Consolidated statement of
comprehensive income

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Year ended 31 December Note 2012 £m 2011* £m

* The Group has adopted updated US GAAP requirements for deferred acquisition costs as an improvement to its accounting policy under IFRS 4 for those operations of the Group which measure insurance assets and liabilities substantially by reference to US GAAP principles. Accordingly, the 2011 comparative results and related notes have been adjusted from those previously published for the retrospective application of the change as if the new accounting policy had always applied, as described in note A5.

Profit for the year   2,197 1,419
Other comprehensive income:      
Exchange movements on foreign operations and net investment hedges:      
Exchange movements arising during the year B4 (214) (37)
Related tax   (2) (68)
    (216) (105)
Unrealised valuation movements on securities of US insurance operations classified as available-for-sale: D3(a)    
Unrealised holding gains arising during the year   930 912
Deduct net gains included in the income statement on disposal and impairment   (68) (101)
Total   862 811
Related change in amortisation of deferred acquisition costs H1(b) (270) (275)
Related tax   (205) (187)
    387 349
Other comprehensive income for the year, net of related tax   171 244
Total comprehensive income for the year   2,368 1,663
Attributable to:      
Equity holders of the Company   2,368 1,659
Non-controlling interests   4
Total comprehensive income for the year   2,368 1,663

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