Consolidated statement of income

JAN 1 THROUGH DEC 31 / € million	Note	2023	2022 ¹⁾
Revenues	(1)	45,191	52,085
Inventory changes and other internally produced and capitalized assets	(2)	4,626	4,115
Overall performance		49,817	56,200
Other operating income	(3)	3,354	4,157
Cost of materials	(4)	–25,276	–32,017
Personnel expenses	(5)	–19,604	–18,288
Depreciation, amortization and impairments	(6)	–3,912	–3,576
Other operating expenses	(7)	–5,652	–5,037
Operating income (EBIT)		–1,273	1,439
Result from investments accounted for using the equity method	(8)	9	–7
Net interest income	(9)	–617	–351
Other financial result	(10)	–78	9
Financial result		–686	–349
Profit/loss before taxes on income		–1,959	1,090
Taxes on income	(11)	–73	–1,143
Net loss for the year (continuing operations)		–2,032	–53
thereof net loss attributable to shareholder of Deutsche Bahn AG		–2,080	–100
thereof remuneration entitlement of hybrid capital investors		25	25
thereof net profit for the year attributable to non-controlling interests		23	22
Net loss for the year (discontinued operations)		–319	–174
thereof net loss attributable to shareholder of Deutsche Bahn AG		–319	–174
thereof remuneration entitlement of hybrid capital investors		–	–
thereof net profit for the year attributable to non-controlling interest		0	0
Net loss for the year		–2,351	–227
thereof net loss attributable to shareholder of Deutsche Bahn AG		–2,399	–274
thereof remuneration entitlement of hybrid capital investors		25	25
thereof net profit for the year attributable to non-controlling interests		23	22

Earnings per share (€ per share) (continuing operations)
Undiluted		–4.84	–0.23
Diluted		–4.84	–0.23
Earnings per share (€ per share) (discontinued operations)
Undiluted		–0.74	–0.41
Diluted		–0.74	–0.41
Earnings per share (€ per share)	(12)
Undiluted		–5.58	–0.64
Diluted		–5.58	–0.64

¹⁾ Values for 2022 adjusted due to classification of DB Arriva as discontinued operations.

Reconciliation of consolidated comprehensive income

JAN 1 THROUGH DEC 31 / € million	2023	2022 ¹⁾
Net loss for the year	–2,351	–227
Change in items recognized directly in equity, which are not reclassified to the income statement
Changes due to the revaluation of defined benefit plans (continuing operations)	–400	2,208
Changes due to the revaluation of defined benefit plans (discontinued operations)	–48	–44
	–448	2,164
Change in items recognized directly in equity, which are reclassified to the income statement
Changes resulting from currency translation (continuing operations)	–108	45
Changes resulting from currency translation (discontinued operations)	12	–26
Changes resulting from market valuation of securities (continuing operations)	0	5
Changes resulting from market valuation of securities (discontinued operations)	0	–5
Changes resulting from market valuation of cash flow hedges and reclassifications (continuing operations) ²⁾	–67	277
Changes resulting from market valuation of cash flow hedges and reclassifications (discontinued operations)	–11	2
Share of profit items not recognized in the income statement due to investments accounted for using the equity method (continuing operations)	3	–9
Share of profit items not recognized in the income statement due to investments accounted for using the equity method (discontinued operations)	0	–
	–171	289
Balance of profit items covered directly in equity – other profits (before taxes)	–619	2,453
Changes in deferred taxes on profit items recognized directly in equity, which are not reclassified to the income statement
Deferred taxes relating to revaluation of defined benefit plans (continuing operations)	–6	–114
Deferred taxes relating to revaluation of defined benefit plans (discontinued operations)	3	12
	–3	–102
Changes in deferred taxes on profit items recognized directly in equity, which are reclassified to the income statement
Deferred taxes relating to the change in the market valuation of cash flow hedges (continuing operations)	–1	–3
Deferred taxes relating to the change in the market valuation of cash flow hedges (discontinued operations)	8	–1
	7	–4
Balance of profit items recognized directly in equity – other profits (after taxes)	–615	2,347
Comprehensive income	–2,966	2,120

Comprehensive income
thereof comprehensive income attributable to shareholder of Deutsche Bahn AG	–3,007	2,077
thereof remuneration entitlement of hybrid capital investors	25	25
thereof comprehensive income for the year attributable to non-controlling interests	16	18

Comprehensive income for the period attributable to shareholder of Deutsche Bahn AG from
continuing operations	–2,652	2,313
discontinued operations	–355	–236

¹⁾ Values for 2022 adjusted due to classification of DB Arriva as discontinued operations.
²⁾ Since January 1, 2023, effects from diesel price hedging are no longer reported in comprehensive income (item “Change in profit items recognized directly in equity, which are reclassified to the income statement”), but are recognized outside of comprehensive income in equity (item “ hedging results reclassified to the carrying amount of acquired inventories during the year”). A corresponding change in presentation as of December 31, 2022, would have resulted in a € 109 million higher comprehensive income.