Consolidated Balance Sheet.

 

(XLS:) Consolidated Balance Sheet

As at 31 December 2012

Notes

2012

£m

2011
Restated1
£m

1.

The consolidated balance sheet has been restated to reflect the retrospective adoption of ASU 2010-26, issued by the FASB, which specifies the accounting for deferred acquisition costs under US GAAP. Details of this adjustment are outlined in Note 1.

Assets

 

 

 

Purchased interest in long term businesses and other intangible assets

39

211

148

Deferred acquisition costs

40

1,904

1,833

Investment in associates

53

87

60

Property, plant and equipment

 

92

78

Investment property

9

5,143

4,894

Financial investments

10

316,748

300,604

Reinsurers’ share of contract liabilities

 

2,499

2,289

Deferred tax asset

41

316

493

Current tax recoverable

42

194

94

Other assets

43

1,564

1,893

Assets of operations classified as held for sale

44

891

Cash and cash equivalents

12

16,652

14,113

Total assets

27(iii)

346,301

326,499

 

 

 

 

Equity

 

 

 

Share capital

45

148

147

Share premium

45

956

941

Employee scheme treasury shares

45

(43)

(48)

Capital redemption and other reserves

 

153

117

Retained earnings

 

4,227

3,899

Shareholders’ equity

 

5,441

5,056

Non-controlling interests

46

39

66

Total equity

27(iii)

5,480

5,122

 

 

 

 

Liabilities

 

 

 

Subordinated borrowings

22

1,890

1,921

 

 

 

 

Participating insurance contracts

18

8,116

8,750

Participating investment contracts

19

7,403

7,276

Unallocated divisible surplus

20

1,153

1,038

Value of in-force non-participating contracts

21

(242)

(242)

Participating contract liabilities

 

16,430

16,822

Non-participating insurance contracts

18

37,728

34,006

Non-participating investment contracts

19

264,958

251,345

Non-participating contract liabilities

 

302,686

285,351

Senior borrowings

22

1,475

1,329

Provisions

23

983

891

Deferred tax liabilities

41

382

327

Current tax liabilities

42

68

1

Payables and other financial liabilities

24

8,083

7,643

Other liabilities

47

959

933

Net asset value attributable to unit holders

48

7,702

6,159

Liabilities of operations classified as held for sale

44

163

Total liabilities

27(iii)

340,821

321,377

Total equity and liabilities

 

346,301

326,499

The notes form an integral part of these financial statements.

The financial statements and the supplementary financial statements were approved by the board of directors on 5 March 2013 and were signed on their behalf by:

John Stewart
Chairman

Nigel Wilson
Group Chief Executive

Mark Gregory
Chief Executive Officer (Savings)