RBS 2010 Annual Report Download - page 342

21 Prepayments, accrued income and other assets
Group Company
2010 2009 2008 2010 2009 2008
£m £m £m £m £m £m
Prepayments 1,529 1,872 1,949 — — —
Accrued income 1,186 897 1,206 — — —
Deferred expenses 568 596 709 — — —
Pension schemes in net surplus 105 58 36 — — —
Other assets 9,188 17,562 20,502 28 43 489
12,576 20,985 24,402 28 43 489
22 Discontinued operations and assets and liabilities of disposal groups
(a) Loss from discontinued operations, net of tax
2010 2009 2008
£m £m £m
Discontinued operations
Total income 1,433 5,664 7,709
Operating expenses (803) (4,061) (20,544)
Insurance net claims (161) (500) (513)
Impairment losses (42) (1,051) (1,197)
Profit/(loss) before tax 427 52 (14,545)
Gain on disposal before recycling of reserves 113 — 3,859
Recycled reserves (1,076) — —
Operating (loss)/profit before tax (536) 52 (10,686)
Tax on profit/(loss) (92) (58) (48)
Tax on gain on disposal —— (33)
Loss after tax (628) (6) (10,767)
Businesses acquired exclusively with a view to disposal
Loss after tax (5) (99) (251)
Loss from discontinued operations, net of tax (633) (105) (11,018)
Discontinued operations reflect the results of the State of the Netherlands
and Santander in RFS Holdings B.V., following the legal separation of
ABN AMRO Bank N.V. on 1 April 2010. Consortium partners’ results are
classified as discontinued operations and prior years have been re-
presented accordingly. Discontinued operations in 2008 also reflect the
results of Banco Real sold to Santander on 24 July 2008.
Businesses acquired exclusively with a view to disposal comprise those
ABN AMRO businesses, including Banca Antonveneta, Asset
Management and Private Equity, classified as disposal groups on the
acquisition of ABN AMRO on 17 October 2007. The Asset Management
business was sold to Fortis on 3 April 2008. Banca Antonveneta,
excluding its subsidiary Interbanca, was sold to Banca Monte dei Paschi
di Siena S.p.A. on 30 May 2008.
(b) Cash flows attributable to discontinued operations
Included within the Group's cash flows are the following amounts attributable to discontinued operations:
2010 2009 2008
£m £m £m
Net cash flows from operating activities 2,528 (542) (7,497)
Net cash flows from investing activities 400 (264) 7,654
Net cash flows from financing activities 129 1,020 3,333
Net increase/(decrease) in cash and cash equivalents 3,062 (402) 4,946
RBS Group 2010340
Notes on the accounts continued