–

(34)

14,726

Income before income tax expense

6,252

24

19

(25)

(10)

(33)

27

2

(11)

24

(13)

164

52

(87)

1

12

27

148

6,424

Income tax expense

2,127

–

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

48

46

2,173

Reversal of 1999/2000 credits for tax rate changes

(1)

–

–

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

–

Cumulative effect of accounting changes, net of tax

46

–

–

–

–

–

–

–

–

–

–

(68)

(8)

–

–

–

30

(46)

–

Net income

4,172

24

20

 

 

 

 

 

 

 

 

 

 

 

 

 

8

55

4,251

Net income attributable to minority interest

–

24

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

24

Net income attributable to Deutsche Bank’s shareholders

4,172

–

20

(25)

(10)

(33)

27

2

(11)

24

(13)

96

44

(87)

1

12

8

55

4,227

[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 Sep 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

6,062

–

–

18

–

–

–

–

–

–

–

–

–

–

–

–

–

–

18

6,080

Interest-earning deposits with banks

19,786

–

–

(411)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

(410)

19,376

Central bank funds sold and securities purchased under resale agreements

136,225

32,904

(158,371)

–

–

–

–

–

–

–

279

–

–

–

–

–

–

–

279

11,037

Securities borrowed

117,787

18,367

(64,862)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

71,292

Trading assets

483,060

 

(483,060)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets at fair value through profit or loss

 

299,031

742,588

17,115

–

(87)

(23)

3

32

(2)

1,257

–

–

–

(229)

–

7

–

18,074

1,059,693

Securities available for sale

23,323

 

(23,323)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets available for sale

 

–

26,681

11,750

–

–

93

–

–

215

–

–

–

–

–

–

–

–

12,057

38,738

Other investments

4,830

 

(4,830)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity method investments

 

–

3,173

(63)

–

–

2

–

–

–

–

–

–

–

–

–

–

–

(61)

3,112

Loans

177,402

–

(6,289)

15,177

(287)

–

–

–

1

1

1,461

–

–

–

–

–

1

(40)

16,314

187,427

Premises and equipment

4,207

(68)

(1,005)

44

–

–

–

–

–

–

–

–

–

–

–

–

–

–

44

3,178

Goodwill

6,758

 

(6,758)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other intangible assets, net

1,127

 

(1,127)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

–

8,045

1

–

–

–

–

–

–

–

–

–

–

–

–

–

–

1

8,046

Other assets

115,979

113,129

(35,954)

(252)

(11)

–

–

3

–

–

(557)

(78)

–

(826)

–

–

–

–

(1,722)

191,432

Income tax assets

 

–

5,092

118

–

–

–

–

–

–

–

–

–

–

–

–

–

864

983

6,075

Total assets

1,096,546

463,364

–

43,498

(298)

(87)

72

6

33

214

2,439

(78)

–

(826)

(229)

–

8

824

45,576

1,605,486

Deposits

375,695

–

(1,633)

(1,099)

–

–

–

–

–

–

5,593

–

–

–

–

–

–

–

4,494

378,556

Central bank funds purchased and securities sold under repurchase agreements

192,739

51,271

(140,734)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

1

103,277

Securities loaned

12,876

–

(477)

–

–

–

–

–

–

–

(616)

–

–

–

–

–

–

–

(617)

11,782

Trading liabilities

230,876

 

(230,876)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities at fair value through profit or loss

 

299,249

384,523

64

–

209

–

6

–

–

(1,448)

–

–

–

(193)

–

–

–

(1,362)

682,410

Other short-term borrowings

29,485

–

5

28,983

–

–

–

–

–

–

(102)

–

–

–

–

–

–

–

28,880

58,370

Other liabilities

93,631

112,843

(10,147)

639

(14)

2

–

–

(14)

–

331

(127)

40

146

–

–

(9)

1

998

197,325

Provisions

 

–

1,795

11

–

(2)

–

–

–

(4)

–

–

–

–

–

–

–

–

5

1,800

Income tax liabilities

 

–

6,993

186

–

–

–

–

–

–

–

–

–

–

–

–

–

(361)

(176)

6,817

Long-term debt

126,788

–

(9,532)

9,713

–

–

–

–

–

–

(1,305)

–

–

–

–

–

–

–

8,409

125,665

Trust preferred securities

–

–

(659)

5,051

–

–

–

–

–

–

–

–

–

–

–

–

–

–

5,050

4,391

Obligation to purchase common shares

3,406

–

–

–

–

–

–

–

–

–

–

–

–

–

1,268

–

–

–

1,267

4,673

Total liabilities

1,065,496

463,364

(742)

43,548

(14)

209

–

6

(14)

(4)

2,454

(127)

40

146

1,074

–

(9)

(361)

46,948

1,575,066

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

1,335

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

1,335

Additional paid-in capital

14,009

–

–

–

–

–

–

–

–

–

–

–

408

–

(45)

–

–

401

763

14,772

Retained earnings

23,233

–

–

(94)

(285)

(308)

(21)

(1)

49

(21)

(15)

48

(448)

(984)

(18)

(1,366)

17

(1,281)

(4,728)

18,505

Common shares in treasury, at cost

(2,205)

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

(2,205)

Equity classified as obligation to purchase common shares

(3,406)

–

–

–

–

–

–

–

–

–

–

–

–

–

(1,240)

–

–

–

(1,240)

(4,646)

Accumulated other comprehensive income (loss)

(1,916)

 

1,916

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

–

(1,917)

44

–

11

93

1

(1)

239

–

–

–

12

–

1,366

–

2,066

3,833

1,916

Total shareholders’ equity

31,050

–

(1)

(50)

(285)

(296)

72

–

47

218

(14)

48

(40)

(971)

(1,304)

–

17

1,185

(1,372)

29,677

Minority interest

–

–

743

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

–

743

Total equity

31,050

–

742

(50)

(285)

(296)

72

–

47

218

(14)

48

(40)

(971)

(1,304)

–

17

1,185

(1,372)

30,420

Total liabilities and equity

1,096,546

463,364

–

43,498

(298)

(87)

72

6

33

214

2,439

(78)

–

(826)

(229)

–

8

824

45,576

1,605,486