entire - Deutsche Bank Annual Report 2012

Deutsche Bank 02 – Consolidated Financial Statements 273
Financial Report 2010 Notes to the Consolidated Balance Sheet
24 – Goodwill and Other Intangible Assets
Primary cash generating units
Discount rate (pre-tax)
2010 2009
Corporate & Investment Bank
Corporate Banking & Securities 13.9 % N/A 1
Global Transaction Banking
Private Clients and Asset Management
11.7 % 12.5 %
Asset Management 12.5 % 13.5 %
Private Wealth Management 12.2 % 13.2 %
Private & Business Clients 13.1 % 13.1 %
N/A – Not applicable
1 Respective pre-tax discount rates in 2009 were 14.7 % for Global Markets and 14.5 % for Corporate Finance.
Sensitivities: In validating the value in use determined for the cash-generating units, the major value drivers of
each cash-generating unit are reviewed annually. In addition, key assumptions used in the DCF model (for
example, the discount rate and the earnings projections) are sensitized to test the resilience of value in use.
The recoverable amounts of all primary cash-generating units were substantially in excess of their respective
carrying amounts. On this basis, management believes that reasonably possible changes in key assumptions
used to determine the recoverable amount of the Group’s primary cash-generating units would not result in an
impairment.
However, certain global risks for the banking industry such as an unexpected weak recovery of the world economy,
a potential sovereign default and overly costly and internationally fragmented new regulation may negatively
impact the performance forecasts of certain of the Group’s cash-generating units and, thus, could result in an
impairment of goodwill in the future.
Other Intangible Assets
Other intangible assets are separated into purchased and internally-generated intangible assets. While purchased
intangible assets are further split into unamortized and amortized other intangible assets, internally- generated
intangible assets consist only of internally-generated software.
The changes of other intangible assets by asset class for the years ended December 31, 2010, and 2009, are
as follows.