SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Notes to the Consolidated Income Statement F-84
Annual Report 2010 on Form 20-F 11 – Earnings per Common Share
In December 2008, the Group decided to amend existing forward purchase contracts covering 33.6 million
Deutsche Bank common shares from physical to net-cash settlement and these instruments are no longer
included in the computation of basic and diluted earnings per share.
The following table presents the computation of basic and diluted earnings per share for the years ended
December 31, 2010, 2009 and 2008, respectively.
in € m. 2010 2009 2008
Net income (loss) attributable to Deutsche Bank shareholders –
numerator for basic earnings per share 2,310 4,973 (3,835)
Effect of dilutive securities:
Forwards and options – – –
Convertible debt 3 2 (1)
Net income (loss) attributable to Deutsche Bank shareholders after assumed
conversions – numerator for diluted earnings per share 2,313 4,975 (3,836)
Number of shares in m.
Weighted-average shares outstanding – denominator for basic earnings per share 753.3 689.4 558.5
Effect of dilutive securities:
Forwards 0.0 0.0 0.0
Employee stock compensation options 0.0 0.1 0.0
Convertible debt 2.1 0.7 0.1
Deferred shares 35.4 26.4 0.0
Other (including trading options) 0.0 0.1 0.0
Dilutive potential common shares 37.5 27.3 0.1
Adjusted weighted-average shares after assumed conversions –
denominator for diluted earnings per share 790.8 716.7 558.6
in € 2010 2009 2008
Basic earnings per share 3.07 7.21 (6.87)
Diluted earnings per share 2.92 6.94 (6.87)
On October 6, 2010, Deutsche Bank AG completed a capital increase with subscription rights. As the subscription
price of the new shares was lower than the market price of the existing shares, the capital increase included a
bonus element. According to IAS 33, the bonus element is the result of an implicit change in the number of
shares outstanding for all periods prior to the capital increase without a fully proportionate change in resources.
As a consequence, the weighted average number of shares outstanding has been adjusted retrospectively for
all periods before October 6, 2010.
Due to the net loss situation, potentially dilutive instruments were generally not considered for the calculation
of diluted earnings per share for the year ended December 31, 2008, because to do so would have been antidilutive.
Under a net income situation however, the number of adjusted weighted-average shares after assumed
conversions for the year ended December 31, 2008 would have increased by 31.2 million shares.
As of December 31, 2010, 2009 and 2008, the following instruments were outstanding and were not included
in the calculation of diluted earnings per share, because to do so would have been anti-dilutive.
Number of shares in m. 2010 2009 2008
Forward purchase contracts 0.0 0.0 0.0
Put options sold 0.0 0.0 0.1
Call options sold 0.0 0.0 0.3
Employee stock compensation options 0.4 0.3 1.8
Deferred shares 0.0 0.0 26.9