Barclays 2003 Annual Report Download - page 83

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Changes in accounting presentation
In 2003, the SEC adopted regulations relating to the presentation of
financial data which is not based on the Generally Accepted Accounting
Principles (GAAP) applied by SEC reporting companies. These
regulations are commonly referred to as Regulation G.
Barclays has in the past published both Group statutory financial
statements, as well as Group and business further analyses which were
designed to assist the understanding of underlying operating trends.
In this Annual Report, Barclays presents its financial results solely on
a GAAP basis.
As a consequence, goodwill amortisation, restructuring costs and costs
directly associated with the integration of Woolwich plc are included in
all presentations of Group operating expenses and operating profit, while
the profit/(loss) from joint ventures and associates is taken into account
below operating profit.
The analysis of results by business incorporates goodwill amortisation,
restructuring costs, costs directly associated with the integration of
Woolwich plc and profit/(loss) from joint ventures and associates in a
manner consistent with the Group presentation detailed above.
Additionally, exceptional items are now allocated out to individual
businesses. This is a different treatment to that included in the Results
Announcement where the analysis of results by business excludes
goodwill amortisation and exceptional items, and separately identifies
restructuring costs.
The prior period presentation has, where appropriate, been restated to
conform with current year classification, and the change in accountancy
policies discussed above.
Accounting developments in UK GAAP are described on pages 118 to
119 and those under US GAAP are described on pages 183 to 184.
Barclays PLC Annual Report 2003 81