EX-12.5 2 d147858dex125.htm EXHIBIT 12.5 Exhibit 12.5

EXHIBIT 12.5

CAPITALIZATION & INDEBTEDNESS

THE FOLLOWING TABLE SETS FORTH OUR UNAUDITED CONSOLIDATED CAPITALIZATION IN ACCORDANCE WITH IFRS.

 

     December 31,  2015(1)  
     (in € m.)  

Debt:(2), (3)

   

Long-term debt

      160,016   

Trust preferred securities

      7,020   

Long-term debt at fair value through profit or loss

      8,710   
  

 

 

  

Total debt

      175,747   
  

 

 

  

Shareholders’ equity:

   

Common shares (no par value)

      3,531   

Additional paid-in capital

      33,572   

Retained earnings

      21,182   

Common shares in treasury, at cost

      (10 ) 

Accumulated other comprehensive income, net of tax

   

Unrealized net gains (losses) on financial assets available for sale, net of applicable tax and other

      1,384   

Unrealized net gains (losses) on derivatives hedging variability of cash flows, net of tax

      97   

Unrealized net gains (losses) on assets classified as held for sale, net of tax

      662   

Foreign currency translation, net of tax

      2,196   

Unrealized net gains (losses) from equity method investments

      66   
  

 

 

  

Total shareholders’ equity

      62,679   
  

 

 

  

Equity component of financial instruments

      4,675   

Noncontrolling interests

      270   
  

 

 

  

Total equity

      67,624   
  

 

 

  

Total capitalization

      243,370   
  

 

 

  

 

 

1 

As of January 31, 2016, there has not been a material change in our capitalization and indebtedness from that set forth in this table.

 

2 

€ 864 million (0.5 %) of our debt was guaranteed as of December 31, 2015. This consists of debt of a subsidiary of Deutsche Postbank AG which is guaranteed by the German government.

 

3 

€ 33,117 million (19 %) of our debt was secured as of December 31, 2015.