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50 | DEUTSCHE BAHN AG Provisions with a remaining term of more than one year are discounted using the matching maturity average market rate of the past seven financial years of the Deutsche Bundesbank. If an increase in another provision has resulted from the reval uation as of January 1, 2010 – where appropriate after netting with the cover funds – the corresponding cost has been recog nized completely in extraordinary expenses. If the revaluation as of January 1, 2010 – where appropriate after netting with the cover funds – has resulted in a reduction in the provision which will probably be reversed by no later than December 31, 2024, the option specified in Section 67 (1) Clause 2 EGHGB has not been utilized and the provision has been reversed accordingly. The difference was paid directly into retained earnings. Additions to and reversals of provisions which have taken place after January 1, 2010 are shown in the result from ordinary activities, and income and expenses resulting from compounding and discounting are shown separately in net interest income. liabilities are shown in their settlement amount. DB AG has exercised the option set out in Section 274 (1) Clause 2 HGB and has not capitalized any deferred taxes. Foreign currency receivables and liabilities, cash at banks and liabilities due to banks with remaining terms of less than one year as well as cash in hand in foreign currency are translated using the spot midrate applicable on the balance sheet date. Assets, liabilities, pending transactions or transactions which are extremely likely to take place (underlyings) are combined with derivative financial instruments to form valuation units in order to compensate for opposite changes in value or cash flows arising from the occurrence of equivalent risks under the appropriate conditions. Derivative financial instruments are only permitted to be used in conjunction with an underlying (micro hedge). The derivatives allocated to the underlyings are not shown in the balance sheet (net hedge presentation method). Accordingly, Sections 249 (1), 252 (1) Nos. 3 and 4 and 256a HGB are not applied. The fair value of financial instruments which are traded on an active market is derived from the market price applicable on the balance sheet date. Standard valuation methods such as option price or presentvalue models are used and assumptions which were appropriate on the basis of market conditions on the balance sheet dates are made in order to determine the fair value of financial instruments which are not traded on an active market. If parameters which are relevant for valuation purposes are not directly observable on the market, forecasts are used; these are based on equivalent financial instruments which are traded on an active market and to which markups or markdowns are applied on the basis of historical data. The mean figure from the bid and offer price is used. The activity of the assigned civil servants in DB Group is based on a statutory assignment under the terms of the Rail Restructuring Act (Eisenbahnneuordnungsgesetz; ENeuOG), Art. 2 Section 12. For the work of the assigned civil servants, DB AG reimburses to the Federal Railroad Fund (Bundeseisenbahnvermögen; BEV) those costs which would be incurred if a person subject to collective bargaining agreements were to be employed as an employee instead of the assigned civil servants (pro forma settlement). Consequently, the personnel expenses reimbursed to the BEV for the assigned civil servants are shown under personnel expenses due to the economic approach. Contrary to the structure of the income statement prescribed in Section 275 (2) HGB, the other taxes are not shown under the specified item no. 19 because the taxes involved relate to costs. These are shown under other operating expenses. notes to the Balance sheet (2) Fixed assets A fixed asset schedule is shown on pages 46 – 47. (3) Inventories [ € million ] Dec 31, 2010 dec 31, 2009 raw materials and manufacturing supplies 0 0 unfinished products, work in progress 3 5 total 3 5
| ANNUAl FINANCIAl STATEmENTS (4) Receivables and other assets [ € million ] Dec 31, 2010 thereof with a remaining term of more than 1 year dec 31, 2009 trade receivables 6 0 14 receivables due from affiliated companies 3,581 – 3,161 receivables due from companies in which a participating interest is held 0 – 0 other assets 87 1 173 total 3,674 1 3,348 The valuation adjustments on accounts receivable and other assets amount to € 4 million (previous year: € 2 million). The accounts due from affiliated companies comprise receivables from cashpooling (€ 2,762 million; previous year: € 1,429 million), financing (profit transfers, shortterm loans and interest; a total of € 385 million; previous year: € 1,347 million), a single entity deemed to exist for VAT purposes (€ 266 million; previous year: € 246 million) as well as trade receivables (€ 168 million; previous year: € 139 million). The other assets mainly comprise receivables due from the fiscal authorities as well as creditors with a debit balance and interest accruals. In the previous year, the other assets included reinsurance claims of € 27 million. Of this figure, € 26 million were netted with the retirement benefit obligations in the current year. (5) Prepayments and accrued income Prepayments and accrued income mainly comprise the advance payment of the contribution to the Railway Accident Fund (Eisenbahnunfallkasse). (6) Subscribed capital The subscribed capital of DB AG is € 2,150 million, consisting of 430,000,000 nopar value bearer shares. All shares are held by the Federal Republic of Germany. (7) Capital reserves The capital reserves amount to € 5,310 million (unchanged). (8) Retained earnings The other retained earnings in accordance with Section 266 (3) HGB amounted to € 3,563 million (previous year: € 3,035 million). The revaluation of provisions as of January 1, 2010 carried out on the occasion of the initial adoption of BilmoG resulted in reversals totaling € 528 million from the provisions. In accordance with Section 67 (1) Clause 3 EGHGB, this figure was paid directly into retained earnings. (9) Provisions [ € million ] Provisions for pensions Dec 31, 2010 dec 31, 2009 and similar liabilities 170 143 tax provisions 242 231 other provisions 2,990 3,856 total 3,402 4,230 In the 2010 financial year, a total of € 50 million was allocated to provisions for pensions and similar commitments (previous year: € 16 million). This figure includes an amount of € 2 million for employeefinanced pension obligations (deferred compensation) (previous year: € 2 million). [ € million ] Dec 31, 2010 dec 31, 2009 Personnel-related commitments 72 71 restructuring charges 564 860 inherited environmental liabilities 1,481 1,606 reconveyance obligations Provisions relating to Aurelis 156 157 agreement 181 344 other risks 536 818 total 2,990 3,856 The personnelrelated commitments mainly comprise bonuses, indirect retirement benefit obligations as well as severance payments. 51
Page 1 and 2: Deutsche Bahn AG 2010 Management Re
Page 3 and 4: 01 02 03 04 CONTENTS Group structur
Page 5 and 6: | chairMan’s letter Chairman’s
Page 7 and 8: | mANAGEmENT rEPOrT overview a Posi
Page 9 and 10: | mANAGEmENT rEPOrT BUSineSS enviro
Page 11 and 12: | mANAGEmENT rEPOrT monetary Fund (
Page 13 and 14: | mANAGEmENT rEPOrT implementation
Page 15 and 16: | mANAGEmENT rEPOrT had a favorable
Page 17 and 18: | mANAGEmENT rEPOrT Due to the targ
Page 19 and 20: | mANAGEmENT rEPOrT Business perfor
Page 21 and 22: | mANAGEmENT rEPOrT BaLanCe SHeet B
Page 23 and 24: | mANAGEmENT rEPOrT Deregulation Th
Page 25 and 26: | mANAGEmENT rEPOrT In addition to
Page 27 and 28: | mANAGEmENT rEPOrT This focus help
Page 29 and 30: | mANAGEmENT rEPOrT Testing and app
Page 31 and 32: | mANAGEmENT rEPOrT risk report a I
Page 33 and 34: | mANAGEmENT rEPOrT Operating risks
Page 35 and 36: | mANAGEmENT rEPOrT Regulatory and
Page 37 and 38: | mANAGEmENT rEPOrT outlook a Econo
Page 39 and 40: | mANAGEmENT rEPOrT antiCipateD Dev
Page 41 and 42: | mANAGEmENT rEPOrT antiCipateD Dev
Page 43 and 44: 03 annual financial statements audi
Page 45 and 46: | ANNUAl FINANCIAl STATEmENTS Balan
Page 47 and 48: | ANNUAl FINANCIAl STATEmENTS state
Page 49 and 50: | Balance at Jan 1, 2010 ANNUAl FIN
Page 51: | ANNUAl FINANCIAl STATEmENTS At DB
Page 55 and 56: | ANNUAl FINANCIAl STATEmENTS A sum
Page 57 and 58: | ANNUAl FINANCIAl STATEmENTS NOmIN
Page 59 and 60: | ANNUAl FINANCIAl STATEmENTS (17)
Page 61 and 62: | ANNUAl FINANCIAl STATEmENTS mANAg
Page 63 and 64: | ANNUAl FINANCIAl STATEmENTS a geo
Page 65 and 66: | ANNUAl FINANCIAl STATEmENTS a dr.
Page 67 and 68: | ANNUAl FINANCIAl STATEmENTS subsi
Page 83 and 84: | RepoRt of the SupeRviSoRy BoaRd R
Page 85 and 86: PROFESSOR DR. DR. UTz-HEllMUTH FElC
Page 87 and 88: iMprint concePT, ediTing Deutsche b

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