Barclays 2014 Annual Report Download - page 232

230 I Barclays PLC Annual Report 2014 barclays.com/annualreport
Financial review
Adjusted results reconciliation
For the year ended 31 December
2014 2013 2012
Group
adjusted
results
£m
Adjusting
items
£m
Group
statutory
results
£m
Group
adjusted
results
£m
Adjusting
items
£m
Group
statutory
results
£m
Group
adjusted
results
£m
Adjusting
items
£m
Group
statutory
results
£m
Total income net of
insurance claims 25,728 (440) 25,288 27,896 39 27,935 29,361 (4,352) 25,009
Credit impairment charges
and other provisions (2,168) – (2,168) (3,071) – (3,071) (3,340) – (3,340)
Net operating income 23,560 (440) 23,120 24,825 39 24,864 26,021 (4,352) 21,669
Operating expenses (16,442) (2,360) (18,802) (18,180) (2,079) (20,259) (18,217) (2,450) (20,667)
UK bank levy (462) – (462) (504) – (504) (345) – (345)
Costs to achieve Transform (1,165) – (1,165) (1,209) – (1,209) – – –
Other income/(losses)a11 (446) (435) (24) – (24) 140 – 140
Profit/(loss) before tax from
continuing operations 5,502 (3,246) 2,256 4,908 (2,040) 2,868 7,599 (6,802) 797
Adjusted profit reconciliation
For the year ended 31 December 2014
£m
2013
£m
2012
£m
Adjusted profit before tax 5,502 4,908 7,599
Own credit 34 (220) (4,579)
Gain on disposal of BlackRock, Inc. investment –– 227
Goodwill impairment –(79) –
Provisions for PPI and interest rate hedging redress (1,110) (2,000) (2,450)
Gains on US Lehman acquisition assets 461 259 –
Provision for ongoing investigations and litigation relating to Foreign Exchange (1,250) ––
Loss on announced sale of the Spanish business (446) ––
ESHLA valuation revision (935) ––
Statutory profit before tax 2,256 2,868 797
Income by geographic region (audited)
Adjustedb,c Statutory
2014
£m
2013
£m
2012
£m
2014
£m
2013
£m
2012
£m
Continuing operations
UKb12,357 11,681 12,040 11,456 11,461 7,461
Europe 2,896 4,019 4,457 2,896 4,019 4,457
Americasc5,547 6,775 7,327 6,008 7,034 7,554
Africa and Middle East 4,152 4,137 4,472 4,152 4,137 4,472
Asia 776 1,284 1,065 776 1,284 1,065
Total 25,728 27,896 29,361 25,288 27,935 25,009
Statutory income from individual countries which represent more than 5% of total income (audited)d
2014
£m
2013
£m
2012
£m
Continuing operations
UK 11,456 11,461 7,461
US 5,866 6,760 7,333
South Africa 2,915 2,884 3,700
Notes
a Other income/(losses) represents the share of post-tax results of associates and joint ventures, profit (or loss) on disposal of subsidiaries, associates and joint ventures, and gains
on acquisitions.
b UK adjusted income excludes the impact of an own credit gain of £34m (2013: £220m loss; 2012: £4,579m loss) and ESHLA valuation revision of £935m (2013: £nil; 2012: £nil).
c Americas adjusted income excludes the gains on US Lehman acquisition assets of £461m (2013: £259m; 2012: £nil) and gain on disposal of the investment in BlackRock, Inc. of
£nil (2013: £nil; 2012: £227m gain).
d Total income net of insurance claims based on counterparty location. Income from each single external customer does not amount to 10% or greater of the Group’s total income
net of insurance claims.
Analysis of results by business
All disclosures in this section are unaudited unless otherwise stated.