entire - Deutsche Bank Annual Report 2012

Deutsche Bank 02 – Consolidated Financial Statements 156
Financial Report 2010 Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows
in € m. 2010 2009 2008
Net income (loss) 2,330 4,958 (3,896)
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses 1,274 2,630 1,076
Restructuring activities – – –
Gain on sale of financial assets available for sale, equity method investments, and other (363) (656) (1,732)
Deferred income taxes, net 315 (296) (1,525)
Impairment, depreciation and other amortization, and accretion 4,255 1,782 3,047
Share of net income from equity method investments (457) (189) (53)
Income (loss) adjusted for noncash charges, credits and other items 7,354 8,229 (3,083)
Adjustments for net change in operating assets and liabilities:
Interest-earning time deposits with banks (34,806) 4,583 (3,964)
Central bank funds sold, securities purchased under resale agreements, securities borrowed 26,368 (4,203) 24,363
Trading assets and positive market values from derivative financial instruments (27,237) 726,237 (472,203)
Financial assets designated at fair value through profit or loss (24,502) 24,890 169,423
Loans (2,823) 17,213 (37,981)
Other assets (5,894) 21,960 38,573
Deposits 22,656 (57,330) (56,918)
Trading liabilities and negative market values from derivative financial instruments 9,549 (686,214) 655,218
Financial liabilities designated at fair value through profit or loss and investment contract liabilities 53,450 (7,061) (159,613)
Central bank funds purchased, securities sold under repurchase agreements, securities loaned (40,709) (40,644) (97,009)
Other short-term borrowings 18,509 2,592 (14,216)
Other liabilities 2,851 (15,645) (15,482)
Senior long-term debt (3,457) (7,150) 12,769
Other, net (4,985) (1,243) (2,760)
Net cash provided by (used in) operating activities (3,676) (13,786) 37,117
Cash flows from investing activities:
Proceeds from:
Sale of financial assets available for sale 10,652 9,023 19,433
Maturities of financial assets available for sale 4,181 8,938 18,713
Sale of equity method investments 250 574 680
Sale of property and equipment 108 39 107
Purchase of:
Financial assets available for sale (14,087) (12,082) (37,819)
Equity method investments (145) (3,730) (881)
Property and equipment (873) (592) (939)
Net cash received in (paid for) business combinations/divestitures 8,580 (20) (24)
Other, net (1,189) (1,749) (39)
Net cash provided by (used in) investing activities 7,477 401 (769)
Cash flows from financing activities:
Issuances of subordinated long-term debt 1,341 457 523
Repayments and extinguishments of subordinated long-term debt (229) (1,448) (659)
Issuances of trust preferred securities 90 1,303 3,404
Repayments and extinguishments of trust preferred securities (51) – –
Common shares issued under share-based compensation plans – – 19
Capital increase 10,060 – 2,200
Purchases of treasury shares (15,366) (19,238) (21,736)
Sale of treasury shares 13,519 18,111 21,426
Dividends paid to noncontrolling interests (7) (5) (14)
Net change in noncontrolling interests 200 109 331
Cash dividends paid (465) (309) (2,274)
Net cash provided by (used in) financing activities 9,092 (1,020) 3,220
Net effect of exchange rate changes on cash and cash equivalents 1,911 690 (402)
Net increase (decrease) in cash and cash equivalents 14,804 (13,715) 39,166
Cash and cash equivalents at beginning of period 51,549 65,264 26,098
Cash and cash equivalents at end of period 66,353 51,549 65,264
Net cash provided by (used in) operating activities include
Income taxes paid (received), net 784 (520) (2,495)
Interest paid 13,740 15,878 43,724
Interest and dividends received 29,456 28,211 54,549
Cash and cash equivalents comprise
Cash and due from banks 17,157 9,346 9,826
Interest-earning demand deposits with banks (not included: time deposits of € 43,181 m. as of December
31, 2010, and € 5,030 m. and € 9,301 m. as of December 31, 2009 and 2008) 49,196 42,203 55,438
Total 66,353 51,549 65,264
The accompanying notes are an integral part of the Consolidated Financial Statements.
The acquisition of Deutsche Postbank AG shares, including the non-cash portion, is described in detail in Note 04 “Acquisitions and Dispositions”. The restructuring of
loans the Group held with the Icelandic generic pharmaceutical group Actavis Group hF resulted in a non-cash reclassification of the subordinated financing arrange-
ment from operating to investing activities for the purposes of the Consolidated Statement of Cash Flows. The transaction is described in detail in Note 17 “Equity
Method Investments”.