Download Reconciliation of Tesco Bank Income Statement from Tesco PLC

Reconciliation of Tesco Bank Income Statement from Tesco PLC Interim Results 2015/16 Press Release (Appendix 7) to Tesco Personal Finance plc Interim Report
Tesco plc Interim Results
Group Reporting
Adjustments 1
Statutory Adjustments and
Reclassifications 2
Tesco Personal Finance plc
Interim Report
£m
£m
£m
£m
283
195
478
(1)
(1)
14
14
282
209
491
(81)
(1)
(82)
-
(3)
(14)
(17)
(84)
(15)
(99)
Other income
-
-
(6)
(6)
Gross profit
396
(1)
(9)
386
(84)
(40)
(108)
(43)
(35)
22
-
-
(84)
(40)
(86)
(43)
(35)
-
-
2
2
86
(7)
(2)
2
79
21
21
(7)
7
2
(2)
0
100
100
Tesco Bank Income Statement 6 months ended 31 August 2015
Revenue
Interest receivable and similar income
Fee and commissions receivable
Direct costs
Interest payable
Fees and commissions payable
Other expenses:
Staff costs
Premises and equipment
Other administrative expenses
Depreciation and amortisation
Provisions for bad and doubtful debts
Share of profit of joint ventures and associates
Operating Profit
Net finance costs: movements on derivatives and hedge accounting
Net finance costs: interest
Share of profit of joint ventures and associates
Profit before Tax
1 Comprising fair value release (£1m), amortisation of acquisition intangible (£2m) and ATM commission (£20m).
2 Comprising statutory adjustments and reclassifications including IFRIC 13 (£14m) and legal entity structure (Tesco Personal Finance Group).
Reconciliation of Tesco Bank Balance Sheet from Tesco PLC Interim Results 2015/16 Press Release to Tesco Personal Finance plc Interim Report
Tesco plc Interim Results
Group Reporting
Adjustments 1
Statutory Adjustments and
Reclassifications 2
Tesco Personal Finance plc Interim
Report
Goodwill and other intangible assets
Property, plant and equipment
Investments in Joint Ventures and Associates
Other investments
Loans & advances to customers
£m
1,192
79
78
738
4,376
£m
(813)
2
£m
1
34
-
£m
380
79
78
772
4,378
Non-current assets
6,463
(811)
35
5,687
Trade and other receivables
Trade and other payables
Loans & advances to customers - current
Customer Deposits and deposits from banks
Total Provisions
Deferred tax liabilities
Current tax liabilities
362
(369)
3,917
(7,026)
(79)
(38)
(22)
(3,255)
2
2
(1)
3
18
(18)
(1)
(1)
380
(387)
3,919
(7,027)
(79)
(36)
(23)
(3,253)
Cash and Cash Equivalents
Loans to Associates and Joint Ventures
Derivative Financial Instrument Receivable
Derivative Financial Instruments Receivable Non Current
Derivative Financial Instrument Payable - Current
Derivative Financial Instrument Payable Non Current
MTNs and Bonds - Principle - Non Current
Net Loans Principal Intercompany
552
34
0
25
(6)
(74)
(1,200)
(235)
(904)
-
11
(34)
1
1
(21)
563
0
25
(6)
(73)
(1,199)
(235)
(925)
2,304
(808)
13
1,509
Tesco Bank Balance Sheet as at 31 August 2015
Net assets
1 Comprising fair value release (£4m), amortisation of acquisition intangible (£11m), ATM commission (£20m) and Goodwill £802m.
2 Comprising statutory adjustments and reclassifications including: Loan to joint venture of £34m, Mandatory Reserve deposits with Bank of England of £14m,
and legal entity structure (Tesco Personal Finance Group).
Reconciliation of Tesco Bank Cashflow Statement from Tesco PLC Interim Results 2015/16 Press Release to Tesco Personal Finance PLC Interim Report
Tesco plc Interim Results
Group Reporting
Adjustments 2
Statutory Adjustments and
3
Reclassifications
Tesco Personal Finance plc
Interim Report
£m
£m
£m
£m
Operating Profit 1
ATM commission
Statutory operating profit of continuing operations
86
20
106
21
(20)
1
(7)
(7)
100
0
100
Depreciation and amortisation
Net intangible assets amortisation
Profit arising on sale of non property related items
Share-based payments
Tesco Bank non-cash items included in profit before tax
Cashflow from operations excluding working capital
43
2
(1)
6
22
178
(2)
1
0
9
2
43
0
(1)
6
32
180
Decrease in working capital
Cash used in operations
(613)
(435)
0
(15)
(13)
(628)
(448)
Interest paid
Corporation tax paid
Staff costs
Premises and equipment
Other administrative expenses
Depreciation and amortisation
Provisions for bad and doubtful debts
Net cash generated from investing activities
(2)
5
(432)
0
2
(1)
(12)
0
4
(444)
(15)
94
0
79
0
5
5
(15)
99
0
84
Increase in borrowings
Dividends paid
Interest paid
Net cash used in financing activities
300
0
0
300
0
(2)
(2)
(4)
298
0
(2)
296
Increase/(decrease) in net intercompany working capital
Increase/(decrease) in net intercompany loans
InterGroup funding and intercompany transactions
(11)
0
(11)
0
11
11
0
0
0
Net increase in cash and cash equivalents
(64)
0
0
(64)
Cash and cash equivalents at the beginning of the period
616
-
(3)
613
Cash and cash equivalents at the end of the period
552
0
(3)
549 4
Tesco Bank Cashflow Statement 6 months ended 31 August 2015
Notes
1 Tesco Bank operating profit is per Tesco Bank Income Statement.
2 Comprising ATM commission (£20m), amortisation of acquisition intangible (£2m) and fair value release (£1m).
3 Comprising statutory adjustments and reclassifications including cashflow presentational differences such as movements on derivatives, interest paid, customer redress provision, intra-group balances and further detail on balance
sheet movements and legal entity structure (Tesco Personal Finance Group).
4 Mandatory reserve deposits held within the Bank of England of £14m are not included within cash and cash equivalents for the purposes of the cash flow statement as these do not have a maturity of less than three months