Consolidated statement of financial position

Assets

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31 December 2010 Note 2010 £m 2009 £m
  • *Included within financial investments are £8,708 million (2009: £10,501 million) of lent securities. See note G4.
Intangible assets attributable to shareholders:      
Goodwill H1(a) 1,466 1,310
Deferred acquisition costs and other intangible assets H1(b) 4,609 4,049
Total   6,075 5,359
Intangible assets attributable to with-profits funds:      
In respect of acquired subsidiaries for venture fund and other investment purposes H2(a) 166 124
Deferred acquisition costs and other intangible assets H2(b) 110 106
Total   276 230
Total   6,351 5,589
Other non-investment and non-cash assets:      
Property, plant and equipment H6 612 367
Reinsurers’ share of insurance contract liabilities H3 1,344 1,187
Deferred tax assets H4 2,188 2,708
Current tax recoverable H4 555 636
Accrued investment income G1,H5 2,668 2,473
Other debtors G1,H5 903 762
Total   8,270 8,133
Investments of long-term business and other operations:      
Investment properties H7 11,247 10,905
Investments accounted for using the equity method H8 71 6
Financial investments*: G1    
Loans   9,261 8,754
Equity securities and portfolio holdings in unit trusts   86,635 69,354
Debt securities   116,352 101,751
Other investments   5,779 5,132
Deposits   9,952 12,820
Total   239,297 208,722
Properties held for sale H9 257 3
Cash and cash equivalents G1,H10 6,631 5,307
Total assets B6 260,806 227,754

Equity and liabilities

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31 December 2010 Note 2010 £m 2009 £m
Equity      
Shareholders’ equity H11 8,031 6,271
Non-controlling interests   44 32
Total equity   8,075 6,303
Liabilities      
Policyholder liabilities and unallocated surplus of with-profits funds:      
Insurance contract liabilities H12 171,291 145,713
Investment contract liabilities with discretionary participation features G1 25,732 24,880
Investment contract liabilities without discretionary participation features G1 17,704 15,805
Unallocated surplus of with-profits funds H12 10,253 10,019
Total   224,980 196,417
Core structural borrowings of shareholder-financed operations:      
Subordinated debt H13 2,718 2,691
Other H13 958 703
Total G1,H13 3,676 3,394
Other borrowings:      
Operational borrowings attributable to shareholder-financed operations G1,H13 3,004 2,751
Borrowings attributable to with-profits funds G1,H13 1,522 1,284
Other non-insurance liabilities:      
Obligations under funding, securities lending and sale and repurchase agreements G1 4,199 3,482
Net asset value attributable to unit holders of consolidated unit trusts and similar funds G1 3,372 3,809
Deferred tax liabilities H4 4,224 3,872
Current tax liabilities H4 831 1,215
Accruals and deferred income   707 594
Other creditors G1 2,321 1,612
Provisions H14 729 643
Derivative liabilities G1,G3 2,037 1,501
Other liabilities G1,H15 1,129 877
Total   19,549 17,605
Total liabilities B6 252,731 221,451
Total equity and liabilities   260,806 227,754

The consolidated financial statements were approved by the Board of directors on 8 March 2011 and signed on its behalf.

Harvey McGrath signature

Harvey McGrath

Chairman

Tidjane Thiam signature

Tidjane Thiam

Group Chief Executive

Nic Nicandrou signature

Nic Nicandrou

Chief Financial Officer

 

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