HSBC 2010 Annual Report Download - page 276

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
7 – Employee compensation and benefits
274
7 Employee compensation and benefits
2010 2009 2008
US$m US$m US$m
Wages and salaries ...................................................................................................... 17,193 16,268 18,169
Social security costs .................................................................................................... 1,567 1,512 1,625
Post-employment benefits .......................................................................................... 1,076 688 998
19,836 18,468 20,792
Average number of persons employed by HSBC during the year
2010 2009 2008
Europe ......................................................................................................................... 79,902 84,056 87,864
Hong Kong ................................................................................................................. 29,105 28,894 30,030
Rest of Asia-Pacific .................................................................................................... 89,737 88,122 87,954
Middle East ................................................................................................................. 8,983 8,468 8,201
North America ............................................................................................................ 36,822 42,202 53,090
Latin America ............................................................................................................. 57,778 57,774 64,319
Total ............................................................................................................................ 302,327 309,516 331,458
Post-employment benefit plans
Income statement charge
2010 2009 2008
US$m US$m US$m
Defined benefit pension plans .................................................................................... 468 161 477
– HSBC Bank (UK) Pension Scheme .................................................................... 308 (179) 255
– Other plans .......................................................................................................... 160 340 222
Defined contribution pension plans ........................................................................... 545 492 498
1,013 653 975
Defined benefit healthcare plans ................................................................................ 58 31 13
Defined contribution healthcare plans ........................................................................ 5 4 10
1,076 688 998
Net assets/(liabilities) recognised on balance sheet in respect of defined benefit plans
2010 2009
US$m US$m
Defined benefit pension plans .................................................................................................................. (2,867) (6,147)
HSBC Bank (UK) Pension Scheme ..................................................................................................... (622) (3,822)
– fair value of plan assets ................................................................................................................ 22,236 17,701
– present value of defined benefit obligations ................................................................................ (22,858) (21,523)
Other plans ........................................................................................................................................... (2,245) (2,325)
– fair value of plan assets ................................................................................................................ 7,559 6,822
– present value of defined benefit obligations ................................................................................ (9,785) (9,109)
– effect of limit on plan surpluses ................................................................................................... (47) (47)
– unrecognised past service cost ..................................................................................................... 28 9
Defined benefit healthcare plans .......................................................................................................... (946) (820)
– fair value of plan assets ................................................................................................................ 165 142
– present value of defined benefit obligations ................................................................................ (1,087) (937)
– unrecognised past service cost ..................................................................................................... (24) (25)
Fair value of plan assets ........................................................................................................................... 29,960 24,665
Present value of defined benefit obligations ............................................................................................ (33,730) (31,569)
Effect of limit on plan surpluses ............................................................................................................... (47) (47)
Unrecognised past service cost ................................................................................................................. 4 (16)
(3,813) (6,967)
Retirement benefit liabilities .................................................................................................................... (3,856) (6,967)
Retirement benefit assets .......................................................................................................................... 43 –