HSBC 2003 Annual Report Download - page 49

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Operating expenses
Year ended 31 December
2003 2002 2001
Total Household1Rest of HSBC
US$m % US$m % US$m % US$m % US$m %
By geographical
region
Europe.............. 9,529 44.3 299 8.8 9,230 51.1 7,878 51.6 7,288 49.0
Hong Kong....... 2,212 10.3 – – 2,212 12.2 2,139 14.0 2,140 14.4
Rest of Asia–
Pacific .......... 1,741 8.1 – – 1,741 9.6 1,528 10.0 1,397 9.4
North America.. 6,947 32.3 3,107 91.2 3,840 21.2 2,675 17.5 2,540 17.1
South America.. 1,075 5.0 – – 1,075 5.9 1,060 6.9 1,497 10.1
21,504 100.0 3,406 100.0 18,098 100.0 15,280 100.0 14,862 100.0
Intra-HSBC
elimination ... (422) – (422
)
(326
)
(257
)
21,082 3,406 17,676 14,954 14,605
Goodwill
amortisation
Europe.............. 758 52.3 23 6.0 735 68.7 651 76.2 632 79.1
Hong Kong....... 30.2 – – 30.3 – –
Rest of Asia-
Pacific ........... 35 2.4 – – 35 3.3 33 3.9 8 1.0
North America.. 643 44.3 358 94.0 285 26.7 146 17.1 145 18.1
South America.. 11 0.8 – – 11 1.0 24 2.8 14 1.8
1,450 100.0 381 100.0 1,069 100.0 854 100.0 799 100.0
Total operating
expenses....... 22,532 3,787 18,745 15,808 15,404
Year ended 31 December
2003 2002 2001
Total Household1Rest of
HSBC
US$m US$m US$m US$m US$m
By expense category
Staff costs .......................................................... 12,111 1,794 10,317 8,609 8,553
Premises and equipment (excluding
depreciation) ................................................. 2,331 299 2,032 1,824 1,639
Other administrative expenses ........................... 5,243 1,203 4,040 3,331 3,279
Administrative expenses .................................... 19,685 3,296 16,389 13,764 13,471
Depreciation and amortisation
– tangible fixed assets ........................................ 1,382 99 1,283 1,189 1,133
– intangible assets .............................................. 15 11 4
4
11
– goodwill .......................................................... 1,450 381 1,069 854 799
Total operating expenses ................................... 22,532 3,787 18,745 15,808 15,404
%%% %%
Cost:income ratio (excluding goodwill
amortisation) ................................................. 51.3 33.4 57.2 56.2 56.4
1 Since the date of acquisition.
As at 31 December
2003 2002 2001
Total Household
Rest of
HSBC
Staff numbers (full-time equivalent)
Europe ................................................................ 73,943 4,075 69,868 72,260 73,326
Hong Kong ......................................................... 23,636 – 23,636 23,786 24,654
Rest of Asia-Pacific ............................................ 31,827 – 31,827 28,630 26,259
North America .................................................... 65,021 28,872 36,149 34,207 19,291
South America .................................................... 28,292 – 28,292 25,522 27,519
Total staff numbers ............................................. 222,719 32,947 189,772 184,405 171,049