RBS 2011 Annual Report Download - page 43

RBS Group 2011 41
Summary consolidated income statement
for the year ended 31 December 2011
In the income statement on a managed basis set out below, movements in the fair value of own debt, Asset Protection Scheme, Payment Protection
Insurance costs, sovereign debt impairment, amortisation of purchased intangible assets, integration and restructuring costs, gain on redemption of own
debt, strategic disposals, bonus tax, bank levy, gains on pension curtailment, interest rate hedge adjustments on impaired available-for-sale Greek
government bonds, write-down of goodwill and other intangible assets and RFS Holdings minority interest are shown separately. In the statutory
consolidated income statement on page 307, these items are included in the appropriate captions.
Managed Statutory
2011 2010 2009 2011 2010 2009
£m £m £m £m £m £m
Net interest income 12,689 14,200 13,567 12,679 14,209 13,388
Fees and commissions receivable 6,384 8,194 8,738 6,384 8,193 8,738
Fees and commissions payable (1,460) (2,211) (2,790) (1,460) (2,211) (2,790)
Other non-interest income 5,908 7,351 4,786 7,078 6,549 8,424
Insurance net premium income 4,256 5,128 5,266 4,256 5,128 5,266
Non-interest income 15,088 18,462 16,000 16,258 17,659 19,638
Total income 27,777 32,662 29,567 28,937 31,868 33,026
Operating expenses (15,478) (16,710) (17,401) (18,026) (18,228) (17,417)
Profit before insurance net claims and impairment losses 12,299 15,952 12,166 10,911 13,640 15,609
Insurance net claims (2,968) (4,783) (4,357) (2,968) (4,783) (4,357)
Operating profit before impairment losses 9,331 11,169 7,809 7,943 8,857 11,252
Impairment losses (7,439) (9,256) (13,899) (8,709) (9,256) (13,899)
Operating profit/(loss) 1,892 1,913 (6,090) (766) (399) (2,647)
Fair value of own debt 1,846 174 (142) —— —
Asset Protection Scheme (906) (1,550) — —— —
Payment Protection Insurance costs (850) — — —— —
Sovereign debt impairment (1,099) — — —— —
Amortisation of purchased intangible assets (222) (369) (272) —— —
Integration and restructuring costs (1,064) (1,032) (1,286) —— —
Gain on redemption of own debt 255 553 3,790 —— —
Strategic disposals (104) 171 132 —— —
Bonus tax (27) (99) (208) —— —
Bank levy (300) — — —— —
Gains on pensions curtailment — —2,148 —— —
Interest rate hedge adjustments on impaired available-for-sale
Greek government bonds (169) — — —— —
Write-down of goodwill and other intangible assets (11) (10) (363) —— —
RFS Holdings minority interest (7) (150) (356) —— —
Loss before tax (766) (399) (2,647) (766) (399) (2,647)
Tax (charge)/credit (1,250) (634) 429 (1,250) (634) 429
Loss from continuing operations (2,016) (1,033) (2,218) (2,016) (1,033) (2,218)
Profit/(loss) from discontinued operations, net of tax 47 (633) (105) 47 (633) (105)
Loss for the year (1,969) (1,666) (2,323) (1,969) (1,666) (2,323)
Non-controlling interests (28) 665 (349) (28) 665 (349)
Other owners’ dividends — (124) (935) —(124) (935)
Loss attributable to ordinary and B shareholders (1,997) (1,125) (3,607) (1,997) (1,125) (3,607)