Consolidated Statement of Cash Flows

 (unaudited)

 

Six months ended

in € m.

Jun 30, 2014

Jun 30, 2013

1

Included are senior long-term debt issuances of € 4,417 million and € 4,989 million and repayments and extinguishments of € 4,472 million and € 7,599 million through June 30, 2014 and June 30, 2013, respectively.

2

Included are issuances of € 28,009 million and € 17,436 million and repayments and extinguishments of € 18,765 million and € 27,200 million through June 30, 2014 and June 30, 2013, respectively.

3

Includes net proceeds from issuance, repurchase and sale of Additional Equity Components.

Net income

1,341

1,995

Cash flows from operating activities:

 

 

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

 

 

Provision for credit losses

496

828

Restructuring activities

113

257

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

(174)

(184)

Deferred income taxes, net

833

598

Impairment, depreciation and other amortization, and accretion

1,158

1,194

Share of net income (loss) from equity method investments

(285)

(198)

Income adjusted for noncash charges, credits and other items

3,482

4,490

Adjustments for net change in operating assets and liabilities:

 

 

Interest-earning time deposits with banks

(9,120)

23,667

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

(5,602)

(4,613)

Financial assets designated at fair value through profit or loss

9,041

(5,292)

Loans

(10,581)

8,841

Other assets

(54,992)

(70,022)

Deposits

9,006

(22,724)

Financial liabilities designated at fair value through profit or loss and investment contract liabilities1

7,396

(12,611)

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

1,648

(8,432)

Other short-term borrowings

(3,254)

1,934

Other liabilities

40,420

71,554

Senior long-term debt2

9,378

(14,072)

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

3,939

20,061

Other, net

(642)

1,580

Net cash provided by (used in) operating activities

119

(5,639)

Cash flows from investing activities:

 

 

Proceeds from:

 

 

Sale of financial assets available for sale

7,590

6,281

Maturities of financial assets available for sale

5,156

6,544

Sale of equity method investments

93

54

Sale of property and equipment

14

86

Purchase of:

 

 

Financial assets available for sale

(19,208)

(16,196)

Equity method investments

(9)

0

Property and equipment

(229)

(243)

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

333

47

Other, net

(294)

(287)

Net cash provided by (used in) investing activities

 (6,554)

(3,714)

Cash flows from financing activities:

 

 

Issuances of subordinated long-term debt

15

1,178

Repayments and extinguishments of subordinated long-term debt

(2,115)

(1,504)

Issuances of trust preferred securities

48

11

Repayments and extinguishments of trust preferred securities

(1,676)

(3)

Common shares issued

8,508

2,961

Purchases of treasury shares

(5,156)

(7,695)

Sale of treasury shares

4,750

7,150

Net proceeds from Additional Equity Components3

3,452

0

Dividends paid to noncontrolling interests

(4)

0

Net change in noncontrolling interests

17

13

Cash dividends paid

(765)

(764)

Net cash provided by (used in) financing activities

7,074

1,347

Net effect of exchange rate changes on cash and cash equivalents

127

(433)

Net increase (decrease) in cash and cash equivalents

766

(8,439)

Cash and cash equivalents at beginning of period

56,041

53,321

Cash and cash equivalents at end of period

56,807

44,883

Net cash provided by (used in) operating activities include

 

 

Income taxes paid, net

(31)

328

Interest paid

6,248

5,923

Interest and dividends received

12,939

13,136

Cash and cash equivalents comprise

 

 

Cash and due from banks

21,096

21,195

Interest-earning demand deposits with banks (not included: time deposits of € 48,366 million as of June 30, 2014, and € 71,804 million as of June 30, 2013)

35,710

23,688

Total

56,806

44,883