HSBC 2002 Annual Report Download - page 192

HSBC HOLDINGS PLC
Financial Statements
190
Consolidated profit and loss account for the year ended 31 December 2002
Note 2002 2001* 2000*
US$m US$m US$m
Interest receivable
– interest receivable and similar income arising from
debt securities............................................................. 7,253 8,590 7,458
– other interest receivable and similar income .............. 21,342 26,671 30,288
Interest payable .............................................................. (13,135) (20,536) (24,023)
Net interest income ...................................................... 15,460 14,725 13,723
Dividend income............................................................ 3278 186 197
Fees and commissions receivable .................................. 9,245 8,756 8,576
Fees and commissions payable ...................................... (1,421) (1,286) (1,265)
Dealing profits ............................................................... 41,313 1,685 1,626
Other operating income.................................................. 1,720 1,822 1,716
Operating income......................................................... 726,595 25,888 24,573
Administrative expenses ................................................ 5,7 (13,764) (13,471) (12,496)
Depreciation and amortisation
– tangible fixed assets ................................................... 25 (1,190) (1,134) (1,081)
– goodwill ..................................................................... 24 (854) (799) (510)
Operating profit before provisions............................. 10,787 10,484 10,486
Provisions
– provisions for bad and doubtful debts ........................ 17 (1,321) (2,037) (932)
– provisions for contingent liabilities and
commitments .............................................................. 32 (39 ) (649) (71)
Loss from foreign currency redenomination
in Argentina ............................................................... 6(68 ) (520)
–
Amounts written off fixed asset investments ................. (324) (125) (36)
Operatin
g
profit ........................................................... 9,035 7,153 9,447
Share of operating loss in joint ventures ........................ (28 ) (91 ) (51)
Share of operating profit in associates ........................... 135 164 75
Gains/(losses) on disposal of
– investments................................................................. 532 754 302
– tangible fixed assets ................................................... (24 ) 20 2
Profit on ordinary activities before tax ...................... 79,650 8,000 9,775
Tax on profit on ordinary activities................................ 8(2,534) (1,988) (2,409)
Profit on ordinary activities after tax......................... 7,116 6,012 7,366
Minority interests
– equity.......................................................................... (505) (579) (558)
– non-equity ................................................................. (372) (441) (351)
Profit attributable to shareholders............................. 6,239 4,992 6,457
Dividends....................................................................... 10 (5,001) (4,467) (4,010)
Retained profit for the year ........................................ 1,238 525 2,447
US$ US$ US$
Basic earnings per ordinary share .................................. 11 0.67 0.54 0.74
Diluted earnings per ordinary share ............................... 11 0.66 0.53 0.73
Dividends per ordinary share ......................................... 10 0.530 0.480 0.435
Movements in reserves are set out in Note 36.
The accompanying notes are an integral part of the Consolidated Financial Statements.
* Figures for 2001 and 2000 have been restated to reflect the adoption of UK Financial Reporting Standard 19 ‘Deferred Tax’, details
of which are set out in Note 1 on the Financial Statements on pages 195 to 197.