HSBC 2002 Annual Report Download - page 224

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
222
2002 2001 2000
Book value
M
arke
t
valuation Book value
M
arke
t
valuation Book value
M
arke
t
valuation
US$m US$m US$m US$m US$m US$m
Investment securities:
– listed on a recognised UK
exchange ........................................ 17,651 18,082 13,769 13,877 9,514 9,564
– listed in Hong Kong....................... 1,530 1,640 915 959 795 830
– listed elsewhere.............................. 50,221 51,354 45,750 46,327 40,884 41,392
– unlisted........................................... 38,523 38,821 32,832 33,151 35,761 35,958
107,925 109,897 93,266 94,314 86,954 87,744
Other securities:
– listed on a recognised UK
exchange ........................................ 9,158 6,525 5,309
–listed in Hong Kong....................... 2,397 1,828 1,788
–listed elsewhere.............................. 29,434 35,597 26,923
– unlisted........................................... 26,816 23,363 11,844
175,730 160,579 132,818
Where securities are carried at market value, and the market value is higher than cost, the difference between cost
and market value is not disclosed as it cannot be determined without unreasonable expense.
The above market valuations do not take account of transactions entered into to hedge the value of HSBC’ s
investment securities. If the effect of these transactions was included, the market valuation of investment securities
would be US$109,204 million (2001: US$94,100 million; 2000: US$87,665 million).
Investment securities:
Cos
t
Provisions Book Value
US$m US$m US$m
At 1 January 2002........................................................................... 93,345 (79) 93,266
Additions ........................................................................................ 85,837
–
85,837
Acquisition of subsidiaries.............................................................. 2,004
–
2,004
Disposals and amounts repaid......................................................... (76,935)
–
(76,935)
Provisions made..............................................................................
–
(14) (14)
Amortisation of discounts and premiums ....................................... (289)
–
(289)
Exchange and other movements ..................................................... 4,078 (22) 4,056
At 31 December 2002.................................................................... 108,040 (115) 107,925