HSBC 2002 Annual Report Download - page 233

231
24 Intangible fixed assets
Cos
t
*
US$m
Goodwill
At 1 January 2002 ................................................................................................................................... 15,950
Additions (positive goodwill of US$2,074 million, negative goodwill of US$82 million)
(note 26 (c))......................................................................................................................................... 1,992
Exchange and other movements.............................................................................................................. 1,637
Cost at 31 December 2002 .................................................................................................................... 19,579
Accumulate
d
amortisation
US$m
Accumulated amortisation at 1 January 2002 ......................................................................................... (1,386)
Charge to the profit and loss account (net of negative goodwill of US$24 million)............................... (854)
Exchange and other movements.............................................................................................................. (176)
Accumulated amortisation at 31 December 2002............................................................................... (2,416)
Net book value at 31 December 2002 (net of negative goodwill of US$58 million).......................... 17,163
Net book value at 31 December 2001..................................................................................................... 14,564
* Figures for 2001 have been restated to reflect the adoption of UK Financial Reporting Standard 19 ‘Deferred Tax’, details of which
are set out in Note 1 of the Financial Statements on pages 195 to 197.
Additions represent goodwill arising on acquisitions and increases of holdings in subsidiaries and businesses during
2002. Positive goodwill is being amortised over periods of up to 20 years. Negative goodwill is being credited to the
profit and loss account over 5 years, the period to be benefited.