Consolidated Statement of Cash Flows

in € m.

2013

2012

2011

Net income

681

316

4,326

Cash flows from operating activities:

 

 

 

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

 

 

 

Provision for credit losses

2,065

1,721

1,839

Restructuring activities

399

394

0

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

(493)

(627)

(841)

Deferred income taxes, net

(179)

723

(387)

Impairment, depreciation and other amortization, and accretion

2,443

3,236

3,697

Share of net income from equity method investments

(433)

(397)

(222)

Income adjusted for noncash charges, credits and other items

4,483

5,365

8,412

Adjustments for net change in operating assets and liabilities:

 

 

 

Interest-earning time deposits with banks

55,515

1,320

(53,427)

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

11,267

(3,429)

(8,202)

Financial assets designated at fair value through profit or loss

(27)

(6,561)

(11,582)

Loans

16,007

11,756

(7,092)

Other assets

12,048

32,249

(17,962)

Deposits

(42,281)

(25,995)

66,168

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

(18,558)

(9,126)

(8,389)

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

(23,080)

(4,202)

12,622

Other short-term borrowings

(9,529)

3,335

1,689

Other liabilities

(17,625)

(11,483)

21,476

Senior long-term debt

(22,056)

(5,079)

(5,991)

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

38,013

(9,310)

10,558

Other, net

3,007

(2,794)

(478)

Net cash provided by (used in) operating activities

7,184

(23,954)

7,802

Cash flows from investing activities:

 

 

 

Proceeds from:

 

 

 

Sale of financial assets available for sale

18,054

7,476

21,948

Maturities of financial assets available for sale

11,564

12,922

10,635

Sale of equity method investments

76

163

336

Sale of property and equipment

137

197

101

Purchase of:

 

 

 

Financial assets available for sale

(31,588)

(22,170)

(19,606)

Equity method investments

(21)

(14)

(602)

Property and equipment

(513)

(614)

(794)

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

(128)

96

348

Other, net

(596)

(703)

(451)

Net cash provided by (used in) investing activities

(3,015)

(2,647)

11,915

Cash flows from financing activities:

 

 

 

Issuances of subordinated long-term debt

1,217

62

76

Repayments and extinguishments of subordinated long-term debt

(2,776)

(708)

(715)

Issuances of trust preferred securities

11

17

37

Repayments and extinguishments of trust preferred securities

(49)

(30)

(45)

Capital increase

2,961

0

0

Purchases of treasury shares

(13,648)

(12,171)

(13,781)

Sale of treasury shares

12,494

11,437

12,229

Dividends paid to noncontrolling interests

(13)

(3)

(4)

Net change in noncontrolling interests

23

(67)

(266)

Cash dividends paid

(764)

(689)

(691)

Net cash provided by (used in) financing activities

(544)

(2,152)

(3,160)

Net effect of exchange rate changes on cash and cash equivalents

(907)

39

(964)

Net increase (decrease) in cash and cash equivalents

2,718

(28,714)

15,593

Cash and cash equivalents at beginning of period

53,321

82,032

66,353

Cash and cash equivalents at end of period

56,041

53,321

81,946

Net cash provided by (used in) operating activities include

 

 

 

Income taxes paid (received), net

742

1,280

1,327

Interest paid

10,687

15,825

17,231

Interest and dividends received

25,573

32,003

34,703

Cash and cash equivalents comprise

 

 

 

Cash and due from banks

17,155

27,877

15,928

Interest-earning demand deposits with banks (not included: time deposits of € 39,097 m. as of December 31, 2013, and € 95,193 m. and € 95,982 m. as of December 31, 2012 and 2011)

38,886

25,444

66,018

Total

56,041

53,321

81,946

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


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