HSBC 2011 Annual Report Download - page 373

371
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Summarised aggregate financial information on joint ventures
2011 2010
US$m US$m
HSBC’s share of:
– current assets ..................................................................................................................................... 1,556 1,481
– non-current assets .............................................................................................................................. 196 97
– current liabilities ................................................................................................................................ 747 706
– non-current liabilities ........................................................................................................................ 715 666
– income ............................................................................................................................................... 383 366
– expenses ............................................................................................................................................. 339 328
In December 2011, following the issue of shares by HSBC Saudi Arabia Limited to a third party, HSBC’s holding
was diluted from 60% to 49% and a dilution gain of US$27m was recognised in ‘Other operating income’.
Associates and joint ventures
Movements in investments in associates and joint ventures
2011 2010
US$m US$m
At 1 January .............................................................................................................................................. 17,198 13,011
Additions .................................................................................................................................................. 90 1,589
Disposals ................................................................................................................................................... (25) (38)
Share of results ......................................................................................................................................... 3,264 2,517
Dividends .................................................................................................................................................. (304) (441)
Transfers ................................................................................................................................................... – (96)
Exchange differences ................................................................................................................................ 681 423
Share of other comprehensive income/(expense) of associates and joint ventures ................................. (710) 107
Other movements ...................................................................................................................................... 205 126
At 31 December ........................................................................................................................................ 20,399 17,198
Goodwill included in carrying amount of associates and joint ventures
2011 2010
US$m US$m
Gross amount
At 1 January .............................................................................................................................................. 1,518 1,446
Additions .................................................................................................................................................. – 60
Exchange differences ................................................................................................................................ 57 40
Other changes ........................................................................................................................................... (24) (28)
At 31 December1 ....................................................................................................................................... 1,551 1,518
1 Includes the carrying amount of goodwill arising from joint ventures of US$31m (2010: US$32m).
24 Goodwill and intangible assets
2011 2010
US$m US$m
Goodwill ................................................................................................................................................... 21,338 22,406
Present value of in-force long-term insurance business (‘PVIF’)1 .......................................................... 4,092 3,440
Other intangible assets .............................................................................................................................. 3,604 4,076
29,034 29,922
1 Disclosures on PVIF are provided on page 181.