SEC Form 20-F - Deutsche Bank Annual Report 2012

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Deutsche Bank Notes to the Consolidated Financial Statements F-76 Annual Report 2010 on Form 20-F 05 – Business Segments and Related Information In 2009, loss before income taxes in C&A was € 226 million. Noninterest expenses included charges related to litigation provisions and other items outside the management responsibility of the business segments. Partly offsetting were value-added tax benefits. The main adjustments to net revenues in C&A in 2009 were: — Adjustments related to positions which were marked-to-market for management reporting purposes and accounted for on an accrual basis under IFRS. These adjustments, which decreased net revenues by approximately € 535 million, relate to economically hedged short-term positions as well as economically hedged debt issuance trades and were mainly driven by movements in short-term interest rates in both euro and U.S. dollar. — Hedging of net investments in certain foreign operations decreased net revenues by approximately € 225 million. — Derivative contracts used to hedge effects on shareholders’ equity, resulting from obligations under sharebased compensation plans, resulted in an increase of approximately € 460 million. — The remainder of net revenues was due to net interest expenses which were not allocated to the business segments and items outside the management responsibility of the business segments. Such items include net funding expenses on non-divisionalized assets/liabilities, e.g. deferred tax assets/liabilities, and net interest expenses related to tax refunds and accruals. In 2008, income before income taxes in C&A was € 15 million. Noninterest expenses included charges related to litigation provisions offset by value-added tax benefits. The main adjustments to net revenues in C&A in 2008 were: — Adjustments related to positions which were marked-to-market for management reporting purposes and accounted for on an accrual basis under IFRS. These adjustments, which increased net revenues by approximately € 450 million, relate to economically hedged short-term positions and were driven by the significant volatility and overall decline of short-term interest rates. — Hedging of net investments in certain foreign operations decreased net revenues by approximately € 160 million. — Trading results from the Group’s own shares and certain derivatives indexed to own shares are reflected in CB&S. The elimination of such results under IFRS resulted in an increase of approximately € 80 million. — Decreases related to the elimination of intra-Group rental income were € 37 million. — The remainder of net revenues was due to net interest expenses which were not allocated to the business segments and items outside the management responsibility of the business segments. Such items include net funding expenses on non-divisionalized assets/liabilities, e.g. deferred tax assets/liabilities, and net interest expenses related to tax refunds and accruals.
Deutsche Bank Notes to the Consolidated Financial Statements F-77 Annual Report 2010 on Form 20-F 05 – Business Segments and Related Information Assets and risk-weighted assets in C&A reflect corporate assets, such as deferred tax assets and central clearing accounts, outside of the management responsibility of the business segments. Average active equity assigned to C&A reflects the residual amount of equity that is not allocated to the segments as described in the “Measurement of Segment Profit or Loss” section of this Note. Entity-Wide Disclosures The following tables present the net revenue components of the CIB and PCAM Group Divisions, for the years ended December 31, 2010, 2009 and 2008, respectively. Corporate & Investment Bank in € m. 2010 2009 2008 Sales & Trading (equity) 3,108 2,650 (736) Sales & Trading (debt and other products) 9,740 9,557 323 Total Sales & Trading 12,849 12,208 (413) Origination (equity) 706 663 334 Origination (debt) 1,199 1,127 (717) Total origination 1,904 1,790 (383) Advisory 573 402 589 Loan products 1,736 1,949 1,296 Transaction services 3,223 2,609 2,784 Other products 644 (151) (661) Total 1 20,929 18,807 3,211 1 Total net revenues presented above include net interest income, net gains (losses) on financial assets/liabilities at fair value through profit or loss and other revenues such as commissions and fee income. During the first half of 2010 product revenue categories were reviewed. As a result, certain product revenues in CIB have been reclassified as described in more detail in Note 01 “Significant Accounting Policies” in the section “Basis of Accounting”. Private Clients and Asset Management in € m. 2010 2009 2008 Discretionary portfolio/fund management 2,560 2,083 2,433 Advisory/brokerage 1,745 1,531 2,045 Credit products 2,708 2,605 2,232 Deposits and payment services 2,029 1,875 1,968 Other products 1,001 167 353 Total 1 10,043 8,261 9,031 1 Total net revenues presented above include net interest income, net gains (losses) on financial assets/liabilities at fair value through profit or loss and other revenues such as commissions and fee income.
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2011 April 28, 2011 Interim Report
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SEC Form 20-F - Deutsche Bank Annual Report 2012

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