ING Direct 2004 Annual Report Download - page 66
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64 ING Group Annual Report 2004
CONSOLIDATED STATEMENT OF COMPREHENSIVE
NET PROFIT OF ING GROUP
2.1
ANNUAL ACCOUNTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE NET PROFIT OF ING GROUP FOR THE YEARS ENDED 31 DECEMBER
amounts in millions of euros 2004 2003 2002
Net profit for the period 5,968 4,043 4,500
Other components of comprehensive net profit:
– unrealised revaluations(1) 1,008 528 -3,343
– exchange differences(2) -966 -1,123 -1,041
Net profit not recognised in the consolidated profit and loss account 42 -595 -4,384
Realised revaluations released to the profit and loss account -932 -258 -1,051
Comprehensive net profit for the period 5,078 3,190 -935
(1) In 2004, deferred taxes with regard to unrealised revaluations amounted to EUR 20 million (2003: EUR -9 million; 2002: EUR -62 million).
(2) In 2004, deferred taxes with regard to exchange differences amounted to EUR 191 million (2003: EUR -73 million; 2002: EUR -32 million).
Comprehensive net profit for the period includes all movements in shareholders’ equity during the year, except for
the cumulative effect of changes in the principles of valuation and determination of results and those resulting from
the write-off of goodwill, the enlargement of share capital and distributions to shareholders.
Realised revaluations previously recognised in shareholders’ equity are released from shareholders’ equity to the profit and loss
account. As these revaluations have already been included in comprehensive net profit of the year under report and previous
years, under the caption unrealised revaluations, and are also included in net profit for the period in the year of realisation,
these realised results are adjusted in the comprehensive net profit for the period.