HSBC 2003 Annual Report Download - page 235

HSBC HOLDINGS PLC
Financial Statements
233
Consolidated profit and loss account for the year ended 31 December 2003
2003 2002 2001
Notes Total Household
1
Rest of
HSBC
US$m US$m US$m US$m US$m
Interest receivable
– interest receivable and similar income
arising from debt securities.................. 6,947 60 6,887 7,253 8,590
– other interest receivable and similar
income ................................................ 33,021 10,326 22,695 21,342 26,671
Interest payable ...................................... (14,370
)
(2,081
)
(12,289
)
(13,135
)
(20,536
)
Net interest income ............................... 25,598 8,305 17,293 15,460 14,725
Dividend income .................................... 3222 12 210 278 186
Fees and commissions receivable ........... 12,560 1,674 10,886 9,245 8,756
Fees and commissions payable ............... (2,166
)
(458
)
(1,708
)
(1,421
)
(1,286
)
Dealing profits ........................................ 42,178 – 2,178 1,313 1,685
Other operating income .......................... 2,680 650 2,030 1,720 1,822
Operating income .................................. 741,072 10,183 30,889 26,595 25,888
Administrative expenses ......................... 5,7 (19,685
)
(3,296
)
(16,389
)
(13,764
)
(13,471
)
Depreciation and amortisation
– tangible fixed assets.............................. 25 (1,382
)
(99
)
(1,283
)
(1,190
)
(1,134
)
– intangible assets.................................... 24 (15
)
(11
)
(4
)
––
– goodwill................................................ 24 (1,450
)
(381
)
(1,069
)
(854
)
(799
)
Operating profit before provisions ...... 18,540 6,396 12,144 10,787 10,484
Provisions for bad and doubtful debts ..... 17 (6,093
)
(4,575
)
(1,518
)
(1,321
)
(2,037
)
Provisions for contingent liabilities and
commitments ...................................... 32 (35
)
–(35
)
(39
)
(649
)
Loss from foreign currency
redenomination in Argentina ............... 6(9
)
–(9
)
(68
)
(520
)
Amounts written off fixed asset
investments ......................................... (106
)
–(106
)
(324
)
(125
)
Operating profit .................................... 12,297 1,821 10,476 9,035 7,153
Share of operating loss in joint ventures.. (116
)
–(116
)
(28
)
(91
)
Share of operating profit in associates ... 221 – 221 135 164
Gains/(losses) on disposal of
– investments .......................................... 451 6 445 532 754
– tangible fixed assets ............................ (37
)
–(37
)
(24
)
20
Profit on ordinary activities before tax 712,816 1,827 10,989 9,650 8,000
Tax on profit on ordinary activities ........ 8(3,120
)
(463
)
(2,657
)
(2,534
)
(1,988
)
Profit on ordinary activities after tax .. 9,696 1,364 8,332 7,116 6,012
Minority interests
– equity .................................................. (487
)
–(487
)
(505
)
(579
)
– non-equity ........................................... (435
)
–(435
)
(372
)
(441
)
Profit attributable to shareholders ...... 8,774 1,364 7,410 6,239 4,992
Dividends ............................................... 10 (6,532
)
(5,001
)
(4,467
)
Retained profit for the period............... 2,242 1,238 525
US$ US$ US$
Basic earnings per ordinary share ........... 11 0.84 0.67 0.54
Diluted earnings per ordinary share ........ 11 0.83 0.66 0.53
Dividends per ordinary share .................. 10 0.60 0.53 0.48
Movements in reserves are set out in Note 36.
The accompanying notes are an integral part of the Consolidated Financial Statements.
All results are from continuing operations.
1The results of Household cover the period since the date of acquisition, 28 March, 2003.