Deutsche Bank

Annual Report 2017

Consolidated Statement of Cash Flows

in € m.

2017

2016

2015

1

Prior year number restated.

2

Non-cash changes for Subordinated Long Term Debt are € (367) million in total and driven by FX movements of € (372) million.

3

Non-cash changes for Trust Preferred Securities are € (481) million in total and driven by FX movements of € (444) million and FV changes of € (51) million.

Net Income (loss)

(735)

(1,356)

(6,772)

Cash flows from operating activities:

 

 

 

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

 

 

 

Provision for credit losses

525

1,383

956

Restructuring activities

447

484

710

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

(575)

(899)

(430)

Deferred income taxes, net

1,234

(312)

(987)

Impairment, depreciation and other amortization, and accretion

2,159

3,745

8,908

Share of net income from equity method investments

(141)

(183)

(708)

Income (loss) adjusted for noncash charges, credits and other items

2,914

2,862

1,677

Adjustments for net change in operating assets and liabilities:

 

 

 

Interest-earning time deposits with central banks and banks

966

(2,814)

30,096

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

8,560

19,440

(10,108)

Financial assets designated at fair value through profit or loss

(6,721)

20,337

12,935

Loans

2,759

18,190

(14,015)

Other assets

21,970

(7,847)

26,756

Deposits

34,601

(15,237)

26,537

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

5,461

8,686

6,101

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

(3,355)

16,362

(1,120)

Other short-term borrowings

1,148

(10,632)

(16,149)

Other liabilities

(23,107)

(12,888)

(14,177)

Senior long-term debt

(12,728)

12,328

13,536

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

1,596

30,341

13,788

Other, net

5,512

(8,518)

(8,605)

Net cash provided by (used in) operating activities

39,576

70,610

67,252

Cash flows from investing activities:

 

 

 

Proceeds from:

 

 

 

Sale of financial assets available for sale

10,657

26,855

18,027

Maturities of financial assets available for sale

6,798

6,029

3,986

Maturities of securities held to maturity

0

0

0

Sale of equity method investments

80

50

165

Sale of property and equipment

113

206

272

Purchase of:

 

 

 

Financial assets available for sale

(13,472)

(21,639)

(29,665)

Securities held to maturity

0

0

0

Equity method investments

(12)

(81)

(95)

Property and equipment

(485)

(725)

(432)

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

82

2,023

555

Other, net

(1,328)

(1,479)

(1,055)

Net cash provided by (used in) investing activities

2,433

11,239

(8,242)

Cash flows from financing activities:

 

 

 

Issuances of subordinated long-term debt

8812

815

2,942

Repayments and extinguishments of subordinated long-term debt

(176)2

(1,102)

(2,043)

Issuances of trust preferred securities

2663

121

788

Repayments and extinguishments of trust preferred securities

(666)3

(840)

(5,114)

Common shares issued

8,037

0

0

Purchases of treasury shares

(7,912)

(5,264)

(9,177)

Sale of treasury shares

7,471

4,983

8,316

Additional Equity Components (AT1) issued

0

0

0

Purchases of Additional Equity Components (AT1)

(205)

(207)

(407)

Sale of Additional Equity Components (AT1)

217

202

442

Coupon on additional equity components, pre tax

(335)

(333)

(269)

Dividends paid to noncontrolling interests

(11)

(11)

(10)

Net change in noncontrolling interests

(37)

(13)

(17)

Cash dividends paid to Deutsche Bank shareholders

(392)

0

(1,034)

Net cash provided by (used in) financing activities

7,138

(1,649)

(5,583)

Net effect of exchange rate changes on cash and cash equivalents

(5,772)

(28)

94

Net increase (decrease) in cash and cash equivalents

43,376

80,172

53,521

Cash and cash equivalents at beginning of period

185,649

105,478

51,960

Cash and cash equivalents at end of period

229,025

185,649

105,478

Net cash provided by (used in) operating activities include

 

 

 

Income taxes paid (received), net

689

1,572

902

Interest paid

11,784

10,808

10,608

Interest received

21,095

22,579

21,749

Dividends received

3,006

3,256

4,428

Cash and cash equivalents comprise

 

 

 

Cash and central bank balances (not included: Interest-earning time deposits with central banks)

222,451

178,1051

94,923

Interbank balances (w/o central banks) (not included: time deposits with banks of € 5,896 m. as of December 31, 2017, € 7,079 m. as of December 31, 2016 and € 4,304 m as of December 31, 2015)

6,574

7,5441

10,555

Total

229,025

185,6491

105,478

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