HSBC 2015 Annual Report Download - page 80

Report of the Directors: Geographical regions (continued)
Reconciliations / Europe
HSBC HOLDINGS PLC
78
Reconciliation of reported and adjusted items (continued)
2014
Europe Asia MENA
North
America
Latin
America Total UK
Hong
Kong
$m $m $m $m $m $m $m $m
Revenue1
Reported31 21,571 23,677 2,548 8,152 8,272 61,248 15,727 13,844
Currency translation31 (2,013) (680) (50) (252) (1,871) (4,775) (1,058) 4
Significant items 708 (48) (3) 116 (19) 754 353 (119)
–
DVA on derivative contracts 234 69 5 16 8 332 203 26
–
fair value movements on non-qualifying
hedges32 235 4 – 302 – 541 (8) 11
–
gain on sale of several tranches of real
estate secured accounts in the US – – – (168) – (168) – –
–
gain on sale of shareholding in Bank of
Shanghai – (428) – – – (428) – (428)
–
impairment of our investment in
Industrial Bank – 271 – – – 271 – 271
–
own credit spread4 (393) 4 6 (34)
–
(417) (474) 1
–
provisions arising from the ongoing
review of compliance with the
Consumer Credit Act in the UK 632 – – – – 632 632 –
–
(gain)/loss and trading results from
disposals and changes in ownership
levels – 32 (14) – (27) (9) – –
Adjusted31 20,266 22,949 2,495 8,016 6,382 57,227 15,022 13,729
LICs
Reported (764) (647) 6 (322) (2,124) (3,851) (214) (320)
Currency translation 104 26
–
13 540 683 4
–
Significant items
–
–
(2)
–
2
–
–
–
–
trading results from disposals and
changes in ownership levels – – (2) – 2 – – –
Adjusted (660) (621) 4 (309) (1,582) (3,168) (210) (320)
Operating expenses
Reported31 (20,217) (10,427) (1,216) (6,429) (5,932) (41,249) (15,576) (5,424)
Currency translation31 1,499 352 16 129 1,373 3,278 809 (1)
Significant items 2,601 58 33 578 125 3,395 2,553 56
–
charge in relation to the settlement
agreement with the Federal Housing
Finance Authority – – – 550 – 550 – –
–
regulatory provisions in GPB 16 49
–
–
–
65
–
49
–
restructuring and other related costs 123 9 2 28 116 278 91 7
–
settlements and provisions in
connection with legal matters 1,187 – – – – 1,187 1,187 –
–
UK customer redress programmes 1,275
–
–
–
–
1,275 1,275
–
–
trading results from disposals and
changes in ownership levels – – 31 – 9 40 – –
Adjusted31 (16,117) (10,017) (1,167) (5,722) (4,434) (34,576) (12,214) (5,369)
Share of profit in associates and joint ventures
Reported 6 2,022 488 16
–
2,532 7 42
Currency translation 1 (38)
–
(2)
–
(39) (1) (1)
Adjusted 7 1,984 488 14
–
2,493 6 41
Profit/(loss) before tax
Reported 596 14,625 1,826 1,417 216 18,680 (56) 8,142
Currency translation (409) (340) (34) (112) 42 (853) (246) 2
Significant items 3,309 10 28 694 108 4,149 2,906 (63)
–
revenue 708 (48) (3) 116 (19) 754 353 (119)
–
LICs
–
–
(2)
–
2
–
–
–
–
operating expenses 2,601 58 33 578 125 3,395 2,553 56
Adjusted 3,496 14,295 1,820 1,999 366 21,976 2,604 8,081
For footnotes, see page 99.