Statement of comprehensive income

For the years ended 31 December

Download

USD millions

2017

2018

Net income before attribution of non-controlling interests

393

481

Other comprehensive income, net of tax:

 

 

Change in net unrealised investment gains/losses

287

–2 389

Change in other-than-temporary impairment

3

–1

Change in cash flow hedges

–3

15

Change in foreign currency translation

526

–408

Change in adjustment for pension benefits

315

–4

Impact of sale to non-controlling shareholder

 

–259

Other comprehensive income attributable to non-controlling interests

 

72

Total comprehensive income before attribution of non-controlling interests

1 521

–2 493

 

 

 

Interest on contingent capital instruments, net of tax

–67

–41

Comprehensive income attributable to non-controlling interests

5

–91

Total comprehensive income attributable to common shareholders

1 459

–2 625

Reclassification out of accumulated other comprehensive income

For the years ended 31 December

Download

2017
USD millions

Net unrealised investment gains/losses1

Other-than-temporary impairment1

Cash flow hedges1

Foreign currency translation1, 2

Adjustment for pension benefits3

Credit risk of financial liabilities at fair value option

Accumulated other comprehensive income

1

Reclassification adjustment included in net income is presented in “Net realised investment gains/losses – non-participating business”.

2

Reclassification adjustment is limited to translation gains and losses realised upon sale or upon complete or substantially complete liquidation of an investment in a foreign entity.

3

Reclassification adjustment included in net income is presented in “Operating expenses”.

Balance as of 1 January

4 459

–5

–7

–6 074

–1 135

0

–2 762

Change during the period

2 755

4

30

347

348

 

3 484

Amounts reclassified out of accumulated other comprehensive income

–2 372

1

–33

–17

43

 

–2 378

Tax

–96

–2

 

196

–76

 

22

Balance as of period end

4 746

–2

–10

–5 548

–820

0

–1 634
Download

2018
USD millions

Net unrealised investment gains/losses1

Other-than- temporary impairment1

Cash flow hedges1

Foreign currency translation1, 2

Adjustment for pension benefits3

Credit risk of financial liabilities at fair value option

Accumulated other comprehensive income

1

Reclassification adjustment included in net income is presented in “Net realised investment gains/losses – non-participating business”.

2

Reclassification adjustment is limited to translation gains and losses realised upon sale or upon complete or substantially complete liquidation of an investment in a foreign entity.

3

Reclassification adjustment included in net income is presented in “Operating expenses”.

4

Impact of ASU 2018-02, ASU 2016-16 and ASU 2016-01. Please refer to Note 1 for more details.

Balance as of 1 January

4 746

–2

–10

–5 548

–820

0

–1 634

Impact of sale to non-controlling shareholder

–325

 

1

52

13

 

–259

Impact of Accounting Standards Updates4

–127

 

 

 

–17

5

–139

Change during the period

–3 129

–1

25

–303

–75

 

–3 483

Amounts reclassified out of accumulated other comprehensive income

154

 

–10

8

68

 

220

Tax

586

 

 

–113

3

 

476

Balance as of period end

1 905

–3

6

–5 904

–828

5

–4 819

The accompanying notes are an integral part of the Group financial statements.