Consolidated Statement of Cash Flows

 (unaudited)

 

Six months ended

in € m.

Jun 30, 2011

Jun 30, 2010

1

The initial acquisition accounting for ABN AMRO, which was finalized at March 31, 2011, resulted in a retrospective adjustment of retained earnings of € (24) million for December 31, 2010. For more information please refer to the section “Business Combinations” of this Interim Report.

2

Included are senior long-term debt issuances of € 5,064 million and € 5,772 million and repayments and extinguishments of € 4,253 million and € 6,706 million through June 30, 2011 and June 30, 2010, respectively.

3

Included are issuances of € 19,940 million and € 20,077 million and repayments and extinguishments of € 25,765 million and € 16,843 million through June 30, 2011 and June 30, 2010, respectively.

 

The announced sale of Deutsche Bank’s headquarters building resulted in a non-cash reclassification of assets from investing to operating activities for the purposes of the Consolidated Statement of Cash Flows of € 592 million.

Net income

3,363

2,943

Cash flows from operating activities:

 

 

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

 

 

Provision for credit losses

837

506

Restructuring activities

Gain on sale of financial assets available for sale, equity method investments, and other

(626)

(113)

Deferred income taxes, net

572

245

Impairment, depreciation and other amortization, and accretion

1,453

971

Share of net income (loss) from equity method investments

(60)

(229)

Income adjusted for noncash charges, credits and other items

5,539

4,323

Adjustments for net change in operating assets and liabilities:

 

 

Interest-earning time deposits with banks

(11,483)

(1,442)

Central bank funds sold, securities purchased under resale agreements, securities borrowed

(2,642)

(4,643)

Trading assets and positive market values from derivative financial instruments

52,303

(201,450)

Financial assets designated at fair value through profit or loss

(13,243)

(26,375)

Loans

11,052

(12,427)

Other assets

(46,604)

(59,614)

Deposits

14,720

35,472

Trading liabilities and negative market values from derivative financial instruments1

(77,813)

181,738

Financial liabilities designated at fair value through profit or loss and investment contract liabilities2

(10,973)

47,532

Central bank funds purchased, securities sold under repurchase agreements and securities loaned

24,886

(14,803)

Other short-term borrowings

1,819

10,996

Other liabilities

48,054

54,284

Senior long-term debt3

(10,017)

12,140

Other, net

2,150

(7,085)

Net cash provided by (used in) operating activities

(12,252)

18,646

Cash flows from investing activities:

 

 

Proceeds from:

 

 

Sale of financial assets available for sale

14,452

3,689

Maturities of financial assets available for sale

6,462

1,778

Sale of equity method investments

123

282

Sale of property and equipment

36

12

Purchase of:

 

 

Financial assets available for sale

(11,938)

(6,287)

Equity method investments

(653)

(71)

Property and equipment

(379)

(371)

Net cash received in (paid for) business combinations/divestitures

226

1,525

Other, net

(318)

(448)

Net cash provided by investing activities

8,011

109

Cash flows from financing activities:

 

 

Issuances of subordinated long-term debt

6

1,038

Repayments and extinguishments of subordinated long-term debt

(168)

(655)

Issuances of trust preferred securities

29

98

Repayments and extinguishments of trust preferred securities

(73)

(10)

Purchases of treasury shares

(8,591)

(6,887)

Sale of treasury shares

7,615

6,030

Dividends paid to noncontrolling interests

(3)

(7)

Net change in noncontrolling interests

109

(344)

Cash dividends paid

(691)

(465)

Net cash used in financing activities

(1,767)

(1,202)

Net effect of exchange rate changes on cash and cash equivalents

(1,336)

1,695

Net increase (decrease) in cash and cash equivalents

(7,344)

19,248

Cash and cash equivalents at beginning of period

66,353

51,549

Cash and cash equivalents at end of period

59,009

70,797

Net cash provided by (used in) operating activities include

 

 

Income taxes paid, net

551

310

Interest paid

9,004

7,410

Interest and dividends received

17,873

15,133

Cash and cash equivalents comprise

 

 

Cash and due from banks

20,741

13,437

Interest-earning demand deposits with banks (not included: time deposits of € 53,804 million as of June 30, 2011, and € 9,050 million as of June 30, 2010)

38,268

57,360

Total

59,009

70,797

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