COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
316
260 Commerzbank Annual Report 2011
(56) Fixed assets
Land and buildings Office furniture and equipment
€m 2011 2010 2011 2010
Carrying amount as at 1.1. 874 1,018 716 761
Cost of acquisition/production as at 1.1. 1,329 1,506 3,488 3,403
Exchange rate changes – 16 11 – 18 59
Additions 29 25 125 170
Disposals 27 185 693 218
Reclassifications to non-current assets and
disposal groups held for sale – 7 – 128 –
Other reclassifications/changes in the group of
consolidated companies – 46 – 28 – 215 74
Cost of acquisition/production as at 31.12. 1,262 1,329 2,815 3,488
Write-ups – – – –
Cumulative write-downs as at 1.1. 455 488 2,772 2,642
Exchange rate changes – 6 4 – 10 52
Additions 43 81 192 203
of which unscheduled 5 41 – –
Disposals 10 102 653 192
Reclassifications to non-current assets and
disposal groups held for sale – – 33 –
Other reclassifications/changes in the group of
consolidated companies – 14 – 16 – 124 67
Cumulative write-downs as at 31.12. 468 455 2,210 2,772
Carrying amount as at 31.12. 794 874 605 716
Borrowing costs capitalised in the current financial year – – – –
Range of interest rates used (in %) – – – –
The total value of fixed assets in the Commerzbank Group was
€1,399m (previous year: €1,590m) Euro, of which €0.1m was
(57) Tax assets
pledged as collateral. Beyond this there were no restrictions
with regard to rights of disposal relating to our fixed assets.
€m 31.12.2011 31.12.2010 Change in %
Current tax assets 716 650 10.2
in Germany 620 532 16.5
outside Germany 96 118 – 18.6
Deferred tax assets 4,154 3,567 16.5
Tax assets recognised in income statement 2,583 2,329 10.9
Tax assets not recognised in income statement 1,571 1,238 26.9
Total 4,870 4,217 15.5
Deferred tax assets represent the potential income tax charge
arising from temporary differences between the values assigned
to assets and liabilities in the Group balance sheet in accordance
with IFRS and their values for tax-accounting purposes in
accordance with the local tax regulations for consolidated
companies and future income tax relief arising from tax
carryforwards and as yet unused tax credits.