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*Home > Group Information > Investor Relations > Financial Results > Results 2000 > Report and Accounts > Summary consolidated profit and loss account - statutory basis
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Group Information

Summary consolidated profit and loss account (statutory basis) for the year ended 31 December 2001

Year
ended
31 December
2001
£m		 15 months
ended
31 December
2000
£m
Net interest income 6,869 5,787
Non-interest income 6,337 5,155
General insurance – earned premiums 1,804 1,608
General insurance – reinsurance (429) (442)
Total income* 14,581 12,108
Operating expenses excluding integration costs 6,841 6,364
Integration costs 875 401
Goodwill amortisation 651 541
Operating expenses 8,367 7,306
Profit before other operating charges 6,214 4,802
General insurance – gross claims 1,263 1,205
General insurance – reinsurance (315) (347)
Profit before provisions for bad and doubtful debts 5,266 3,944
Provisions for bad and doubtful debts 984 629
Amounts written off fixed asset investments 7 42
Operating profit* 4,275 3,273
Profit on disposal of businesses — 100
Profit on ordinary activities before tax 4,275 3,373
Tax on ordinary activities 1,537 1,157
Profit on ordinary activities after tax 2,738 2,216
Minority interests (including non-equity) 90 47
Profit after minority interests 2,648 2,169
Preference dividends 358 322
Perpetual regulatory securities interest 23 —
2,267 1,847
Additional Value Shares dividend 399 —
Profit attributable to ordinary shareholders 1,868 1,847
Ordinary dividends 1,085 882
Retained profit 783 965
     
Earnings per 25p ordinary share 67.6p 90.0p
Additional Value Shares dividend 14.5p —
  82.1p 90.0p
Goodwill amortisation 23.2p 25.8p
Integration costs 22.6p 14.0p
Profit on disposal of business — (3.4p)
Adjusted earnings per 25p ordinary share 127.9p 126.4p
Diluted earnings per 25p ordinary share 66.3p 88.9p
Directors’ emoluments Year ended
31 December 2001
£000		 15 months
ended
31 December
2000
£m
Non-executive directors – emoluments 625 449
Executive directors – emoluments 7,879 10,023
Executive directors – contributions and allowances n respect of defined contribution schemes 102 93
8,606 10,565
Executive directors – gains on exercise of share options 4,849 5,630
Executive directors – long-term cash incentive and shadow equity plans — 9,330
13,455 25,525

Retirement benefits are accruing to six directors (31 December 2000 – eight) under defined benefit schemes, two (31 December 2000 – three) of whom also accrued benefits under defined contribution schemes.

The comparative figures for directors’ emoluments in 2000 include emoluments of directors who did not serve during the period ended 31 December 2001.
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