HSBC 2003 Annual Report Download - page 288

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
286
31 Other liabilities
2003 2002
US$m US$m
Short positions in securities
Debt securities:
Government securities ................................................................................................................ 23,881 17,141
Other public sector securities ...................................................................................................... 27 89
Other debt securities ................................................................................................................... 3,856 2,336
27,764 19,566
Treasury bills and other eligible bills .............................................................................................. 935 1,270
Equity shares ................................................................................................................................... 1,428 1,470
30,127 22,306
Liabilities, including losses, resulting from off-balance sheet interest rate,
exchange rate and equities contracts which are marked-to-market .................................................. 28,534 22,306
Current taxation .................................................................................................................................. 2,069 1,463
Obligations under finance leases ......................................................................................................... 585 346
Dividend payable by HSBC Holdings ................................................................................................. 3,936 3,069
Long-term assurance liabilities attributable to policyholders (Note 27) .............................................. 15,774 10,356
Other liabilities .................................................................................................................................... 13,644 12,244
94,669 72,090
Short positions in debt securities are in respect of securities
– due within 1 year ........................................................................................................................ 1,317 1,890
– due 1 year and over ..................................................................................................................... 26,447 17,676
27,764 19,566
– listed ........................................................................................................................................... 23,986 12,121
– unlisted ....................................................................................................................................... 3,778 7,445
27,764 19,566
Obligations under finance leases fall due
– within 1 year ............................................................................................................................... 25 42
– between 1 and 5 years ................................................................................................................. 20 22
– over 5 years ................................................................................................................................. 540 282
585 346
32 Provisions for liabilities and charges
(a) Deferred taxation
HSBC
HSBC
Holdings
US$m US$m
At 1 January 2003 .......................................................................................................................... 19 93
Release to profit and loss account (Note 8) ....................................................................................(37
)
–
Movements arising from acquisitions and disposals ....................................................................... (1,201
)
–
Exchange and other movements ..................................................................................................... (53
)
–
At 31 December 2003 ................................................................................................................ (1,272
)
93
HSBC HSBC Holdings
2003 2002 2003 2002
US$m US$m US$m US$m
Included in ‘Provisions for liabilities and charges’ ......... 1,670 1,154 93 93
Included in ‘Other assets’ (Note 27) ............................... (2,942
)
(1,135
)
––
Net deferred taxation provision ....................................... (1,272
)
19 93 93
Comprising:
Accelerated capital allowances ................................... 116 115 ––
Timing differences on lease income ............................ 1,586 1,243 ––
Provision for bad and doubtful debts .......................... (2,828
)
(1,192
)
––
Relief for losses brought forward ................................ (231
)
(179
)
––
Other short-term timing differences ............................ 85 32 93 93
(1,272
)
19 93 93