SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank Supplemental Financial Information (Unaudited) S-18
Annual Report 2010 on Form 20-F
should not compare the Group’s ratios based on average active equity to other companies’ ratios without
considering the differences in the calculation. The items for which the Group adjusts the average shareholders’
equity are average accumulated other comprehensive income excluding foreign currency translation (all components
net of applicable taxes), as well as average dividends, for which a proposal is accrued on a quarterly basis
and which are paid after the approval by the Annual General Meeting following each year. Tax rates applied in
the calculation of average active equity are those used in the financial statements for the individual items and
not an average overall tax rate.
in € m.
(unless stated otherwise) 2010 2009 2008
2010 increase (decrease)
from 2009
2009 increase (decrease)
from 2008
in € m. in % 1 in € m. in % 1
Average shareholders’ equity 41,712 34,016 34,442 7,696 23 (426) (1)
Add (deduct):
Average accumulated other comprehensive income excluding
foreign currency translation, net of applicable tax 2 102 884 (619) (782) (88) 1,503 N/M
Average dividend accruals (461) (287) (1,743) (174) 61 1,456 (84)
Average active equity 41,353 34,613 32,079 6,740 19 2,534 8
Pre-tax return on average shareholders’ equity 9.5 % 15.3 % (16.5)% (5.8) ppt 31.8 ppt
Pre-tax return on average active equity 9.6 % 15.1 % (17.7)% (5.5) ppt 32.8 ppt
Pre-tax return on average active equity (target definition) 14.7 % 14.8 % (20.0)% (0.1) ppt 34.8 ppt
1 Unless stated otherwise.
2 The tax effect on average accumulated other comprehensive income excluding foreign currency translation was € (400) million, € (695) million and € (449) million for the years ended
December 31, 2010, 2009 and 2008, respectively.
The non-GAAP financial measure for growth in earnings per share is Diluted earnings per share (target definition),
which is defined as net income (loss) attributable to Deutsche Bank shareholders (i.e., excluding noncontrolling
interests), adjusted for post-tax effects of significant gains/charges and certain significant tax effects, divided by
the weighted average number of diluted shares outstanding. For reference, the Group’s diluted earnings per
share, which is defined as net income (loss) attributable to Deutsche Bank shareholders (i.e., excluding noncontrolling
interests), divided by the weighted average number of diluted shares outstanding, is also provided.
Diluted earnings per share assume the conversion into common shares of outstanding securities or other
contracts to issue common stock, such as share options, convertible debt, unvested deferred share awards
and forward contracts.
in € m.
(unless stated otherwise) 2010 2009 2008
2010 increase (decrease)
from 2009
2009 increase (decrease)
from 2008
in € m. in % in € m. in %
Net income (loss) attributable to Deutsche Bank shareholders
Add (deduct):
2,310 4,973 (3,835) (2,663) (54) 8,808 N/M
Post-tax effect of certain significant gains/charges 2,130 1
(90) 2
(959) 3
2,221 N/M 868 (91)
Certain significant tax effects
Net income (loss) attributable to Deutsche Bank shareholders
– – – – N/M – N/M
(basis for target definition EPS) 4,440 4,883 (4,794) (442) (9) 9,676 N/M
Diluted earnings per share € 2.92 € 6.94 € (6.87) € (4.02) (58) € 13.81 N/M
Diluted earnings per share (target definition) € 5.62 € 6.82 € (8.58) € (1.20) (18) € 15.40 N/M
N/M – Not meaningful
1 Charge related to the investment in Deutsche Postbank AG (Corporate Investments) of € 2,338 million and gain from the recognition of negative goodwill related to the acquisition of the
commercial banking activities of ABN AMRO in the Netherlands of € 208 million as reported in the second quarter 2010.
2 Reversal of impairment of intangible assets (Asset Management) of € 173 million (the related impairment had been recorded in 2008), a gain from the sale of industrial holdings (Daimler AG)
of € 236 million, an impairment charge of € 221 million on industrial holdings and an impairment of intangible assets (Corporate Investments) of € 98 million.
3 Gains from the sale of industrial holdings (Daimler AG, Allianz SE and Linde AG) of € 1,228 million, a gain from the sale of the investment in Arcor AG & Co. KG of € 86 million and an
impairment of intangible assets (Asset Management) of € 355 million.