Consolidated Statement of Cash Flows

 (unaudited)

 

Nine months ended

in € m.

Sep 30, 2014

Sep 30, 2013

1

Included are senior long-term debt issuances of € 5,766 million and € 7,007 million and repayments and extinguishments of € 5,818 million and € 10,581 million through September 30, 2014 and September 30, 2013, respectively.

2

Included are issuances of € 39,297 million and € 21,998 million and repayments and extinguishments of € 26,931 million and € 30,776 million through September 30, 2014 and September 30, 2013, respectively.

3

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

Net income

1,250

2,047

Cash flows from operating activities:

 

 

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

 

 

Provision for credit losses

765

1,340

Restructuring activities

125

287

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

(283)

(288)

Deferred income taxes, net

782

326

Impairment, depreciation and other amortization, and accretion

3,641

1,857

Share of net income (loss) from equity method investments

(446)

(326)

Income adjusted for noncash charges, credits and other items

5,834

5,243

Adjustments for net change in operating assets and liabilities:

 

 

Interest-earning time deposits with banks

11,552

42,027

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

(5,314)

1,155

Financial assets designated at fair value through profit or loss

43,531

2,817

Loans

(17,299)

13,856

Other assets

(66,634)

(51,617)

Deposits

13,462

(38,046)

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

(31,827)

(17,118)

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

(3,320)

(18,421)

Other short-term borrowings

(9,802)

(4,108)

Other liabilities

52,616

53,866

Senior long-term debt2

15,646

(14,919)

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

12,341

33,619

Other, net

(2,597)

2,246

Net cash provided by (used in) operating activities

18,189

10,600

Cash flows from investing activities:

 

 

Proceeds from:

 

 

Sale of financial assets available for sale

10,582

11,162

Maturities of financial assets available for sale

7,174

9,033

Sale of equity method investments

107

61

Sale of property and equipment

117

103

Purchase of:

 

 

Financial assets available for sale

(27,827)

(22,175)

Equity method investments

(7)

(4)

Property and equipment

(444)

(381)

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

352

(128)

Other, net

(405)

(344)

Net cash provided by (used in) investing activities

(10,351)

(2,673)

Cash flows from financing activities:

 

 

Issuances of subordinated long-term debt

43

1,126

Repayments and extinguishments of subordinated long-term debt

(2,935)

(1,659)

Issuances of trust preferred securities

48

36

Repayments and extinguishments of trust preferred securities

(91)

(8)

Common shares issued

8,508

2,961

Purchases of treasury shares

(7,983)

(10,683)

Sale of treasury shares

7,125

9,648

Net proceeds from Additional Equity Components3

3,468

0

Dividends paid to noncontrolling interests

(4)

(7)

Net change in noncontrolling interests

23

77

Cash dividends paid

(765)

(764)

Net cash provided by (used in) financing activities

7,437

727

Net effect of exchange rate changes on cash and cash equivalents

485

(649)

Net increase (decrease) in cash and cash equivalents

15,760

8,005

Cash and cash equivalents at beginning of period

56,041

53,321

Cash and cash equivalents at end of period

71,801

61,325

Net cash provided by (used in) operating activities include

 

 

Income taxes paid, net

110

354

Interest paid

8,910

9,314

Interest and dividends received

19,032

20,304

Cash and cash equivalents comprise

 

 

Cash and due from banks

20,866

16,965

Interest-earning demand deposits with banks (not included: time deposits of € 28,266 million as of September 30, 2014, and € 53,141 million as of September 30, 2013)

50,935

44,361

Total

71,801

61,326