Tesco 2011 Annual Report Download - page 111

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NOTE 2 SEGMENTAL REPORTING CONTINUED
Reconciliation of trading profit to profit before tax
2011
£m
2010
£m
Trading profit 3,679 3,412
Adjustments:
Profit arising on property-related items 427 377
IAS 19 ‘Employee Benefits’ – non-cash Group Income Statement charge for pensions (95) 24
IAS 17 ‘Leases’ – impact of annual uplifts in rent and rent-free periods (66) (51)
IFRS 3 ‘Business Combinations’ – intangibles asset amortisation charges and costs arising from acquisitions (42) (127)
IFRIC 13 ‘Customer Loyalty Programmes’ – fair value of awards (8) (14)
IAS 36 ‘Impairment of Assets’ – impairment of goodwill arising on acquisitions (55) (131)
Restructuring costs (29) (33)
Operating profit 3,811 3,457
Share of post-tax profit from joint ventures and associates 57 33
Finance income 150 265
Finance costs (483) (579)
Profit before tax 3,535 3,176
Taxation (864) (840)
Profit for the year 2,671 2,336
Segment assets
At 26 February 2011 UK
£m
Asia
£m
Rest of
Europe
£m
US
£m
Tesco
Bank
£m
Other/
unallocated
£m
Total
at actual
exchange
£m
Total segment non-current assets 14,456 7,638 6,601 945 4,510 1,187 35,337
Total segment non-current assets includes:
Investments in joint ventures and associates 79 173 – – 64 – 316
At 27 February 2010 UK
£m
Asia
£m
Rest of
Europe
£m
US
£m
Tesco
Bank
£m
Other/
unallocated
£m
Total
at actual
exchange
£m
Total segment non-current assets 14,741 7,115 6,588 790 3,738 1,286 34,258
Total segment non-current assets includes:
Investments in joint ventures and associates 55 95 – – 2 – 152
TESCO PLC Annual Report and Financial Statements 2011
—
107
Overview Business review Governance Financial statements