Aviva 2002 Annual Report Download - page 86

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21 – Investments in associated undertakings and participating interests continued
(c) The carrying value of goodwill on associated undertakings comprises:
Long-term Non-long-term Total Total
business business 2002 2001
£m £m £m £m
Cost:
At 1 January 257 – 257 257
Additions ––––
At 31 December 257 – 257 257
Amortisation:
At 1 January 13 – 13 –
Charge in the year 13 – 13 13
At 31 December 26 – 26 13
Carrying value at 31 December 231 – 231 244
Goodwill is being amortised on a straight-line basis over its useful economic life of 20 years, which has been determined to match the
period over which the value of the underlying businesses will exceed the value of their identifiable net assets.
(d) In France, the Group has invested in a number of specialised investment companies. These invest mainly in equities, bonds and
properties, and distribute most of their income. The Group’s interests in these companies are included in these accounts within other
financial investments or land and buildings as appropriate.
22 – Other financial investments
(a) These financial investments comprise:
Long-term Non-long-term Total Long-term Non-long-term Total
business business 2002 business business 2001
£m £m £m £m £m £m
Shares and other variable yield securities and
units in unit trusts 22,197 2,603 24,800 37,342 4,133 41,475
Debt securities and other fixed income securities:
At current value 23,084 7,737 30,821 20,353 9,288 29,641
At amortised cost 42,721 – 42,721 34,129 – 34,129
Participation in investment pools 68 – 68 77 35 112
Loans secured by mortgages:
Own mortgages 9,140 1,121 10,261 8,259 1,035 9,294
Securitised mortgages (23) 1,621 483 2,104 930 219 1,149
Less: Non-recourse funding (23) (1,621) (478) (2,099) (930) (219) (1,149)
–55–––
Other loans:
Loans secured on policies 150 – 150 152 – 152
Other loans 2,417 75 2,492 2,880 201 3,081
Deposits with credit institutions 2,207 532 2,739 747 1,194 1,941
101,984 12,073 114,057 103,939 15,886 119,825
All investments above are shown at current value unless otherwise indicated. The cost of financial investments above was £116,233 million
(2001: £109,767 million).
Notes to the accounts continued
72 Aviva plc
Annual report + accounts 2002