HSBC 2001 Annual Report Download - page 179
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177
7 Profit on ordinary activities before tax
(a) Profit on ordinary activities before tax is stated after:
2001 2000 1999
US$m US$m US$m
(i) Income
Aggregate rentals receivable, including capital
repayments, under
– finance leases and hire purchase contracts.................. 3,458 2,956 3,260
– operating leases........................................................... 465 481 511
Income from listed investments..................................... 4,761 4,534 2,187
Profits less losses on debt securities and equities dealing 347 456 442
Gains on disposal of investment securities .................... 475 324 439
(ii) Charges
Charges incurred with respect to subordinated liabilities 1,074 1,216 826
Finance charges in respect of finance leases and similar
hire purchase contracts............................................... 27 26 26
Hire of plant and machinery .......................................... 90 92 75
Rentals payable on premises held under operating leases 516 467 442
Gains on the disposal of investments and tangible fixed assets attracted a tax charge of US$114 million (2000:
US$82 million;1999: US$93 million). Of the after-tax amount, US$18 million (2000: US$11 million; 1999:
US$6 million) is attributable to minority interests.
8 Tax on profit on ordinary activities
The charge for taxation comprises:
2001 2000 1999
US$m US$m US$m
United Kingdom corporation tax charge......................................... 956 1,826 883
Relief for overseas taxation ............................................................ (540) (970) (287)
416 856 596
Overseas taxation ............................................................................ 1,570 1,468 1,313
Deferred taxation (Note 32) ............................................................ (425) (78) 129
1,561 2,246 2,038
Joint ventures.................................................................................. (13 )(7) –
Associates ....................................................................................... 26 (1) –
1,574 2,238 2,038