HSBC 2001 Annual Report Download - page 205

203
The assets and liabilities at the dates of acquisition and the total consideration paid are set out in the following
table:
Book value Revaluations
Accountin
g
policy
alignments Fair value
US$m US$m US$m US$m
At date of acquisition:
Cash and balances at central banks............ 104
–
–
104
Items in course of collection from other
banks ...................................................... 116
–
–
116
Treasury bills and other eligible bills......... 92
–
–
92
Loans and advances to banks..................... 1,893
–
–
1,893
Loans and advances to customers .............. 2,803 (63) (6) 2,734
Debt securities ........................................... 1,931 (4)
–
1,927
Equity shares.............................................. 13 (1)
–
12
Tangible fixed assets.................................. 139 23
–
162
Other asset categories ................................ 293 21 90 404
Deposits by banks ...................................... (2,133)
–
–
(2,133)
Customer accounts..................................... (3,123)
–
–
(3,123)
Items in the course of transmission to
other banks ............................................. (151)
–
–
(151)
Debt securities in issue .............................. (579)
–
–
(579)
Provisions for liabilities and charges ......... (67) (5) 17 (55 )
Subordinated liabilities .............................. (24)
–
–
(24)
Other liability categories............................ (862) 49 (1) (814)
445 20 100 565
Less: minority interests – equity ................ (5)
–
–
(5)
Net assets acquired..................................... 440 20 100 560
Goodwill (Note 24).................................... 632
Total consideration including costs of
acquisition .............................................. 1,192
The fair value adjustments in the above table represent the following:
Revaluations, reflecting the recognition of:
– the fair value of financial instruments acquired;
– the market value of acquired properties; and
– adjustments to provisions and other liabilities.
Accounting policy alignments reflecting HSBC’ s criteria for recognising deferred tax.