SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Notes to the Consolidated Financial Statements F-60
Annual Report 2010 on Form 20-F 04 – Acquisitions and Dispositions
The fair value amounts recognized for the Sal. Oppenheim Group (excluding BAS) as of the acquisition date
were as follows:
Fair Value of Assets Acquired and Liabilities Assumed as of the Acquisition Date
in € m.
Consideration transferred
Cash consideration transferred 986
Fair value of contingent consideration 0
Total purchase consideration 986
Recognized amounts of identifiable assets acquired and liabilities assumed 1
Cash and cash equivalents 2,638
Interest-earning time deposits with banks 3,298
Central bank funds sold and securities purchased under resale agreements 889
Financial assets at fair value through profit or loss 6,626
Financial assets available for sale 6,174
Loans 5,609
Intangible assets 162
Assets classified as held for sale 1,884
All other assets 2,677
Deposits 18,461
Central bank funds purchased and securities sold under repurchase agreements 796
Financial liabilities at fair value through profit or loss 5,443
Long-term debt 1,737
Liabilities classified as held for sale 1,836
All other liabilities 1,534
Total identifiable net assets 150
Noncontrolling interests in Sal. Oppenheim Group 8
Total identifiable net assets attributable to DB shareholders 142
Goodwill 844
Total identifiable net assets and Goodwill acquired attributable to DB shareholders 986
1 By major class of assets acquired and liabilities assumed.
The acquisition resulted in the recognition of goodwill of € 844 million which largely consists of synergies
expected by combining certain operations in the asset and wealth management areas as well as an increased
market presence in these businesses in Germany, Luxembourg, Switzerland and Austria. The goodwill is not
expected to be deductible for tax purposes. Intangible assets included in the identifiable net assets acquired
mainly represent software, customer relationships and the Sal. Oppenheim trademark. As part of the purchase
price allocation, Deutsche Bank recognized a contingent liability of € 251 million for a large population of items
relating to certain businesses acquired from Sal. Oppenheim Group. The timing and actual amount of outflow
are uncertain. It is expected that these obligations will be settled over the next five years. The Group continues
to analyze the risks and the potential timing of outflows.