Aviva 2013 Annual Report Download - page 107

Strategic report Governance IFRS Financial statements Other information
Aviva plc
Annual report and accounts 2013
105
IFRS financial statements
In this section
Independent auditors’ report 106
Accounting policies 110
Consolidated income statement 124
Consolidated statement of
comprehensive income 125
Reconciliation of Group operating
profit to profit/(loss) for the year 126
Consolidated statement of changes
in equity 128
Consolidated statement of
financial position 129
Consolidated statement of cash flows 130
Notes to the consolidated financial
statements
1 Analysis of the impact of new
standards and amendments to
published standards that have been
adopted by the Group 131
2 Exchange rates 132
3 Presentation changes 133
4 Subsidiaries 133
5 Segmental information 138
6 Details of income 146
7 Details of expenses 147
8 Finance costs 148
9 Long-term business economic
volatility 148
10 Longer-term investment return and
economic assumption changes for
non-long-term business 149
11 Employee information 151
12 Directors 151
13 Auditors’ remuneration 152
14 Tax 152
15 Earnings per share 155
16 Dividends and appropriations 156
17 Goodwill 157
18 Acquired value of in-force business
(AVIF) and intangible assets 159
19 Interests in, and loans to, joint
ventures 160
20 Interests in, and loans to, associates 161
21 Property and equipment 163
22 Investment property 16
4
23 Fair value methodology 16
4
24 Loans 169
25 Securitised mortgages and
related assets 170
26 Interest in structured entities 171
27 Financial investments 173
28 Receivables 177
29 Deferred acquisition costs, other
assets, prepayments and accrued
income 177
30 Assets held to cover linked liabilities 178
31 Ordinary share capital 179
32 Group’s share plans 179
33 Shares held by employee trusts 182
34 Preference share capital 182
35 Direct capital instruments and fixed
rate tier 1 notes 183
36 Merger reserve 183
37 Other reserves 184
38 Retained earnings 184
39 Non-controlling interests 185
40 Contract liabilities and associated
reinsurance 185
41 Insurance liabilities 186
42 Liability for investment contracts 196
43 Financial guarantees and options 197
44 Reinsurance assets 199
45 Effect of changes in assumptions
and estimates during the year 201
46 Unallocated divisible surplus 201
47 Tax assets and liabilities 202
48 Provisions 203
49 Pension obligations 203
50 Borrowings 208
51 Payables and other financial
liabilities 211
52 Other liabilities 212
53 Contingent liabilities and other
risk factors 212
54 Commitments 213
55 Group capital structure 213
56 Statement of cash flows 215
57 Capital statement 217
58 Risk management 219
59 Derivative financial instruments
and hedging 231
60 Financial assets and liabilities subject
to offsetting, enforceable master
netting arrangements and similar
agreements 233
61 Related party transactions 235
62 Organisational structure 236
Financial statements of the Company 238
Income statement 238
Statement of comprehensive income 238
Statement of changes in equity 239
Statement of financial position 240
Statement of cash flows 241
Notes to the Company’s financial
statements 242