HSBC 2002 Annual Report Download - page 295

293
The following tables summarise the significant adjustments to consolidated net income and shareholders’ equity
which would result from the application of US GAAP.
Note 2002 2001* 2000*
US$m US$m US$m US$m US$m US$m
NET INCOME
Attributable profit of HSBC (UK GAAP) ........... 6,239 4,992 6,457
Lease financing ........................................................ (68) (40) (53)
Debt swaps............................................................... a
–
497
Shareholders’ interest in long-term assurance fund b(6) (152) (140)
Pension costs............................................................ c(62) (26) (113)
Stock-based compensation ....................................... d(240) (316) (234)
Goodwill .................................................................. e845 (509) (312)
Internal software costs ............................................. f66 264 185
Revaluation of property............................................ 76 49 69
Purchase accounting adjustments............................. g15 (49) 68
Accruals accounted derivatives ................................ h221 280 116
Foreign exchange gains on available-for-sale
securities ..............................................................
i
(2,197) 312
–
Other-than-temporary decline in value of
available-for-sale securities..................................
j
(122) –
–
Foreign exchange losses on Argentine overseas
funding .................................................................
k
(390) –
–
Taxation : US GAAP .............................................. l(30) 188 112
: on reconciling items............................... 475 (122) (32)
445 66 80
Minority interest in reconciling items ...................... 78 36 16
Estimated net income (US GAAP)........................... 4,900 4,911 6,236
Per share amounts (US GAAP) US$ US$ US$
Basic earnings per ordinary share ............................ o0.52 0.53 0.71
Diluted earnings per ordinary share ......................... o0.52 0.53 0.70
Note 2002 2001*
US$m US$m US$m US$m
SHAREHOLDERS’ EQUITY
Shareholders’ funds (UK GAAP).............................................................. 52,406 46,388
Lease financing ......................................................................................... (406) (300)
Shareholders’ interest in long-term assurance fund................................... b(875) (798)
Pension costs............................................................................................. c(2,522) (1,157)
Goodwill ................................................................................................... e2,575 1,961
Internal software costs .............................................................................. f669 570
Revaluation of property............................................................................. (2,273) (2,681)
Purchase accounting adjustments.............................................................. g213 104
Accruals accounted derivatives ................................................................. h782 419
Fair value adjustment for securities available-for-sale .............................. j2,040 1,342
Own shares held........................................................................................ (549) (608)
Dividend payable ...................................................................................... 3,069 2,700
Taxation : US GAAP ............................................................................... l154 173
: on reconciling items................................................................ 256 (37)
410 136
Minority interest in reconciling items ....................................................... 292 368
Estimated shareholders’ equity (US GAAP) ............................................. 55,831 48,444
*Figures for 2001 and 2000 have been restated to reflect the adoption of UK Financial Reporting Standard 19 ‘Deferred Tax’ details
of which are set out in Note 1 on the Financial Statements on pages 195 to 197.