Aviva 2009 Annual Report Download - page 286

284
Aviva plc
Annual Report and Accounts 2009 MCEV financial statements
Condensed consolidated income statement – MCEV basis
For the year ended 31 December 2009
Restated
2009 2009 2008
€m £m £m
Operating profit before tax attributable to shareholders’ profits
3,851 Long-term business 3,389 2,810
1,091 General insurance and health 960 1,198
58 Fund management1 51 42
Other:
(197) Other operations and regional costs2 (173) (163)
(123) Corporate centre (108) (141)
(723) Group debt costs and other interest (636) (379)
3,957 Operating profit before tax attributable to shareholders’ profits 3,483 3,367
Adjusted for the following:
862 Economic variances on long-term business 759 (12,469)
108 Short-term fluctuation in return on investments on non-long-term business 95 (819)
65 Economic assumption changes on general insurance and health business 57 (94)
(70) Impairment of goodwill (62) (66)
(153) Amortisation and impairment of intangibles (135) (108)
82 Profit on the disposal of subsidiaries and associates 72 7
(325) Integration and restructuring costs (286) (326)
(282) Exceptional items3 (248) (754)
4,244 Profit/(loss) before tax 3,735 (11,262)
(1,050) Tax on operating profit (924) (841)
141 Tax on other activities 124 4,396
(909) (800) 3,555
3,335 Profit/(loss) for the year 2,935 (7,707)
All profit is from continuing operations.
1.Excludes the proportion of the results of Aviva Investors fund management businesses and other fund management operations within the group that arises from the provision of fund
management services to our life businesses.
These results are included within the life MCEV operating earnings consistent with the MCEV methodology.
2.Excludes the proportion of the results of subsidiaries providing services to the Life business. These results are included within the life MCEV operating earnings consistent with the
MCEV methodology.
3.Exceptional items of £(248) million for the year ended to 31 December 2009 are £175 million in relation to the reattribution of the inherited estate in the UK, the £261 million adverse impact
of legislation changes on pensions in Poland, an increase in the latent claims reserves in North America of £60 million and expenses of £102 million for the migration of all remaining local brands,
with the exception of Delta Lloyd and RAC, to the single global Aviva brand.
Earnings per share – MCEV basis
Restated
2009 Earnings per share 2009 2008
Operating earnings per share on an MCEV basis after tax,
attributable to ordinary shareholders of Aviva plc
89.5c Basic (pence per share) 78.8p 83.4p
88.8c Diluted (pence per share) 78.1p 82.7p
Earnings after tax on an MCEV basis, attributable to ordinary
shareholders of Aviva plc
115.6c Basic (pence per share) 101.7p (282.6)p
114.5c Diluted (pence per share) 100.8p (282.6)p