HSBC 2004 Annual Report Download - page 316

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
314
44 Capital commitments
2004 2003
US$m US$m
Expenditure contracted for ........................................................................................................... 1,212 1,551
Expenditure authorised by Directors but not contracted for ......................................................... 311 680
1,523 2,231
45 Lease commitments
At the year-end, annual commitments under non-cancellable operating leases were:
2004 2003
US$m US$m
Leasehold land and buildings:
Operating leases which expire
– within 1 year ............................................................................................................................ 79 109
– between 1 and 5 years.............................................................................................................. 305 360
– over 5 years.............................................................................................................................. 225 223
609 692
Equipment:
Operating leases which expire
– within 1 year ............................................................................................................................ 421
– between 1 and 5 years.............................................................................................................. 25 14
29 35
46 Segmental analysis
As HSBC is not required to disclose turnover, no segmental analysis of turnover is included. Turnover of non-
banking businesses is included in other operating income. The allocation of earnings reflects the benefit of
shareholders’ funds to the extent that these are actually allocated to businesses in the segment by way of intra-HSBC
capital and funding structures. Common costs are included in segments on the basis of the actual recharges made.
(a) By geographical region
Geographical information has been classified by the location of the principal operations of the subsidiary
undertaking, or in the case of The Hongkong and Shanghai Banking Corporation Limited, HSBC Bank plc,
HSBC Bank Middle East Limited, HSBC Finance Corporation and HSBC Bank USA, N.A. operations, by the
location of the branch responsible for reporting the results or for advancing the funds. Due to the nature of
HSBC’ s structure, the analysis of profits and net assets shown below includes intra-HSBC items between
geographical regions. The ‘Rest of Asia-Pacific’ geographical segment includes the Middle East, India and
Australasia.
Total assets:
At 31 December 2004 At 31 December 2003 At 31 December 2002
US$m % US$m % US$m %
Europe ........................................ 539,116 42.6 425,312 41.6 341,569 45.6
Hong Kong ................................. 217,406 17.2 197,487 19.3 180,433 24.1
Rest of Asia-Pacific .................... 120,504 9.5 98,081 9.6 76,635 10.2
North America ............................ 370,477 29.3 289,800 28.3 142,032 19.0
South America ............................ 17,397 1.4 12,549 1.2 8,491 1.1
1,264,900 100.0 1,023,229 100.0 749,160 100.0
Add: Hong Kong Government
certificates of indebtedness ..... 11,878 10,987 9,445
Total assets ................................. 1,276,778 1,034,216 758,605