RBS 2012 Annual Report Download - page 105

RBS GROUP 2012
103
Income statement for the year ended 31 December 2011
Managed
Reallocation
of one-off
items
Direct Line
Group Statutory
£m £m £m £m
Net interest income 12,689 (10) (376) 12,303
Non-interest income (excluding insurance net premium income) 10,764 1,238 346 12,348
Insurance net premium income 4,256 — (4,256) —
Non-interest income 15,020 1,238 (3,910)12,348
Total income 27,709 1,228 (4,286) 24,651
Operating expenses (15,478) (2,548) 892 (17,134)
Profit before insurance net claims and impairment losses 12,231 (1,320) (3,394) 7,517
Insurance net claims (2,968) — 2,968 —
Operating profit before impairment losses 9,263 (1,320)(426) 7,517
Impairment losses (7,439) (1,270)2 (8,707)
Operating profit/(loss) 1,824 (2,590)(424) (1,190)
Own credit adjustments 1,914 (1,914) — —
Asset Protection Scheme (906) 906 — —
Payment Protection Insurance costs (850)850 — —
Sovereign debt impairment (1,099) 1,099 — —
Interest rate hedge adjustments on impaired available-for-sale sovereign debt (169) 169 — —
Amortisation of purchased intangible assets (222)222 — —
Integration and restructuring costs (1,064) 1,064 — —
Gain on redemption of own debt 255 (255) — —
Strategic disposals (104) 104 — —
Bank levy (300)300 — —
Bonus tax (27) 27 — —
Write-down of goodwill and other intangible assets (11)11 — —
RFS Holdings minority interest (7) 7 — —
Operating loss including the results of Direct Line Group discontinued operations (766) — (424) (1,190)
Direct Line Group discontinued operations (1) (424) — 424 —
Operating loss before tax (1,190)— — (1,190)
Tax charge (1,127) — — (1,127)
Loss from continuing operations (2,317) — — (2,317)
Profit from discontinued operations, net of tax
- Direct Line Group 301 — — 301
- Other 47 — — 47
Profit from discontinued operations, net of tax 348 — — 348
Loss for the year (1,969) — — (1,969)
Non-controlling interests (28) — — (28)
Loss attributable to ordinary and B shareholders (1,997) — — (1,997)
Note:
(1) Included within Direct Line Group discontinued operations are the managed basis divisional results of Direct Line Group (DLG), certain DLG related activities in Central items and Non-Core; and
related one-off and other items including integration and restructuring costs and strategic disposals.