6 Group capital and financing operating profit1.

(XLS:) Notes to the Supplementary Financial Statements – Group capital and financing operating profit

 

2012
£m

2011
£m

1.

Group capital and financing represents operating profit on the shareholder assets held within the covered business, reported on an embedded value basis, and operating profit on the shareholder assets held outside the covered business reported on an IFRS basis.

2.

Interest expense excludes non recourse financing (see Note 22 of the Group consolidated financial statements).

3.

Unallocated corporate expenses includes the operating profit/(loss) attributable to our joint venture operations in Egypt and the Gulf.

Investment return

168

191

Interest expense2

(127)

(123)

Investment expenses

(5)

(5)

Unallocated corporate expenses3

(14)

(12)

Other

(2)

(8)

Total Group capital and financing operating profit

20

43

 

 

 

Analysed as:

 

 

On an EEV basis

134

157

On an IFRS basis

(114)

(114)