13th Aug 2010 16:45
Consolidated income statement for the half-year to 30 June 2010
|
|
|
Half-year to |
||||
|
|
|
30 June 2010 |
|
30 June 2009 |
|
31 December 2009 |
|
|
Notes |
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
Interest income ................................................................................ |
|
28,686 |
|
32,479 |
|
29,617 |
|
Interest expense ............................................................................... |
|
(8,929) |
|
(11,941) |
|
(9,425) |
|
|
|
|
|
|
|
|
|
Net interest income ......................................................................... |
|
19,757 |
|
20,538 |
|
20,192 |
|
|
|
|
|
|
|
|
|
Fee income ...................................................................................... |
|
10,405 |
|
10,191 |
|
11,212 |
|
Fee expense ..................................................................................... |
|
(1,887) |
|
(1,763) |
|
(1,976) |
|
|
|
|
|
|
|
|
|
Net fee income ................................................................................ |
|
8,518 |
|
8,428 |
|
9,236 |
|
|
|
|
|
|
|
|
|
Trading income excluding net interest income ................................. |
|
2,309 |
|
4,301 |
|
1,935 |
|
Net interest income on trading activities .......................................... |
|
1,243 |
|
1,954 |
|
1,673 |
|
|
|
|
|
|
|
|
|
Net trading income .......................................................................... |
|
3,552 |
|
6,255 |
|
3,608 |
|
|
|
|
|
|
|
|
|
Changes in fair value of long-term debt issued and related derivatives ..................................................................................................... |
|
1,125 |
|
(2,300) |
|
(3,947) |
|
Net income/(expense) from other financial instruments designated at fair value ..................................................................................... |
|
(40) |
|
777 |
|
1,939 |
|
|
|
|
|
|
|
|
|
Net income/(expense) from financial instruments designated at fair value ..................................................................................... |
|
1,085 |
|
(1,523) |
|
(2,008) |
|
Gains less losses from financial investments ..................................... |
|
557 |
|
323 |
|
197 |
|
Dividend income .............................................................................. |
|
59 |
|
57 |
|
69 |
|
Net earned insurance premiums ........................................................ |
|
5,666 |
|
5,012 |
|
5,459 |
|
Other operating income ................................................................... |
|
1,478 |
|
1,158 |
|
1,630 |
|
|
|
|
|
|
|
|
|
Total operating income ................................................................ |
|
40,672 |
|
40,248 |
|
38,383 |
|
|
|
|
|
|
|
|
|
Net insurance claims incurred and movement in liabilities to policyholders ........................................................................... |
|
(5,121) |
|
(5,507) |
|
(6,943) |
|
|
|
|
|
|
|
|
|
Net operating income before loan impairment charges and other credit risk provisions ..................................................... |
|
35,551 |
|
34,741 |
|
31,440 |
|
|
|
|
|
|
|
|
|
Loan impairment charges and other credit risk provisions ................ |
|
(7,523) |
|
(13,931) |
|
(12,557) |
|
|
|
|
|
|
|
|
|
Net operating income ................................................................... |
|
28,028 |
|
20,810 |
|
18,883 |
|
|
|
|
|
|
|
|
|
Employee compensation and benefits .............................................. |
|
(9,806) |
|
(9,207) |
|
(9,261) |
|
General and administrative expenses ................................................ |
|
(7,014) |
|
(6,258) |
|
(7,134) |
|
Depreciation and impairment of property, plant and equipment ...... |
|
(834) |
|
(814) |
|
(911) |
|
Amortisation and impairment of intangible assets ............................ |
|
(457) |
|
(379) |
|
(431) |
|
|
|
|
|
|
|
|
|
Total operating expenses ............................................................. |
|
(18,111) |
|
(16,658) |
|
(17,737) |
|
|
|
|
|
|
|
|
|
Operating profit ........................................................................... |
|
9,917 |
|
4,152 |
|
1,146 |
|
|
|
|
|
|
|
|
|
Share of profit in associates and joint ventures ................................. |
|
1,187 |
|
867 |
|
914 |
|
|
|
|
|
|
|
|
|
Profit before tax ............................................................................ |
|
11,104 |
|
5,019 |
|
2,060 |
|
|
|
|
|
|
|
|
|
Tax expense .................................................................................... |
6 |
(3,856) |
|
(1,286) |
|
901 |
|
|
|
|
|
|
|
|
|
Profit for the period ..................................................................... |
|
7,248 |
|
3,733 |
|
2,961 |
|
|
|
|
|
|
|
|
|
Profit attributable to shareholders of the parent company ............... |
|
6,763 |
|
3,347 |
|
2,487 |
|
Profit attributable to non-controlling interests ................................. |
|
485 |
|
386 |
|
474 |
|
|
|
|
|
|
|
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
|
|
|
|
|
|
|
Basic earnings per ordinary share ..................................................... |
4 |
0.38 |
|
0.21 |
|
0.13 |
|
Diluted earnings per ordinary share .................................................. |
4 |
0.38 |
|
0.21 |
|
0.13 |
The accompanying notes on pages 212 to 232 and 'Fair values of financial instruments' on pages 114 to 125 form an integral part of these financial statements.
Consolidated statement of comprehensive income for the half-year to 30 June 2010
|
|
Half-year to |
||||
|
|
30 June |
|
30 June |
|
31 December |
|
|
2010 |
|
2009 |
|
2009 |
|
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
, |
|
|
|
Profit for the period ........................................................................... |
7,248 |
|
3,733 |
|
2,961 |
|
|
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
|
|
Available-for-sale investments ........................................................... |
4,206 |
|
3,870 |
|
6,947 |
|
- fair value gains/(losses) ............................................................... |
4,698 |
|
4,067 |
|
5,754 |
|
- fair value (gains)/losses transferred to income statement on disposal .................................................................................................... |
(574) |
|
(720) |
|
72 |
|
- amounts transferred to the income statement in respect of impairment losses ....................................................................... |
678 |
|
872 |
|
1,519 |
|
- income taxes .............................................................................. |
(596) |
|
(349) |
|
(398) |
|
|
|
|
|
|
|
|
Cash flow hedges ................................................................................ |
(45) |
|
452 |
|
320 |
|
- fair value gains/(losses) taken to equity ....................................... |
(1,687) |
|
(111) |
|
592 |
|
- fair value (gains)/losses transferred to income statement ............. |
1,644 |
|
856 |
|
(48) |
|
- income taxes .............................................................................. |
(2) |
|
(293) |
|
(224) |
|
|
|
|
|
|
|
|
Actuarial gains/(losses) on defined benefit plans .................................. |
(60) |
|
(2,609) |
|
1 |
|
- before income taxes .................................................................... |
(82) |
|
(3,578) |
|
(8) |
|
- income taxes .............................................................................. |
22 |
|
969 |
|
9 |
|
|
|
|
|
|
|
|
Share of other comprehensive income of associates and joint ventures |
73 |
|
105 |
|
44 |
|
Exchange differences .......................................................................... |
(6,128) |
|
3,450 |
|
1,525 |
|
|
|
|
|
|
|
|
Other comprehensive income for the period, net of tax ..................... |
(1,954) |
|
5,268 |
|
8,837 |
|
|
|
|
|
|
|
|
Total comprehensive income for the period ....................................... |
5,294 |
|
9,001 |
|
11,798 |
|
|
|
|
|
|
|
|
Total comprehensive income for the period attributable to: |
|
|
|
|
|
|
- shareholders of the parent company ........................................... |
4,901 |
|
8,397 |
|
11,132 |
|
- non-controlling interests ............................................................ |
393 |
|
604 |
|
666 |
|
|
|
|
|
|
|
|
|
5,294 |
|
9,001 |
|
11,798 |
The accompanying notes on pages 212 to 232 and 'Fair values of financial instruments' on pages 114 to 125 form an integral part of these financial statements.
Consolidated balance sheet at 30 June 2010
|
|
|
At 30 June |
|
At 30 June |
|
At 31 December |
|
|
|
2010 |
|
2009 |
|
2009 |
|
|
Notes |
US$m |
|
US$m |
|
US$m |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and balances at central banks ............................................ |
|
71,576 |
|
56,368 |
|
60,655 |
|
Items in the course of collection from other banks ................... |
|
11,195 |
|
16,613 |
|
6,395 |
|
Hong Kong Government certificates of indebtedness ................ |
|
18,364 |
|
16,156 |
|
17,463 |
|
Trading assets ........................................................................... |
7 |
403,800 |
|
414,358 |
|
421,381 |
|
Financial assets designated at fair value ..................................... |
8 |
32,243 |
|
33,361 |
|
37,181 |
|
Derivatives ............................................................................... |
9 |
288,279 |
|
310,796 |
|
250,886 |
|
Loans and advances to banks .................................................... |
|
196,296 |
|
182,266 |
|
179,781 |
|
Loans and advances to customers ............................................. |
|
893,337 |
|
924,683 |
|
896,231 |
|
Financial investments ............................................................... |
10 |
385,471 |
|
353,444 |
|
369,158 |
|
Other assets .............................................................................. |
11 |
42,140 |
|
34,250 |
|
44,534 |
|
Current tax assets ..................................................................... |
|
1,070 |
|
1,201 |
|
2,937 |
|
Prepayments and accrued income ............................................. |
|
11,586 |
|
14,486 |
|
12,423 |
|
Interests in associates and joint ventures .................................. |
|
15,701 |
|
12,316 |
|
13,011 |
|
Goodwill and intangible assets ................................................... |
|
27,859 |
|
29,105 |
|
29,994 |
|
Property, plant and equipment ................................................. |
|
13,291 |
|
14,573 |
|
13,802 |
|
Deferred tax assets ................................................................... |
|
6,246 |
|
7,867 |
|
8,620 |
|
|
|
|
|
|
|
|
|
Total assets .............................................................................. |
|
2,418,454 |
|
2,421,843 |
|
2,364,452 |
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
Hong Kong currency notes in circulation .................................. |
|
18,364 |
|
16,156 |
|
17,463 |
|
Deposits by banks ..................................................................... |
|
127,316 |
|
129,151 |
|
124,872 |
|
Customer accounts ................................................................... |
|
1,147,321 |
|
1,163,343 |
|
1,159,034 |
|
Items in the course of transmission to other banks ................... |
|
11,976 |
|
16,007 |
|
5,734 |
|
Trading liabilities ...................................................................... |
12 |
274,836 |
|
264,562 |
|
268,130 |
|
Financial liabilities designated at fair value ................................ |
13 |
80,436 |
|
77,314 |
|
80,092 |
|
Derivatives ............................................................................... |
9 |
287,014 |
|
298,876 |
|
247,646 |
|
Debt securities in issue .............................................................. |
|
153,600 |
|
156,199 |
|
146,896 |
|
Other liabilities ......................................................................... |
|
71,732 |
|
70,125 |
|
68,640 |
|
Current tax liabilities ................................................................ |
|
2,558 |
|
2,274 |
|
2,140 |
|
Liabilities under insurance contracts ......................................... |
|
52,516 |
|
48,184 |
|
53,707 |
|
Accruals and deferred income ................................................... |
|
12,174 |
|
13,184 |
|
13,190 |
|
Provisions ................................................................................ |
|
1,828 |
|
1,949 |
|
1,965 |
|
Deferred tax liabilities .............................................................. |
|
1,264 |
|
1,849 |
|
1,837 |
|
Retirement benefit liabilities ..................................................... |
|
3,949 |
|
7,238 |
|
6,967 |
|
Subordinated liabilities .............................................................. |
|
28,247 |
|
30,134 |
|
30,478 |
|
|
|
|
|
|
|
|
|
Total liabilities ......................................................................... |
|
2,275,131 |
|
2,296,545 |
|
2,228,791 |
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
|
Called up share capital .............................................................. |
|
8,755 |
|
8,658 |
|
8,705 |
|
Share premium account ............................................................ |
|
8,423 |
|
8,390 |
|
8,413 |
|
Other equity instruments .......................................................... |
|
5,851 |
|
2,133 |
|
2,133 |
|
Other reserves .......................................................................... |
|
19,989 |
|
19,186 |
|
22,236 |
|
Retained earnings ..................................................................... |
|
92,925 |
|
79,988 |
|
86,812 |
|
|
|
|
|
|
|
|
|
Total shareholders' equity ........................................................ |
|
135,943 |
|
118,355 |
|
128,299 |
|
Non-controlling interests ......................................................... |
|
7,380 |
|
6,943 |
|
7,362 |
|
|
|
|
|
|
|
|
|
Total equity ............................................................................. |
|
143,323 |
|
125,298 |
|
135,661 |
|
|
|
|
|
|
|
|
|
Total equity and liabilities ........................................................ |
|
2,418,454 |
|
2,421,843 |
|
2,364,452 |
The accompanying notes on pages 212 to 232 and 'Fair values of financial instruments' on pages 114 to 125 form an integral part of these financial statements.
Consolidated statement of cash flows for the half-year to 30 June 2010
|
|
|
Half-year to |
||||
|
|
Notes |
30 June 2010 |
|
30 June 2009 |
|
31 December 2009 |
|
|
|
US$m |
|
US$m |
|
US$m |
|
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
Profit before tax .............................................................................. |
|
11,104 |
|
5,019 |
|
2,060 |
|
|
|
|
|
|
|
|
|
Adjustments for: |
|
|
|
|
|
|
|
- non-cash items included in profit before tax ............................. |
15 |
9,553 |
|
16,255 |
|
15,129 |
|
- change in operating assets ........................................................ |
15 |
14,130 |
|
(37,279) |
|
16,476 |
|
- change in operating liabilities ................................................... |
15 |
(1,389) |
|
22,246 |
|
(7,601) |
|
- elimination of exchange differences1 ........................................ |
|
17,993 |
|
(7,878) |
|
(11,146) |
|
- net gain from investing activities ............................................. |
|
(1,111) |
|
(911) |
|
(999) |
|
- share of profit in associates and joint ventures ......................... |
|
(1,187) |
|
(867) |
|
(914) |
|
- dividends received from associates ............................................ |
|
198 |
|
195 |
|
219 |
|
- contributions paid to defined benefit plans ................................ |
|
(2,899) |
|
(440) |
|
(534) |
|
- tax paid .................................................................................... |
|
(247) |
|
118 |
|
(2,250) |
|
|
|
|
|
|
|
|
|
Net cash generated from/(used in) operating activities ...................... |
|
46,145 |
|
(3,542) |
|
10,440 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Purchase of financial investments .................................................... |
|
(199,567) |
|
(163,988) |
|
(140,641) |
|
Proceeds from the sale and maturity of financial investments .......... |
|
178,272 |
|
112,927 |
|
128,414 |
|
Purchase of property, plant and equipment ...................................... |
|
(739) |
|
(781) |
|
(1,219) |
|
Proceeds from the sale of property, plant and equipment ................. |
|
3,338 |
|
2,203 |
|
2,498 |
|
Proceeds from the sale of loan portfolios ......................................... |
|
929 |
|
3,961 |
|
891 |
|
Net purchase of intangible assets ...................................................... |
|
(521) |
|
(463) |
|
(493) |
|
Net cash outflow from acquisition of subsidiaries .............................. |
|
(34) |
|
(574) |
|
(103) |
|
Net cash inflow from disposal of subsidiaries .................................... |
|
191 |
|
- |
|
45 |
|
Net cash outflow from acquisition of or increase in stake of associates ..................................................................................................... |
|
(563) |
|
(20) |
|
(42) |
|
Proceeds from disposal of associates and joint ventures .................... |
|
171 |
|
308 |
|
- |
|
|
|
|
|
|
|
|
|
Net cash used in investing activities ................................................. |
|
(18,523) |
|
(46,427) |
|
(10,650) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Issue of ordinary share capital .......................................................... |
|
- |
|
18,181 |
|
217 |
|
- rights issue ................................................................................. |
|
- |
|
18,179 |
|
147 |
|
- other ......................................................................................... |
|
- |
|
2 |
|
70 |
|
|
|
|
|
|
|
|
|
Issue of other equity instruments....................................................... |
|
3,718 |
|
- |
|
- |
|
Net (purchases)/sales of own shares for market-making and investment purposes ....................................................................................... |
|
61 |
|
(51) |
|
(125) |
|
(Purchases)/sales of own shares to meet share awards and share option awards ............................................................................... |
|
19 |
|
(62) |
|
11 |
|
On exercise of share options ............................................................ |
|
61 |
|
- |
|
12 |
|
Subordinated loan capital issued ........................................................ |
|
1,329 |
|
2,763 |
|
196 |
|
Subordinated loan capital repaid ....................................................... |
|
(2,408) |
|
(154) |
|
(4,483) |
|
Dividends paid to shareholders of the parent company ..................... |
|
(2,126) |
|
(2,426) |
|
(1,838) |
|
Dividends paid to non-controlling interests ...................................... |
|
(329) |
|
(433) |
|
(269) |
|
Dividends paid to holders of other equity instruments ...................... |
|
(134) |
|
(89) |
|
(180) |
|
|
|
|
|
|
|
|
|
Net cash generated from/(used in) financing activities ........... |
|
191 |
|
17,729 |
|
(6,459) |
|
|
|
|
|
|
|
|
|
Net increase/(decrease) in cash and cash equivalents ......................... |
|
27,813 |
|
(32,240) |
|
(6,669) |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at the beginning of the period .................. |
|
250,766 |
|
278,872 |
|
251,696 |
|
Exchange differences in respect of cash and cash equivalents ........... |
|
(12,669) |
|
5,064 |
|
5,739 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at the end of the period ........................... |
15 |
265,910 |
|
251,696 |
|
250,766 |
For footnote, see page 211.
The accompanying notes on pages 212 to 232 and 'Fair values of financial instruments' on pages 114 to 125 form an integral part of these financial statements.
Consolidated statement of changes in equity for the half-year to 30 June 2010
|
|
Half-year to 30 June 2010 |
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Other reserves |
|
|
|
|
|
|
||||||||
|
|
Called up share capital |
|
Share premium2 |
|
Other equity instru- ments |
|
Retained earnings3,4 |
|
Available- for-sale fair value reserve |
|
Cash flow hedging reserve5 |
|
Foreign exchange reserve |
|
Share- based payment reserve |
|
Merger reserve3,6 |
|
Total share- holders' equity |
|
Non- controlling 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 2010 ....................................... |
8,705 |
|
8,413 |
|
2,133 |
|
86,812 |
|
(9,965) |
|
(26) |
|
2,994 |
|
1,925 |
|
27,308 |
|
128,299 |
|
7,362 |
|
135,661 |
|
Profit for the period .................................... |
- |
|
- |
|
- |
|
6,763 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
6,763 |
|
485 |
|
7,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (net of tax) ... |
- |
|
- |
|
- |
|
28 |
|
4,151 |
|
(39) |
|
(6,002) |
|
- |
|
- |
|
(1,862) |
|
(92) |
|
(1,954) |
|
Available-for-sale investments .................... |
- |
|
- |
|
- |
|
- |
|
4,151 |
|
- |
|
- |
|
- |
|
- |
|
4,151 |
|
55 |
|
4,206 |
|
Cash flow hedges ......................................... |
- |
|
- |
|
- |
|
- |
|
- |
|
(39) |
|
- |
|
- |
|
- |
|
(39) |
|
(6) |
|
(45) |
|
Actuarial losses on defined benefit plans ...... |
- |
|
- |
|
- |
|
(45) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(45) |
|
(15) |
|
(60) |
|
Share of other comprehensive income of associates and joint ventures .................... |
- |
|
- |
|
- |
|
73 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
73 |
|
- |
|
73 |
|
Exchange differences ................................... |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(6,002) |
|
- |
|
- |
|
(6,002) |
|
(126) |
|
(6,128) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the period |
- |
|
- |
|
- |
|
6,791 |
|
4,151 |
|
(39) |
|
(6,002) |
|
- |
|
- |
|
4,901 |
|
393 |
|
5,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued under employee share plans ..... |
3 |
|
58 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
61 |
|
- |
|
61 |
|
Shares issued in lieu of dividends and amounts arising thereon2 ......................... |
47 |
|
(48) |
|
- |
|
1,584 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
1,583 |
|
- |
|
1,583 |
|
Capital securities issued during the period7 ... |
- |
|
- |
|
3,718 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
3,718 |
|
- |
|
3,718 |
|
Dividends to shareholders ............................ |
- |
|
- |
|
- |
|
(3,261) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(3,261) |
|
(409) |
|
(3,670) |
|
Tax credits on dividends .............................. |
- |
|
- |
|
- |
|
54 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
54 |
|
- |
|
54 |
|
Own shares adjustment ................................ |
- |
|
- |
|
- |
|
80 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
80 |
|
- |
|
80 |
|
Exercise and lapse of share options and vesting of share awards ............................ |
- |
|
- |
|
- |
|
736 |
|
- |
|
- |
|
- |
|
(855) |
|
- |
|
(119) |
|
- |
|
(119) |
|
Cost of share-based payment arrangements . |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
371 |
|
- |
|
371 |
|
- |
|
371 |
|
Income taxes on share-based payments ....... |
- |
|
- |
|
- |
|
(14) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(14) |
|
- |
|
(14) |
|
Other movements ....................................... |
- |
|
- |
|
- |
|
(30) |
|
294 |
|
8 |
|
(2) |
|
- |
|
- |
|
270 |
|
(1) |
|
269 |
|
Transfers ..................................................... |
- |
|
- |
|
- |
|
173 |
|
- |
|
- |
|
- |
|
(173) |
|
- |
|
- |
|
- |
|
- |
|
Change in ownership interest in subsidiaries . |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
35 |
|
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 30 June 2010 .......................................... |
8,755 |
|
8,423 |
|
5,851 |
|
92,925 |
|
(5,520) |
|
(57) |
|
(3,010) |
|
1,268 |
|
27,308 |
|
135,943 |
|
7,380 |
|
143,323 |
|
|
Half-year to 30 June 2009 |
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Other reserves |
|
|
|
|
|
|
||||||||
|
|
Called up share capital |
|
Share premium2 |
|
Other equity instru- ments |
|
Retained earnings3,4 |
|
Available- for-sale fair value reserve |
|
Cash flow hedging reserve5 |
|
Foreign exchange reserve |
|
Share- based payment reserve |
|
Merger reserve3,6 |
|
Total share- holders' equity |
|
Non- controlling 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 2009........................................ |
6,053 |
|
8,463 |
|
2,133 |
|
80,689 |
|
(20,550) |
|
(806) |
|
(1,843) |
|
1,995 |
|
17,457 |
|
93,591 |
|
6,638 |
|
100,229 |
|
Profit for the period .................................... |
- |
|
- |
|
- |
|
3,347 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
3,347 |
|
386 |
|
3,733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (net of tax) ... |
- |
|
- |
|
- |
|
(2,567) |
|
3,755 |
|
466 |
|
3,396 |
|
- |
|
- |
|
5,050 |
|
218 |
|
5,268 |
|
Available-for-sale investments .................... |
- |
|
- |
|
- |
|
- |
|
3,755 |
|
- |
|
- |
|
- |
|
- |
|
3,755 |
|
115 |
|
3,870 |
|
Cash flow hedges ......................................... |
- |
|
- |
|
- |
|
- |
|
- |
|
466 |
|
- |
|
- |
|
- |
|
466 |
|
(14) |
|
452 |
|
Actuarial gains/(losses) on defined benefit plans ........................................................ |
- |
|
- |
|
- |
|
(2,672) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(2,672) |
|
63 |
|
(2,609) |
|
Share of other comprehensive income of associates and joint ventures .................... |
- |
|
- |
|
- |
|
105 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
105 |
|
- |
|
105 |
|
Exchange differences ................................... |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
3,396 |
|
- |
|
- |
|
3,396 |
|
54 |
|
3,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the period |
- |
|
- |
|
- |
|
780 |
|
3,755 |
|
466 |
|
3,396 |
|
- |
|
- |
|
8,397 |
|
604 |
|
9,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued under employee share plans ..... |
- |
|
3 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
3 |
|
- |
|
3 |
|
Shares issued in lieu of dividends and amounts arising thereon2 ......................... |
75 |
|
(75) |
|
- |
|
814 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
814 |
|
- |
|
814 |
|
Shares issued in respect of rights issue .......... |
2,530 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
15,649 |
|
18,179 |
|
- |
|
18,179 |
|
Dividends to shareholders ............................ |
- |
|
- |
|
- |
|
(2,728) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(2,728) |
|
(513) |
|
(3,241) |
|
Own shares adjustment ................................ |
- |
|
- |
|
- |
|
(113) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(113) |
|
- |
|
(113) |
|
Exercise and lapse of share options and vesting of share awards ............................ |
- |
|
- |
|
- |
|
658 |
|
- |
|
- |
|
- |
|
(699) |
|
- |
|
(41) |
|
- |
|
(41) |
|
Cost of share-based payment arrangements . |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
355 |
|
- |
|
355 |
|
- |
|
355 |
|
Income tax on share based payments ........... |
- |
|
- |
|
- |
|
(9) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(9) |
|
- |
|
(9) |
|
Other movements ....................................... |
- |
|
(1) |
|
- |
|
(103) |
|
- |
|
- |
|
- |
|
11 |
|
- |
|
(93) |
|
12 |
|
(81) |
|
Change in ownership interest in subsidiaries . |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
202 |
|
202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 30 June 2009........................................... |
8,658 |
|
8,390 |
|
2,133 |
|
79,988 |
|
(16,795) |
|
(340) |
|
1,553 |
|
1,662 |
|
33,106 |
|
118,355 |
|
6,943 |
|
125,298 |
|
|
Half-year to 31 December 2009 |
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Other reserves |
|
|
|
|
|
|
||||||||
|
|
Called up share capital |
|
Share premium2 |
|
Other equity instru- ments |
|
Retained earnings3,4 |
|
Available- for-sale fair value reserve |
|
Cash flow hedging reserve5 |
|
Foreign exchange reserve |
|
Share- based payment reserve |
|
Merger reserve3,6 |
|
Total share- holders' equity |
|
Non- controlling 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 July 2009 ................................... |
8,658 |
|
8,390 |
|
2,133 |
|
79,988 |
|
(16,795) |
|
(340) |
|
1,553 |
|
1,662 |
|
33,106 |
|
118,355 |
|
6,943 |
|
125,298 |
|
Profit for the period .......................... |
- |
|
- |
|
- |
|
2,487 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
2,487 |
|
474 |
|
2,961 |
|
Other comprehensive income (net of tax) ................................................ |
- |
|
- |
|
- |
|
31 |
|
6,848 |
|
325 |
|
1,441 |
|
- |
|
- |
|
8,645 |
|
192 |
|
8,837 |
|
Available-for-sale investments ........... |
- |
|
- |
|
- |
|
- |
|
6,848 |
|
- |
|
- |
|
- |
|
- |
|
6,848 |
|
99 |
|
6,947 |
|
Cash flow hedges ................................ |
- |
|
- |
|
- |
|
- |
|
- |
|
325 |
|
- |
|
- |
|
- |
|
325 |
|
(5) |
|
320 |
|
Actuarial gains/(losses) on defined benefit plans .............................................. |
- |
|
- |
|
- |
|
(13) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(13) |
|
14 |
|
1 |
|
Share of other comprehensive income of associates and joint ventures ...... |
- |
|
- |
|
- |
|
44 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
44 |
|
- |
|
44 |
|
Exchange differences ......................... |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
1,441 |
|
- |
|
- |
|
1,441 |
|
84 |
|
1,525 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for period ............................................. |
- |
|
- |
|
- |
|
2,518 |
|
6,848 |
|
325 |
|
1,441 |
|
- |
|
- |
|
11,132 |
|
666 |
|
11,798 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued under employee share plans .............................................. |
4 |
|
66 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
70 |
|
- |
|
70 |
|
Shares issued in lieu of dividends and amounts arising thereon2 .............................. |
43 |
|
(44) |
|
- |
|
856 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
855 |
|
- |
|
855 |
|
Shares issued in respect of rights issue . |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
147 |
|
147 |
|
- |
|
147 |
|
Dividends to shareholders.................... |
- |
|
- |
|
- |
|
(2,911) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(2,911) |
|
(319) |
|
(3,230) |
|
Tax credits on dividends ..................... |
- |
|
- |
|
- |
|
50 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
50 |
|
- |
|
50 |
|
Own shares adjustment ....................... |
- |
|
- |
|
- |
|
(114) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(114) |
|
- |
|
(114) |
|
Exercise and lapse of share options and vesting of share awards ............................... |
- |
|
- |
|
- |
|
149 |
|
- |
|
- |
|
- |
|
(70) |
|
- |
|
79 |
|
- |
|
79 |
|
Cost of share-based payment arrangements .................................. |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
328 |
|
- |
|
328 |
|
- |
|
328 |
|
Income taxes on share-based payments ....................................................... |
- |
|
- |
|
- |
|
18 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
18 |
|
- |
|
18 |
|
Other movements .............................. |
- |
|
1 |
|
- |
|
313 |
|
(18) |
|
(11) |
|
- |
|
5 |
|
- |
|
290 |
|
65 |
|
355 |
|
Transfers ........................................... |
- |
|
- |
|
- |
|
5,945 |
|
- |
|
- |
|
- |
|
- |
|
(5,945) |
|
- |
|
- |
|
- |
|
Change in ownership interest in subsidiaries ...................................... |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
7 |
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2009 ........................ |
8,705 |
|
8,413 |
|
2,133 |
|
86,812 |
|
(9,965) |
|
(26) |
|
2,994 |
|
1,925 |
|
27,308 |
|
128,299 |
|
7,362 |
|
135,661 |
Dividends per ordinary share at 30 June 2010 were US$0.18 (30 June 2009: US$0.18; 31 December 2009: US$0.16).
For footnotes, see page 211.
The accompanying notes on pages 212 to 232 and 'Fair values of financial instruments' on pages 114 to 125 form an integral part of these financial statements.
Related Shares:
HSBC Holdings