SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Notes to the Consolidated Balance Sheet F-123
Annual Report 2010 on Form 20-F 24 – Goodwill and Other Intangible Assets
Amortized Intangible Assets
Following the acquisitions of Postbank, Sal. Oppenheim (including BHF-BANK, but excluding BAS) and the
Dutch commercial banking activities from ABN AMRO during 2010, the purchase price allocations for these
transactions resulted in the identification and initial recognition of amortized intangible assets of approximately
€ 1.3 billion capitalized in the Group’s consolidated balance sheet. The amount included mainly customer-related
intangible assets of approximately € 1.1 billion (Postbank € 836 million, ABN AMRO € 168 million, Sal. Oppenheim
€ 66 million) and purchased software of € 214 million (Postbank € 142 million, Sal. Oppenheim € 72 million).
Also, these acquisitions involved the capitalization of € 163 million of self-developed software to the Group’s
consolidated balance sheet, of which € 156 million were attributable to Postbank.
Furthermore, in 2010 the Group recorded additions to amortized intangible assets of € 121 million, mainly
representing capitalized expenses for purchased software of € 68 million, customer-related intangible assets of
€ 29 million and the capitalization of € 11 million of deferred policy acquisition costs (DAC) related to incremental
costs of acquiring investment management contracts. Such acquisition costs are commissions payable to intermediaries
and business counterparties of the Group’s insurance business (see Note 39 “Insurance and Investment
Contracts”). Due to the Group classifying its subsidiary BHF-BANK as a disposal group held for sale, the
related carrying amounts for amortizing intangible assets of € 55 million were reclassified to other assets.
In 2010, impairments recorded on other intangible assets of € 41 million included a charge of € 29 million
relating to the client portfolio of an acquired domestic custody services business recorded in GTB and a loss
of € 12 million recorded in the retirement of purchased software included in AWM.
In 2009, additions and transfers to amortized intangible assets amounted to € 134 million and included purchased
software of € 35 million, the capitalization of DACs of € 26 million related to incremental costs of acquiring
investment management contracts, which are commissions payable to intermediaries and business counterparties
of the Group’s insurance business, and the recognition of customer relationships resulting from the
acquisition of Dresdner Bank’s Global Agency Securities Lending business of € 21 million (see Note 04
“Acquisitions and Dispositions”).
In 2009, impairment of intangible assets in the income statement included an impairment loss of € 4 million
relating to contract-based intangible assets as well as a reversal of an impairment loss of € 4 million relating to
customer-related intangible assets, which had been taken in the fourth quarter of 2008. The impairment loss
was included in CB&S, the impairment reversal was recorded in AWM.
In 2008, impairment losses relating to customer-related intangible assets and contract-based intangible assets
(mortgage servicing rights) amounting to € 6 million and € 1 million were recognized as impairment of intangible
assets and in commissions and fee income, respectively, in the income statement. The impairment of customerrelated
intangible assets was recorded in AWM and the impairment of contract-based intangible assets was
recorded in CB&S.