SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Notes to the Consolidated Balance Sheet F-115
Annual Report 2010 on Form 20-F 24 – Goodwill and Other Intangible Assets
24 –
Goodwill and Other Intangible Assets
Goodwill
Changes in Goodwill
The changes in the carrying amount of goodwill, as well as gross amounts and accumulated impairment losses
of goodwill, for the years ended December 31, 2010, and 2009, are shown below by business segment.
in € m.
Corporate
Banking &
Securities
Global
Transaction
Banking
Asset and
Wealth
Management
Private &
Business
Clients
Corporate
Investments Total
Balance as of January 1, 2009 3,128 456 2,975 974 – 7,533
Purchase accounting adjustments – – – – – –
Goodwill acquired during the year 2 1 – – – 3
Transfers – – (306) – 306 –
Reclassification from (to) ‘held for sale’ (14) – – – – (14)
Goodwill related to dispositions without being
classified as ‘held for sale’ – – – – – –
Impairment losses 1 – – – – (151) (151)
Exchange rate changes/other (11) (4) 46 – 18 49
Balance as of December 31, 2009 3,105 453 2,715 974 173 7,420
Gross amount of goodwill 3,109 453 2,715 974 849 8,100
Accumulated impairment losses (4) – – – (676) (680)
Balance as of January 1, 2010 3,105 453 2,715 974 173 7,420
Purchase accounting adjustments – 5 (4) – – 1
Goodwill acquired during the year 2 – 844 2,049 – 2,895
Transfers – 3 (3) – – –
Reclassification from (to) ‘held for sale’ – – (20) – – (20)
Goodwill related to dispositions without being
classified as ‘held for sale’ – – – – – –
Impairment losses – – – – – –
Exchange rate changes/other 225 26 192 2 21 466
Balance as of December 31, 2010 3,332 487 3,724 3,025 194 10,762
Gross amount of goodwill 3,337 487 3,724 3,025 903 11,476
Accumulated impairment losses (5) – – – (709) (714)
1 Impairment losses of goodwill are recorded as impairment of intangible assets in the income statement.
In 2010, additions to goodwill totaled approximately € 2.9 billion. This included an amount of € 2,049 million
related to the acquisition of a controlling interest in Deutsche Postbank AG (“Postbank”) in December 2010,
which had been allocated to Private & Business Clients (PBC). The acquisition of the Sal. Oppenheim Group
(including its subsidiary BHF-BANK AG (“BHF-BANK”), excluding BHF Asset Servicing GmbH) in the first
quarter 2010 resulted in the recognition of goodwill of € 844 million which was assigned to Asset and Wealth
Management (AWM). Following the contemplated sale of BHF-BANK and its classification as a disposal group
held for sale, goodwill of € 13 million associated with the acquisition of that unit was reclassified to the disposal
group in the fourth quarter 2010. Furthermore, the acquisition of a U.S. based investment advisor contributed
€ 2 million of goodwill to Corporate Banking & Securities (CB&S). Due to the designated sale of a subsidiary in
the AWM Corporate Division, an amount of € 7 million had been assigned to the respective disposal group held
for sale.
No impairment of goodwill was recorded in 2010.