HSBC 2010 Annual Report Download - page 334

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
24 – Goodwill and intangible assets
332
Summarised aggregate financial information on joint ventures
2010 2009
US$m US$m
HSBC’s share of:
– current assets ..................................................................................................................................... 1,481 700
– non-current assets .............................................................................................................................. 97 513
– current liabilities ................................................................................................................................ 706 621
– non-current liabilities ........................................................................................................................ 666 416
– income ............................................................................................................................................... 366 370
– expenses ............................................................................................................................................. 328 324
Goodwill included in carrying amount of associates and joint ventures
2010 2009
US$m US$m
Gross amount
At 1 January .............................................................................................................................................. 1,446 1,453
Additions .................................................................................................................................................. 60 5
Exchange differences ................................................................................................................................ 40 (12)
Other changes ........................................................................................................................................... (28) –
At 31 December1 ....................................................................................................................................... 1,518 1,446
1 Includes the carrying amount of goodwill arising from joint ventures of US$32m (2009: US$32m).
24 Goodwill and intangible assets
2010 2009
US$m US$m
Goodwill ................................................................................................................................................... 22,406 23,241
Present value of in-force long-term insurance business (‘PVIF’)1 .......................................................... 3,440 2,780
Other intangible assets .............................................................................................................................. 4,076 3,973
29,922 29,994
1 Disclosures on PVIF are provided on page 170.
Goodwill
Reconciliation of goodwill
Europe
Hong
Kong
Rest of
Asia-
Pacific
Middle
East
North
America
Latin
America Total
US$m US$m US$m US$m US$m US$m US$m
Gross amount
At 1 January 2010 ................................. 15,915 123 1,053 69 12,483 4,162 33,805
Additions .............................................. – – 16 – – – 16
Disposals ............................................... (3) – – – (17) – (20)
Exchange differences ............................ (1,004) 1 52 (4) (1) 154 (802)
Other changes ....................................... (23) – (6) – – – (29)
At 31 December 2010 ........................... 14,885 124 1,115 65 12,465 4,316 32,970
Accumulated impairment losses
At 1 January and 31 December 2010 ... – – – – (10,564) – (10,564)
Net carrying amount at
31 December 2010 ........................... 14,885 124 1,115 65 1,901 4,316 22,406