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2008 Interim Report Section 1

5th Aug 2008 07:00

RNS Number : 6205A
HSBC Holdings PLC
04 August 2008
 



15 Equity

Half-year to 30 June 2008

Other reserves

Called up share capital

Share

 premium1

Other equity instru-ments

Retained

 earnings2

Available- for-sale fair value reserve

Cash flow hedging

 reserve3

Foreign exchange reserve

Share-

based payment reserve

Merger

 reserve4

Total share-holders' equity

Minority interests

Total equity

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

At 1 January 

5,915 

8,134 

-

81,097 

850 

(917)

10,055 

1,968 

21,058 

128,160 

7,256 

135,416 

Shares issued under employee share plans 

2 

50 

-

-

-

-

-

-

-

52 

-

52 

Shares issued in lieu of dividends and amounts arising thereon1 

 

86 

(87)

-

2,489 

-

-

-

-

-

2,488 

-

2,488 

Capital securities issued during the period5 

 

-

-

2,134 

-

-

-

-

-

-

2,134 

-

2,134 

Profit for the period 

-

-

-

7,722 

-

-

-

-

-

7,722 

584 

8,306 

Dividends to shareholders 

-

-

-

(6,823)

-

-

-

-

-

(6,823)

(506)

(7,329)

Own shares adjustment 

-

-

-

(985)

-

-

-

-

-

(985)

-

(985)

Share of changes recognised directly in equity in the equity of associates or joint ventures 

-

-

-

(342)

-

-

-

-

-

(342)

-

(342)

Actuarial losses on defined benefit plans

-

-

-

(883)

-

-

-

-

-

(883)

(27)

(910)

Exchange differences 

-

-

-

3,085 

26 

(10)

21

-

-

3,122 

48 

3,170 

Fair value gains/(losses) taken to equity 

-

-

-

-

(8,292)

912

-

-

-

(7,380)

(181)

(7,561)

Amounts transferred to the income statement 

-

-

-

-

(900)

(1,123)

-

-

-

(2,023)

(31)

(2,054)

Impairments taken to the income statement 

-

-

-

-

384

-

-

-

-

384

-

384

Exercise and lapse of share options and vesting of share awards 

-

-

-

500 

-

-

-

(587)

-

(87)

-

(87)

Cost of share-based payment arrangements 

-

-

-

-

-

-

-

427

-

427

-

427

Other movements 

-

-

-

15 

(30)

(12)

-

(77)

-

(104)

(5)

(109)

Tax on items taken directly to or transferred  from equity 

-

-

-

203

696

24

-

-

-

923 

13 

936 

Transfers 

-

-

-

(3,088)

(26)

10 

3,104 

-

-

-

-

-

Net increase in minority interests arising on acquisitions, disposals and capital issuance 

-

-

-

-

-

-

-

-

-

-

75 

75 

At 30 June  

6,003 

8,097 

2,134 

82,990

(7,292)

(1,116)

13,180 

1,731 

21,058 

126,785 

7,226 

134,011 

Cumulative goodwill amounting to US$5,138 million has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including US$3,469 million charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of US$1,669 million was charged against retained earnings.

For footnotes, see page 231

.

Half-year to 30 June 2007

Other reserves

Called up share capital

Share

premium1

 

Retained

 earnings2

 

Available- for-sale fair value reserve

Cash flow hedging

 reserve3

Foreign exchange reserve

Share-

based payment reserve

Merger

 reserve4

 

Total share-holders' equity

Minority interests

Total equity

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

At 1 January 

5,786 

7,789 

65,397 

2,005 

(101)

4,307 

2,111 

21,058 

108,352 

6,576 

114,928 

Shares issued under employee share plans 

4 

114 

-

-

-

-

-

-

118 

-

118 

Shares issued in lieu of dividends and amounts  arising thereon1 

67 

(69)

2,828 

-

-

-

-

-

2,826 

-

2,826 

Profit for the period 

-

-

10,895 

-

-

-

-

-

10,895 

619 

11,514 

Dividends to shareholders 

-

-

(6,192)

-

-

-

-

-

(6,192)

(474)

(6,666)

Own shares adjustment 

-

-

(587)

-

-

-

-

-

(587)

-

(587)

Share of changes recognised directly in equity in the equity of associates or joint ventures 

-

-

186 

-

-

-

-

-

186 

-

186 

Actuarial gains on defined benefit plans 

-

-

2,004 

-

-

-

-

-

2,004 

24 

2,028 

Exchange differences 

-

-

1,964 

231 

(9)

13 

14 

-

2,213 

80 

2,293 

Fair value gains taken to equity 

-

-

-

1,055 

402 

-

-

-

1,457 

100 

1,557 

Amounts transferred to the income statement 

-

-

-

(775)

(576)

-

-

-

(1,351)

-

(1,351)

Exercise and lapse of share options and vesting of share awards 

-

-

477 

-

-

-

(443)

-

34 

-

34 

Cost of share-based payment arrangements 

-

-

-

-

-

-

413 

-

413 

-

413 

Other movements 

-

-

(119)

(12)

(2)

-

(1)

-

(134)

(113)

(247)

Tax on items taken directly to or transferred from equity 

-

-

(638)

130 

54 

-

-

-

(454)

(1)

(455)

Transfers 

-

-

(1,964)

(231)

9 

2,200 

(14)

-

-

-

-

Net decrease in minority interests arising on acquisitions, disposals and capital issuance 

-

-

-

-

-

-

-

-

-

(100)

(100)

At 30 June 

5,857 

7,834 

74,251 

2,403 

(223)

6,520 

2,080 

21,058 

119,780 

6,711 

126,491 

Cumulative goodwill amounting to US$5,138 million has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including US$3,469 million charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of US$1,669 million was charged against retained earnings.

For footnotes, see page 231.

Half-year to 31 December 2007

Other reserves

Called up share capital

Share

 premium1

 

Retained

 earnings2

 

Available- for-sale fair value reserve

Cash flow hedging

 reserve3

 

Foreign exchange reserve

Share-

based payment reserve

Merger

 reserve4

 

Total share-holders' equity

Minority interests

Total equity

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

US$m

At 1 July 

5,857 

7,834 

74,251 

2,403 

(223)

6,520 

2,080 

21,058 

119,780 

6,711 

126,491 

Shares issued under employee share plans 

13

346

-

-

-

-

-

-

359

-

359

Shares issued in lieu of dividends and amounts arising thereon1 

45

(46)

1,526

-

-

-

-

-

1,525

-

1,525

Profit for the period 

-

-

8,238

-

-

-

-

-

8,238

703

8,941

Dividends to shareholders 

-

-

(4,049)

-

-

-

-

-

(4,049)

(314)

(4,363)

Own shares adjustment 

-

-

77

-

-

-

-

-

77

-

77

Share of changes recognised directly in equity in the equity of associates or joint ventures 

-

-

186

-

-

-

-

-

186

-

186

Actuarial gains/(losses) on defined benefit plans 

-

-

230

-

-

-

-

-

230

(91)

139

Exchange differences 

-

-

3,495

60

(19)

13

(14)

-

3,535

118

3,653

Fair value gains/(losses) taken to equity 

-

-

-

(529)

214

-

-

-

(315)

139

(176)

Amounts transferred to the income statement 

-

-

-

(938)

(1,323)

-

-

-

(2,261)

(14)

(2,275)

Exercise and lapse of share options and vesting of share awards 

-

-

281

-

-

-

(308)

-

(27)

-

(27)

Cost of share-based payment arrangements 

-

-

-

-

-

-

457

-

457

-

457

Other movements 

-

-

439

13

(4)

-

(261)

-

187

22

209

Tax on items taken directly to or transferred from equity 

-

-

(82)

(99)

419

-

-

-

238

(9)

229

Transfers 

-

-

(3,495)

(60)

19

3,522

14

-

-

-

-

Net decrease in minority interests arising on acquisitions, disposals and capital issuance 

-

-

-

-

-

-

-

-

-

(9)

(9)

At 31 December 

5,915

8,134

81,097

850

(917)

10,055

1,968

21,058

128,160

7,256

135,416

Cumulative goodwill amounting to US$5,138 million has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including US$3,469 million charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of US$1,669 million was charged against retained earnings.

1 Share premium includes the deduction of US$1 million (30 June 2007: US$2 million; 31 December 2007; US$1 million) in respect of issue costs incurred during the period.

2 Retained earnings include 187,083,746 (US$3,235 million) of own shares held within HSBC's insurance business, retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets (30 June 2007; 165,269,416 (US$2,692 million): 31 December 2007; 158,706,463 (US$2,649 million)). 30 June 2007 numbers have been restated to conform with the current period's presentation.

3 Amounts transferred to the income statement in respect of cash flow hedges include US$172 million income (30 June 2007; US$112 million income: 31 December 2007; US$55 million loss) taken to 'Net interest income' and US$962 million (30 June 2007; US$456 million: 31 December 2007; US$1,373 million) taken to 'Net trading income'.

4 Statutory share premium relief under Section 131 of the Companies Act 1985 was taken in respect of the acquisition of HSBC Bank plc in 1992, HSBC France in 2000 and HSBC Finance Corporation in 2003 and the shares issued were recorded at their nominal value only. In HSBC's consolidated accounts the fair value differences of US$8,290 million in respect of HSBC France and US$12,768 million in respect of HSBC Finance Corporation comprise the merger reserve.

5 During April 2008, HSBC Holdings issued US$2,200 million of Perpetual Subordinated Capital Securities ('Capital Securities') of which there were US$66 million of issuance costs, which are classified as equity under IFRSs. The Capital Securities are exchangeable at HSBC Holdings' option into non-cumulative dollar preference shares on any coupon payment date. Interest on the Capital Securities is paid quarterly and may be deferred at the discretion of HSBC Holdings. The Capital Securities may only be redeemed at the option of HSBC Holdings.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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