HSBC 2006 Annual Report Download - page 298

HSBC HOLDINGS PLC
Financial Statements (continued)
296
Consolidated statement of recognised income and expense for the year ended 31 December 2006
2006 2005 2004
US$m US$m US$m
Available-for-sale investments:
– fair value gains/(losses) taken to equity ................................................. 1,582 (400) –
– fair value gains transferred to income statement on disposal or
impairment .............................................................................................. (644) (240) –
Cash flow hedges:
– fair value gains/(losses) taken to equity ................................................. 1,554 (92) –
– fair value gains transferred to income statement .................................... (2,198) (106) –
Share of changes in equity of associates and joint ventures ........................... 20 161 –
Exchange differences ....................................................................................... 4,675 (4,257) 3,720
Actuarial losses on defined benefit plans ........................................................ (78) (812) (731)
4,911 (5,746) 2,989
Tax on items taken directly to equity .............................................................. (44) 437 319
Total income and expense taken to equity during the year ............................. 4,867 (5,309) 3,308
Profit for the year ............................................................................................. 16,871 15,873 14,258
Total recognised income and expense for the year ......................................... 21,738 10,564 17,566
Effect of change in accounting policy
IFRSs transition adjustment at 1 January 20051 ......................................... – (8,824) –
21,738 1,740 17,566
Total recognised income and expense for the year attributable to:
– shareholders of the parent company ....................................................... 20,527 9,912 15,743
– minority interests .................................................................................... 1,211 652 1,823
21,738 10,564 17,566
1 For an explanation of the IFRSs transition adjustment at 1 January 2005, see Note 46 on the Financial Statements in the Annual Report
and Accounts 2005.
The accompanying notes on pages 301 to 434, the audited sections of the ‘Report of the Directors: The Management of Risk’ on pages 165
to 247, and the ‘Critical accounting policies’ on pages 111 to 115 form an integral part of these financial statements.