HSBC 2003 Annual Report Download - page 338

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
336
Note 2003 20021
US$m US$m
Shareholders’ equity
Shareholders’ funds (UK GAAP) ..................................................................................... 74,473 51,765
Lease financing ................................................................................................................(575
)
(406
)
Shareholders’ interest in long-term assurance fund .......................................................... b(1,532
)
(875
)
Pension costs .................................................................................................................... c(3,122
)
(2,522
)
Goodwill .......................................................................................................................... e1,072 2,575
Internal software costs ...................................................................................................... g718 669
Revaluation of property .................................................................................................... (1,949
)
(2,273
)
Purchase accounting adjustments ..................................................................................... h4,380 213
Accruals accounted derivatives ........................................................................................ i702 782
Fair value adjustment for securities available-for-sale ..................................................... k2,046 2,040
Own shares held ............................................................................................................... 140 92
Dividend payable ............................................................................................................. 2,627 3,069
Loan origination................................................................................................................217 –
Securitisations................................................................................................................... s739 –
Restructuring provisions ................................................................................................... 96 –
Taxation : US GAAP ..................................................................................................... m173 154
: on reconciling items ...................................................................................... (144
)
256
29 410
Minority interest in reconciling items .............................................................................. 190 292
Shareholders’ equity (US GAAP) .................................................................................... 80,251 55,831
1Figures for 2002 have been restated to reflect the adoption of UITF Abstracts 37 ‘Purchases and sales of own shares’, and 38
‘Accounting for ESOP trusts’, details of which are set out in Note 1.
Note 2003 2002 2001
US$m US$m US$m
Movement in shareholders’ equity (US GAAP)
Balance brought forward .................................................................. 55,831 48,444 48,072
Net income ....................................................................................... 7,231 4,900 4,911
Dividends ......................................................................................... (6,974
)
(4,632
)
(4,394
)
Stock based compensation ............................................................... d190 240 316
Shares issued in lieu in dividends ..................................................... 1,423 1,023 866
Equity issued on acquisition of Household under US GAAP ........... a14,366 ––
New share capital subscribed net of costs ........................................ 862 337 112
Other ................................................................................................ (79
)
17 –
Net change in net unrealised gains/(losses) on securities
available for sale, net of tax effect ............................................... 1,676 2,253 (271
)
Net change in net unrealised gains on derivatives classified as
cash flow hedges, net of tax effect ............................................... 367 86 52
Minimum pension liability adjustment, net of tax effect .................. c(1,127
)
(824
)
–
Exchange and other movements ....................................................... 6,485 3,987 (1,220
)
Total Other Comprehensive Income1 ................................................ 7,401 5,502 (1,439
)
Balance carried forward ................................................................... 80,251 55,831 48,444
1Movements in shareholders’ equity has been reclassified to disclose movements in Other Comprehensive Income by major component.