Barclays 2005 Annual Report Download - page 241

Barclays PLC
Annual Report 2005 239
62 First-time adoption of International Financial Reporting Standards (IFRS) (continued)
Income statement reconciliations for year ending 31st December 2004
Full-year ended 31st December 2004
UK GAAP Reclassify Remeasure IFRS
£m £m £m £m
Interest income 13,665 – 215 13,880
Interest expense (6,823) – (224) (7,047)
Net interest income 6,842 – (9) 6,833
Fee and commission income 5,672 – (163) 5,509
Fee and commission expense (706) – 44 (662)
Net fee and commission income 4,966 – (119) 4,847
Dealing profits 1,493 (1,493) – –
Net trading income – 1,493 (6) 1,487
Net investment income – 287 740 1,027
Principal transactions – 1,780 734 2,514
Net premiums from insurance contracts – 211 831 1,042
Other operating income 644 (498) (15) 131
Total operating income 13,945 – 1,422 15,367
Impairment loss on loans and advances and other credit risk provisions (1,091) (2) – (1,093)
Provisions for contingent liabilities and commitments (2) 2 – –
Net operating income 12,852 – 1,422 14,274
Net claims and benefits on insurance contracts – – (1,259) (1,259)
Operating expenses – (8,350) (186) (8,536)
Administrative expenses – staff costs (4,998) 4,998 – –
Administrative expenses – other (2,758) 2,758 – –
Depreciation and goodwill amortisation (594) 594 – –
Share of results of associates and joint ventures 56 (10) 10 56
Exceptional items 45 (45) – –
Profit on disposal of associates and joint ventures – 45 – 45
Profit before tax 4,603 (10) (13) 4,580
Tax (1,289) 10 – (1,279)
Dividends (1,538) – 1,538 –
Profit for the year 1,776 – 1,525 3,301
Profit attributable to minority interests 46 – 1 47
Profit attributable to shareholders 1,730 – 1,524 3,254
Net profit 1,776 – 1,525 3,301
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