HSBC 2002 Annual Report Download - page 237

235
26 Investments
(a) HSBC Holdings
Shares in
H
SB
C
undertakings
Loans to
HSBC
undertakings
Other
investments
other than
loans Own shares Tota
l
US$m US$m US$m US$m US$m
At 1 January 2002.................... 49,762 4,172 441 555 54,930
Additions ................................. 3,361 248 44 18 3,671
Repayments and redemptions ..
–
(257)
–
(41) (298)
Amortisation ...........................
–
– (1) (18) (19)
Provisions for diminution in
value ..................................... (21) –
–
–(21)
Write-up of subsidiary
undertakings to net asset
value, including attributable
goodwill (Note 36) ............... 4,535 –
–
–4,535
At 31 December 2002 57,637 4,163 484 514 62,798
‘Loans to HSBC undertakings’ includes qualifying or regulatory capital and similar financing which can only be
repaid by the relevant HSBC undertaking with the consent of its local regulatory authority.
Included within ‘Own shares’ are:
(i) US$17 million, after amortisation, of HSBC Holdings’ own shares (2001: US$16 million) held in trust for
the purposes of conditional awards under the Restricted Share Plan, details of which are provided in the
Directors’ Remuneration Report on pages 173 to 177. At 31 December 2002, the trust held 4,664,315
ordinary shares (2001: 3,230,422 ordinary shares) with a market value at that date of US$51,610,678 (2001:
US$37,735,716) in respect of these conditional awards.
(ii) US$497 million of HSBC Holdings’ own shares (2001: US$539 million) held in trust which may be used in
respect of the exercise of share options as detailed in note 35. At 31 December 2002, the trust held
35,745,555 ordinary shares (2001: 38,788,413 ordinary shares) with a market value of US$395,524,816
(2001: US$453,101,339) in respect of these option holders.
HSBC Holdings’ own shares are included within ‘Equity Shares’ (Note 20) in the Consolidated Balance Sheet.
2002 2001
US$m US$m
On the historical cost basis, shares in HSBC undertakings would have been
included as follows:
Cost less provisions of US$191 million (2001: US$170 million)........................ 43,731 40,391