RBS 2006 Annual Report Download - page 225
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Financial statements
RBS Group • Annual Report and Accounts 2006
224
Notes on the accounts continued
47 Significant differences between IFRS and US GAAP (continued)
Pensions (continued)
Cash flows
The following pension payments, which reflect expected future service, as appropriate, are expected to be paid:
Main Other
scheme schemes Total
Change in benefit obligation: £m £m £m
2007 541 38 579
2008 555 40 595
2009 571 42 613
2010 589 46 635
2011 609 49 658
2012 – 2016 3,472 305 3,777
Amounts the Group expects to contribute to these pension plans in 2007 408 40 448
The estimated net actuarial loss and prior service cost for the schemes that will be amortised from the accumulated other
comprehensive income into net periodic pension cost in 2007 are £1 million and £209 million respectively.
The additional minimum liability included in accumulated other comprehensive income at 31 December 2005 was £4,457 million in
respect of the main scheme. Prior to the implementation of FAS 158 at 31 December 2006, this was £2,593 million.
48 Restatement of cash flow statements
The Group cash flow statements for the years ended 31 December 2005 and 2004 and the company cash flow statement for the
year ended 31 December 2005 have been restated to correct an inadvertent error in the calculation of the effects of foreign
exchange rate changes on cash and cash equivalents. No other caption is affected and the amount of cash and cash equivalents
is unchanged.
The tables below show the effect of the restatements:
(a) Cash flow statements 2005 2004
Previously Previously
reported Restated reported Restated
£m £m £m £m
Group
Elimination of foreign exchange differences and other non-cash items 338 (4,472) (767) 1,839
Net cash inflow from trading activities 11,380 6,570 8,123 10,729
Net cash flows from operating activities before tax 10,861 6,051 3,859 6,465
Net cash flows from operating activities 8,950 4,140 2,493 5,099
Effects of foreign exchange rate changes on cash and cash equivalents (3,107) 1,703 1,686 (920)
Company
Elimination of foreign exchange differences and other non-cash items (16) (134)
Net cash inflow from trading activities 2,499 2,381
Net cash flows from operating activities before tax 4,549 4,431
Net cash flows from operating activities 4,531 4,413
Effects of foreign exchange rate changes on cash and cash equivalents (76) 42
(b) Note 37 – Net cash inflow from operating activities 2005 2004
Previously Previously
reported Restated reported Restated
£m £m £m £m
Group
Elimination of foreign exchange differences and other non-cash items 1,493 (3,317) (1,994) 612
Net cash inflow from trading activities 11,380 6,570 8,123 10,729
Net cash flows from operating activities 8,950 4,140 2,493 5,099
Company
Elimination of foreign exchange differences and other non-cash items (28) (146)
Net cash inflow from trading activities 2,499 2,381
Net cash flows from operating activities 4,531 4,413
49 Post balance sheet events
There have been no significant events between the year end and the date of approval of these accounts which would require a
change to or disclosure in the accounts.