Prospectus-Final (clean) - Malta Financial Services Authority

for using the equitymethod31 Dec.201131 Dec.201131 Dec.201031 Dec.2010 ChangeOther non-current assets 7,780 6.3 7,222 5.6 558Total assets 122,542 100.0 127,812 100.0 (5,270)Liabilities andshareholders' equityCurrent liabilities 24,338 19.9 26,452 20.7 (2,114)Financial liabilities 10,219 8.4 11,689 9.1 (1,470)Trade and other payables 6,436 5.3 6,750 5.3 (314)Current provisions 3,217 2.6 3,193 2.5 24Liabilities directlyassociated with noncurrentassets anddisposal groups held forsale - - - - -Other current liabilities 4,466 3.6 4,820 3.8 (354)Non-current liabilities 58,263 47.5 58,332 45.6 (69)Financial liabilities 38,099 31.1 38,857 30.4 (758)Non-current provisions 7,784 6.3 8,001 6.2 (217)Other non-currentliabilities 12,380 10.1 11,474 9.0 906Shareholders' equity 39,941 32.6 43,028 33.7 (3,087)Total liabilities andshareholders' equity 122,542 100.0 127,812 100.0 (5,270)2011/2010Deutsche Telekom's total assets decreased by EUR 5.3 billion compared with 31 December 2010.Current assets increased by EUR 0.6 billion, while non-current assets decreased by EUR 5.9 billion.Cash and cash equivalents increased by EUR 0.9 billion compared with 31 December 2010. Pleaserefer to the consolidated statement of cash flows and selected notes to the consolidated statement ofcash flows in Deutsche Telekom's consolidated financial statements as of and for the year ended 31December 2011, incorporated by reference into this Prospectus for more information on this change.The 4.8% decline in trade and other receivables was mainly due to the difficult macroeconomicsituation in Europe.The net carrying amounts of the non-current assets and disposal groups held for sale increased byEUR 0.4 billion due to the decision to sell shares in Telekom Srbija.Other current assets decreased, primarily due to a EUR 0.2 billion decrease in inventories and aEUR 0.1 billion decrease in current recoverable income taxes.The decline in intangible assets and property, plant and equipment of EUR 6.1 billion as of31 December 2011 was due to depreciation and amortisation of EUR 11.0 billion as well as to totalimpairment losses of EUR 3.4 billion, mainly in the United States and Europe operating segments.These effects were partially offset by additions to assets of EUR 8.6 billion, the majority of whichrelated to investments intended to increase operating capacities. Apart from investments in new74