HSBC 2002 Annual Report Download - page 278

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
276
47 Segmental analysis
As HSBC is not required to disclose turnover, no segmental analysis of turnover is included. Turnover of non-
banking businesses is included in other operating income. The allocation of earnings reflects the benefit of
shareholders’ funds to the extent that these are actually allocated to businesses in the segment by way of intra-HSBC
capital and funding structures. Common costs are included in segments on the basis of the actual recharges made.
(a) By geographical region
Geographical information has been classified by the location of the principal operations of the subsidiary
undertaking, or in the case of The Hongkong and Shanghai Banking Corporation Limited, HSBC Bank plc,
HSBC Bank Middle East and HSBC Bank USA operations, by the location of the branch responsible for
reporting the results or for advancing the funds. Due to the nature of HSBC’ s structure, the analysis of profits
and net assets shown below includes intra-HSBC items between geographical regions. The ‘Rest of Asia-
Pacific’ geographical segment includes the Middle East, India and Australasia.
The geographical analysis has been realigned to reflect the reclassification of Mexico and Panama to North
America, from South America (formerly described as Latin America).
Total assets:
At 31 December 2002 At 31 December 2001†At 31 December 2000†
US$m % US$m % US$m %
Europe*......................................... 342,118 45.7 297,674 43.2 295,326 44.4
Hong Kong.................................... 180,525 24.1 175,744 25.6 176,618 26.5
Rest of Asia-Pacific* .................... 76,635 10.2 62,355 9.1 56,901 8.5
North America* ............................ 142,032 18.9 138,738 20.2 120,027 18.0
South America* ¶.......................... 8,491 1.1 13,097 1.9 17,200 2.6
749,801 100.0 687,608 100.0 666,072 100.0
Add: Hong Kong SAR
Government certificates of
indebtedness .............................. 9,445 8,637 8,193
Total assets.................................... 759,246 696,245 674,265
* In 2000 included within total assets in Europe, North America, South America and the rest of Asia-Pacific are amounts of
US$67,784 million, US$788 million, US$2,179 million and US$1,130 million, respectively in relation to businesses acquired that
year.
Net assets:
At 31 December 2002 At 31 December 2001†At 31 December 2000†
US$m % US$m % US$m %
Europe........................................... 31,230 59.5 28,650 61.7 28,531 61.5
Hong Kong.................................... 9,774 18.7 9,683 20.9 8,782 18.9
Rest of Asia-Pacific ...................... 3,811 7.3 3,369 7.3 3,308 7.1
North America .............................. 7,613 14.5 4,906 10.6 4,586 9.9
South America ¶ ........................... (22) 0.0 (220) (0.5) 1,186 2.6
Total net assets.............................. 52,406 100.0 46,388 100.0 46,393 100.0
†Figures for 2000 and 2001 have been restated to reflect adoption of the 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.
¶Formerly described as Latin America, which included Group entities in Panama and Mexico, which are now included in North
America. Figures for 2001 and 2000 have been restated to reflect this change.