Barclays 2006 Annual Report Download - page 297

Barclays PLC
Annual Report 2006 293
Financial statements
3
Ratio of earnings to fixed charges and preference shares – Barclays Bank PLC (continued)
2006 2005 2004(a) 2003(b) 2002(b)
(in £m except for ratios)
Combined fixed charges, preference share dividends and similar appropriations
UK GAAP/ IFRS:
Interest expense 30,385 20,965 14,464 10,754 10,153
Rental expense 137 126 93 85 87
Fixed charges 30,522 21,091 14,557 10,839 10,240
Preference share dividends and similar appropriations 395 304 3 – –
Total fixed charges 30,917 21,395 14,560 10,839 10,240
Earnings
Income before taxes and minority interests 7,197 5,311 4,589 3,845 3,203
Less: Unremitted pre-tax (income)/loss of associated companies and joint ventures (41) (28) (51) (21) 11
7,156 5,283 4,538 3,824 3,214
Fixed charges 30,917 21,091 14,557 10,839 10,240
Total earnings including fixed charges 38,073 26,374 19,095 14,663 13,454
Ratio of earnings to combined fixed charges,
preference share dividends and similar appropriations 1.23 1.23 1.31 1.35 1.31
US GAAP:
Interest expense(d) 30,117 20,953 14,330 10,609 10,004
Rental expense(d) 137 126 93 85 87
Fixed charges 30,254 21,079 14,423 10,694 10,091
Preference share dividends and similar appropriations(e) 372 288 137 145 149
Total fixed charges 30,626 21,367 14,560 10,839 10,240
Earnings
US GAAP income before taxes and minority interests(c) 6,909 4,565 4,465 2,588 3,609
Less: Unremitted pre-tax (income)/loss of associated companies and joint ventures(d) (41) (28) (51) (21) 11
6,868 4,537 4,414 2,567 3,620
Fixed charges 30,626 21,079 14,423 10,694 10,091
Total earnings including fixed charges 37,494 25,616 18,837 13,261 13,711
Ratio of earnings to combined fixed charges,
preference share dividends and similar appropriations 1.22 1.20 1.29 1.22 1.34
Notes
(a) Does not reflect the application of IAS 32, IAS 39 and IFRS 4 which became effective from 1st January 2005.
(b) UK GAAP.
(c) For a discussion of significant differences between IFRS and US GAAP and a reconciliation of net income between amounts calculated under IFRS and those
calculated under US GAAP, see Note 60 of the accounts included herein.
(d) Interest expense, rental expense and unremitted pre-tax income of associated companies and joint venture under US GAAP for 2004 have been revised to take
account of line item reclassifications arising from the Group’s conversion to IFRS.
(e) Dividends payable on preference shares and similar appropriations are computed as the amount divided by 1 minus the effective or actual tax rate as
appropriate. In reporting in previous years, the dividends payable on preference shares and similar appropriations were not grossed up to reflect the effective
or actual tax rate. Prior year ratios have been revised accordingly.