entire - Deutsche Bank Annual Report 2012

Deutsche Bank 02 – Consolidated Financial Statements 266
Financial Report 2010 Notes to the Consolidated Balance Sheet
23 – Leases
Future minimum sublease payments of € 105 million are expected to be received under non-cancelable
subleases as of December 31, 2010. As of December 31, 2009, future minimum sublease payments of
€ 111 million were expected. As of December 31, 2010, the amount of contingent rent recognized in the income
statement was € 1 million. As of December 31, 2009, contingent rent was € (0.7) million. The contingent rent is
based on market interest rates, such as 3-months EURIBOR; below a certain rate the Group receives a rebate.
Operating Lease Commitments
The Group leases the majority of its offices and branches under long-term agreements. Most of the lease contracts
are made under usual terms and conditions. The Group has one significant lease contract which contains five
options to extend the lease each for a period of five years and there is no purchase option in this specific lease.
The future minimum lease payments required under the Group’s operating leases were as follows.
in € m. Dec 31, 2010 Dec 31, 2009
Future minimum rental payments:
not later than one year 831 728
later than one year and not later than five years 2,316 2,046
later than five years 2,074 2,352
Total future minimum rental payments 5,221 5,126
less: Future minimum rentals to be received 248 255
Net future minimum rental payments 1 4,973 4,871
1 The total of 2010 payments included an amount relating to Postbank of € 425 million.
In 2010, the rental payments for lease and sublease agreements amounted to € 890 million. This included
charges of € 927 million for minimum lease payments and € 2 million for contingent rents as well as € 39 million
related to sublease rentals received.