COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
294
238 Commerzbank Annual Report 2011
(38) Other net income
Other net income primarily comprises allocations to and
reversals of provisions, income and expenses from operating
leases as well as interim expenses and income attributable to
hire-purchase agreements. Expenses and income arising from
building and architects’ fees relate to the construction
management of our sub-group Commerz Real. Other taxes are
also included in this item.
€m 2011 2010 Change in %
Other material items of expense 436 549 – 20.6
Allocations to provisions 300 275 9.1
Operating lease expenses 91 181 – 49.7
Expenses arising from building and architects’ services 11 15 – 26.7
Hire-purchase expenses and sublease expense 34 78 – 56.4
Other material items of income 547 546 0.2
Reversals of provisions 375 272 37.9
Operating lease income 116 187 – 38.0
Income from building and architects’ services 12 24 – 50.0
Hire-purchase proceeds and sublease income 34 35 – 2.9
Income from disposal of fixed assets 10 28 – 64.3
Balance of sundry other expenses/income1 1,142 – 128 .
Other net income 1,253 – 131 .
1 Of which: €– 9m (previous year: €– 72m) attributable to exchange rate movements.
In the financial year 2011 a one-off income totalling €1.0bn was
recognised in other net income. Of this amount, €0.3bn derived
from the capital increase for non-cash contributions in January
(39) Operating expenses
The Group’s operating expenses of €7,992m (previous year:
€8,786m) consisted of personnel expenses of €4,178m (previous
year: €4,418m), other expenses of €3,340m (previous year:
€3,768m) and depreciation and amortisation of office furniture
2011 (see page 207) and €0.7bn from the capital-strengthening
measures in December 2011 (see Note 72).
and equipment, property and other intangible assets of €474m
(previous year: €600m). The breakdown of operating expenses
was as follows:
Personnel expenses | €m 2011 2010 Change in %
Wages and salaries 3,797 4,101 – 7.4
Expenses for pensions and similar employee benefits 381 317 20.2
Total 4,178 4,418 – 5.4
Personnel expenses included €483m expenses for social security contributions (previous year: €507m).