REG - Legal & General Grp - L&G FY 2014 results part 2 <Origin Href="QuoteRef">LGEN.L</Origin> - Part 3

Legal & GeneralAnnouncement

04/03/2015 07:12

- Part 3: For the preceding part double click  ID:nRSD4568Gb 

                                                                       
                                                                                                                                                                                                                                                                                   
 Non-participating contract liabilities                                                                                                                                                                                                                          338,434  319,027  
                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                   
 Core borrowings                                                                                                                                                                                                                                          2.15   2,977    2,453    
 Operational borrowings                                                                                                                                                                                                                                   2.16   715      775      
 Provisions                                                                                                                                                                                                                                               2.21   1,247    1,128    
 UK deferred tax liabilities                                                                                                                                                                                                                              2.22   180      -        
 Overseas deferred tax liabilities                                                                                                                                                                                                                        2.22   434      362      
 Current tax liabilities                                                                                                                                                                                                                                         9        14       
 Payables and other financial liabilities                                                                                                                                                                                                                        16,131   9,305    
 Other liabilities                                                                                                                                                                                                                                               963      1,045    
 Net asset value attributable to unit holders                                                                                                                                                                                                                    17,139   10,818   
                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                   
 Total liabilities                                                                                                                                                                                                                                               393,250  360,365  
                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                   
 Total equity and liabilities                                                                                                                                                                                                                                    399,553  366,272  
                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                   
 1. The Consolidated Balance Sheet has been restated to reflect the adoption by the Group of IFRS 10, 'Consolidated Financial Statements'. Further details are contained in Note 2.24. The impact is to increase the total equity by £207m for 2013.  
 
 
IFRS and Cash                                                                                                              
                             37 
 
Consolidated Statement of Changes in Equity 
 
                                                                                                                         
                                                             Employee  Capital                                           
                                                             scheme    redemption                   Non-                 
                                           Share    Share    treasury  and other   Retained         controlling  Total   
                                           capital  premium  shares    reserves    earnings  Total  interests    equity  
 For the year ended 31 December 2014       £m       £m       £m        £m          £m        £m     £m           £m      
                                                                                                                         
                                                                                                                         
 As at 1 January 2014                      148      959      (39)      57          4,517     5,642  265          5,907   
 Profit for the year                       -        -        -         -           985       985    7            992     
 Exchange differences on translation of                                                                                  
 overseas operations                       -        -        -         12          -         12     -            12      
 Actuarial losses on defined benefit                                                                                     
 pension schemes                           -        -        -         -           (94)      (94)   -            (94)    
 Actuarial losses on defined benefit                                                                                     
 pension schemes transferred to                                                                                          
 unallocated divisible surplus             -        -        -         -           38        38     -            38      
 Net change in financial investments                                                                                     
 designated as available-for-sale          -        -        -         26          -         26     -            26      
                                                                                                                         
                                                                                                                         
 Total comprehensive income                                                                                              
 for the year                              -        -        -         38          929       967    7            974     
 Options exercised under                                                                                                 
 share option schemes:                                                                                                   
 - Executive share option schemes          -        -        -         -           -         -      -            -       
 - Savings related share option scheme     1        10       -         -           -         11     -            11      
 Shares purchased                          -        -        (7)       -           -         (7)    -            (7)     
 Shares vested                             -        -        9         (17)        -         (8)    -            (8)     
 Employee scheme treasury shares:                                                                                        
 - Value of employee services              -        -        -         20          -         20     -            20      
 Share scheme transfers                                                                                                  
 to retained earnings                      -        -        -         -           (17)      (17)   -            (17)    
 Dividends                                 -        -        -         -           (580)     (580)  -            (580)   
 Movement in third party interests         -        -        -         -           -         -      3            3       
 Currency translation differences          -        -        -         19          (19)      -      -            -       
                                                                                                                         
                                                                                                                         
 As at 31 December 2014                    149      969      (37)      117         4,830     6,028  275          6,303   
                                                                                                                         
                                                                                                                         
 
 
IFRS and Cash                                                                                                              
                             38 
 
Consolidated Statement of Changes in Equity (continued) 
 
                                                                                                                                                                                                                                                                                         Employee  Capital                                             
                                                                                                                                                                                                                                                                                         scheme    redemption                     Non-                 
                                                                                                                                                                                                                                                                       Share    Share    treasury  and other   Retained           controlling  Total   
                                                                                                                                                                                                                                                                       capital  premium  shares    reserves    earnings    Total  interests    equity  
 For the year ended 31 December 2013                                                                                                                                                                                                                                   £m       £m       £m        £m          £m          £m     £m1          £m      
                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                       
 As at 1 January 2013                                                                                                                                                                                                                                                  148      956      (43)      153         4,227       5,441  178          5,619   
 Profit for the year                                                                                                                                                                                                                                                   -        -        -         -           893         893    13           906     
 Exchange differences on translation of                                                                                                                                                                                                                                                                                                                
 overseas operations                                                                                                                                                                                                                                                   -        -        -         (16)        -           (16)   -            (16)    
 Actuarial losses on defined benefit                                                                                                                                                                                                                                                                                                                   
 pension schemes                                                                                                                                                                                                                                                       -        -        -         -           (145)       (145)  -            (145)   
 Actuarial losses on defined benefit                                                                                                                                                                                                                                                                                                                   
 pension schemes transferred to                                                                                                                                                                                                                                                                                                                        
 unallocated divisible surplus                                                                                                                                                                                                                                         -        -        -         -           49          49     -            49      
 Net change in financial investments                                                                                                                                                                                                                                                                                                                   
 designated as available-for-sale                                                                                                                                                                                                                                      -        -        -         (88)        -           (88)   -            (88)