HSBC 2007 Annual Report Download - page 341

339
Consolidated statement of recognised income and expense for the year ended 31 December 2007
2007 2006 2005
US$m US$m US$m
Available-for-sale investments:
– fair value gains/(losses) taken to equity ................................................. 756 1,582 (400)
– fair value gains transferred to income statement on disposal or
impairment .............................................................................................. (1,740) (644) (240)
Cash flow hedges:
– fair value gains/(losses) taken to equity ................................................. 625 1,554 (92)
– fair value gains transferred to income statement .................................... (1,886) (2,198) (106)
Share of changes in equity of associates and joint ventures ........................... 372 20 161
Exchange differences ....................................................................................... 5,946 4,675 (4,257)
Actuarial gains/(losses) on defined benefit plans ........................................... 2,167 (78) (812)
6,240 4,911 (5,746)
Tax on items taken directly to equity .............................................................. (226) (44) 437
Total income and expense taken to equity during the year ............................. 6,014 4,867 (5,309)
Profit for the year ............................................................................................. 20,455 16,871 15,873
Total recognised income and expense for the year ......................................... 26,469 21,738 10,564
Effect of change in accounting policy
IFRSs transition adjustment at 1 January 20051 ......................................... – – (8,824)
26,469 21,738 1,740
Total recognised income and expense for the year attributable to:
– shareholders of the parent company ....................................................... 24,801 20,527 9,912
– minority interests .................................................................................... 1,668 1,211 652
26,469 21,738 10,564
1 For an explanation of the IFRSs transition adjustment at 1 January 2005, see Note 46 on the Financial Statements in the Annual Report
and Accounts 2005.
The accompanying notes on pages 344 to 452, the audited sections of the ‘Report of the Directors: The Management of Risk’ on pages
192 to 288, ‘Critical accounting policies’ on pages 132 to 134 and ‘Off-balance sheet arrangements and special purpose entities’ on pages
183 to 191 form an integral part of these financial statements.