Consolidated Statement of Cash Flows


in € m.

2012

2011

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.

Net income

291

4,326

2,330

Cash flows from operating activities:

 

 

 

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

 

 

 

Provision for credit losses

1,721

1,839

1,274

Restructuring activities

394

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

(626)

(841)

(363)

Deferred income taxes, net

720

(387)

315

Impairment, depreciation and other amortization, and accretion

3,235

3,697

4,255

Share of net income from equity method investments

(397)

(222)

(457)

Income adjusted for noncash charges, credits and other items

5,338

8,412

7,354

Adjustments for net change in operating assets and liabilities:

 

 

 

Interest-earning time deposits with banks

1,279

(53,427)

(34,806)

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

(3,393)

(8,202)

26,368

Financial assets designated at fair value through profit or loss

(6,561)

(11,582)

(24,502)

Loans

11,715

(7,092)

(2,823)

Other assets

32,254

(17,962)

(5,894)

Deposits

(25,994)

66,168

22,656

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

(9,365)

(8,389)

53,450

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

(4,235)

12,622

(40,709)

Other short-term borrowings

3,616

1,689

18,509

Other liabilities

(14,017)

21,476

2,851

Senior long-term debt

(4,776)

(5,991)

(3,457)

Trading assets and liabilities, positive and negative market values from derivative financial instruments, net1

(7,627)

10,558

(17,664)

Other, net

(2,681)

(478)

(5,009)

Net cash provided by (used in) operating activities

(24,447)

7,802

(3,676)

Cash flows from investing activities:

 

 

 

Proceeds from:

 

 

 

Sale of financial assets available for sale

7,478

21,948

10,652

Maturities of financial assets available for sale

12,922

10,635

4,181

Sale of equity method investments

163

336

250

Sale of property and equipment

197

101

108

Purchase of:

 

 

 

Financial assets available for sale

(22,170)

(19,606)

(14,087)

Equity method investments

(14)

(602)

(145)

Property and equipment

(614)

(794)

(873)

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

96

348

8,580

Other, net

(703)

(451)

(1,189)

Net cash provided by (used in) investing activities

(2,645)

11,915

7,477

Cash flows from financing activities:

 

 

 

Issuances of subordinated long-term debt

61

76

1,341

Repayments and extinguishments of subordinated long-term debt

(708)

(715)

(229)

Issuances of trust preferred securities

17

37

90

Repayments and extinguishments of trust preferred securities

(30)

(45)

(51)

Capital increase

10,060

Purchases of treasury shares

(12,152)

(13,781)

(15,366)

Sale of treasury shares

11,418

12,229

13,519

Dividends paid to noncontrolling interests

(5)

(4)

(7)

Net change in noncontrolling interests

(271)

(266)

200

Cash dividends paid

(689)

(691)

(465)

Net cash provided by (used in) financing activities

(2,359)

(3,160)

9,092

Net effect of exchange rate changes on cash and cash equivalents

40

(964)

1,911

Net increase (decrease) in cash and cash equivalents

(29,411)

15,593

14,804

Cash and cash equivalents at beginning of period

81,946

66,353

51,549

Cash and cash equivalents at end of period

52,535

81,946

66,353

Net cash provided by (used in) operating activities include

 

 

 

Income taxes paid (received), net

1,280

1,327

784

Interest paid

16,518

17,743

13,740

Interest and dividends received

32,644

35,216

29,456

Cash and cash equivalents comprise

 

 

 

Cash and due from banks

27,885

15,928

17,157

Interest-earning demand deposits with banks (not included: time deposits of € 94,898 m. as of December 31, 2012, and € 95,982 m. and € 43,181 m. as of December 31, 2011 and 2010)

24,650

66,018

49,196

Total

52,535

81,946

66,353

The accompanying notes are an integral part of the Consolidated Financial Statements.

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