HSBC 2003 Annual Report Download - page 298

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
296
HSBC
HSBC
Holdings Associates
US$m US$m US$m
Merger reserve:
At 1 January 2003 ......................................................................................... 8,290 ––
On acquisition of Household ......................................................................... 12,768 ––
At 31 December 2003 .................................................................................. 21,058 ––
Total other reserves ............................................................................................... 21,543 485 –
Revaluation reserves
Investment property revaluation reserve:
At 1 January 2003 ......................................................................................... 247 –44
Unrealised deficit on revaluation of land and buildings ................................ (38
)
–(10
)
Transfer to revaluation reserve ...................................................................... (1
)
––
Realisation on disposal of properties ............................................................ (2
)
––
Exchange and other movements ................................................................... 1––
At 31 December 2003 .................................................................................. 207 –34
Revaluation reserve:
At 1 January 2003 ......................................................................................... 1,707 36,883 6
Realisation on disposal of properties ............................................................ (28
)
––
Transfer from investment property revaluation reserve ................................ 1––
Unrealised deficit on revaluation of properties ............................................. (292
)
––
Transfer of depreciation from profit and loss account reserve ...................... (29
)
––
Net increase in attributable net assets of subsidiary undertakings
(Note 26 (a)).............................................................................................. – 20,195 –
Exchange and other movements ................................................................... 49 (37
)
2
At 31 December 2003 .................................................................................. 1,408 57,041 8
Total revaluation reserves ................................................................................. 1,615 57,041 42
Profit and loss account
At 1 January 2003.............................................................................................. 33,340 6,595 243
Retained profit/(loss) for the year ..................................................................... 2,242 (319
)
80
Revaluation reserve realised on disposal of properties ...................................... 30 ––
Arising on shares issued in lieu of dividends .................................................... 1,423 1,423 –
Transfer of depreciation to revaluation reserve ................................................. 29 ––
Amortisation of shares in restricted share plans ................................................ 19 14 –
Exchange and other movements ........................................................................ 5,268 –1
At 31 December 2003 ...................................................................................... 42,351 7,713 324
Included within the HSBC profit and loss account reserve at 31 December 2003 are retained losses of US$118
million (2002: US$136 million; 2001: US$119 million) attributable to interests in joint ventures.
HSBC
1
HSBC
Holdings1Associates
US$m US$m US$m
Share premium account
At 1 January 2002 ............................................................................................. 3,373 3,373 –
Shares issued to QUEST ................................................................................... 65 65 –
Shares issued under other employee option schemes ........................................ 254 254 –
Shares issued in lieu of dividends ..................................................................... (45
)
(45
)
–
At 31 December 2002 ....................................................................................... 3,647 3,647 –
Own shares held reserve
At 1 January 2002 ............................................................................................. (686
)
(571
)
–
Own shares acquired to meet share awards and share option awards ................ (5
)
(11
)
–
Own shares released on vesting of share awards and exercise of options .......... 45 42 –
At 31 December 2002 ....................................................................................... (646
)
(540
)
–