Commonwealth Bank - Report to Shareholders 2003 - Notes to Financial Statements
 

Notes to Financial Statements

For the year ended 30 June 2003

NOTE 3 Financial Reporting by Segments

 

Year Ended 30 June 2003

 

Primary Segment
Business Segments
Financial Performance
Banking
$M
Funds
Management
$M
Life
Insurance
$M
Group
Total
$M

Interest income
11,528
11,528
Premium and related revenue
1,011
1,011
Other income
2,803
1,133
620
4,556

Total Revenue

14,331
1,133
1,631
17,095

 
 
 
 
Interest Expense
6,502
6,502
 
 
 
 
Segment Result before tax, goodwill amortisation and
 
 
 
 
appraisal value (reduction)/uplift
3,187
206
150
3,543
Income tax expense
(938)
8
(28)
(958)

Segment Result after tax and before goodwill amortisation and appraisal value (reduction)/uplift
2,249
214
122
2,585
Outside equity interest
(6)
(6)

Segment Result after tax and outside equity interest before goodwill amortisation and appraisal value (reduction)/uplift
2,249
208
122
2,579
Goodwill amortisation (1)
(322)
Appraisal value (reduction)/uplift (1)
(245)

Net profit attributable to shareholders of the Bank

2,249
208
122
2,012

Non–Cash Expenses

 
 
 
 
Goodwill amortisation
322
Charge for bad and doubtful debts
305
305
Depreciation
109
8
11
128
Appraisal value reduction
245
Other
112
1
113

Financial Position

 
 
 
 
Total Assets
229,289
19,622
16,199
265,110
Acquisition of Property, Plant and Equipment, Intangibles and other Non-Current Assets
98
16
6
120
Associate Investments
214
12
61
287
Total Liabilities
216,939
17,044
8,975
242,958

     
     
 

Year Ended 30 June 2002

 

Primary Segment
Business Segments
Financial Performance
Banking
$M
Funds
Management
$M
Life
Insurance
$M
Group
Total
$M

 
 
 
 
Interest income
10,455
10,455
Premium and related revenue
866
866
Other income
3,180
690
293
4,163
Appraisal value uplift
477

Total Revenue
13,635
690
1,159
15,961

 
 
 
 
Interest Expense
5,745
5,745
 
 
 
 
 
Segment Result before tax, goodwill amortisation and appraisal value uplift
2,884
399
135
3,418
Income tax expense
(816)
(31)
(69)
(916)

Segment Result after income tax and before goodwill amortisation and appraisal value uplift
2,068
368
66
2,502
Outside equity interest
(1)
(1)

Segment Result after tax and outside equity interest before goodwill amortisation and appraisal value uplift
2,067
368
66
2,501
Goodwill amortisation (1)
(323)
Appraisal value uplif (1)
477

Net profit attributable to shareholders of the Bank

2,067
368
66
2,655

Non-Cash Expenses

 
 
 
 
Goodwill amortisation
323
Charge for bad and doubtful debts
449
449
Depreciation
109
7
12
128
Other
87
2
1
90

Financial Position

 
 
 
 
Total Assets
211,130
20,531
17,987
249,648
Acquisition of Property, Plant and Equipment, Intangibles and other Non-current Assets
147
17
164
Associate Investments
235
30
48
313
Total Liabilities
200,885
18,123
9,584
228,592

             

Secondary Segment
Geographical Segment

2003
$M
%
2002
$M
%
2001
$M
%

GEOGRAPHICAL SEGMENTS

 
 
 
 
 
 

Revenue

 
 
 
 
 
 
Australia
13,934
81.6
12,651
79.3
15,265
83.3
New Zealand
2,025
11.8
1,591
10.0
1,499
8.2
Other Countries *
1,136
6.6
1,719
10.7
1,567
8.5

17,095
100.0
15,961
100.0
18,331
100.0

Net profit attributable to shareholders of the Bank

 
 
 
 
 
 
Australia
1,385
68.8
2,569
96.8
2,228
92.9
New Zealand
539
26.8
178
6.7
159
6.6
Other Countries *
88
4.4
(92)
(3.5)
11
0.5

2,012
100.0
2,655
100.0
2,398
100.0

Assets

 
 
 
 
 
 
Australia
221,248
83.5
208,673
83.6
196,918
85.5
New Zealand
27,567
10.4
24,579
9.8
20,208
8.8
Other Countries *
16,295
6.1
16,396
6.6
13,285
5.7

265,110
100.0
249,648
100.0
230,411
100.0

Acquisition of Property, Plant & Equipment, Intangibles and other Non-current Assets

 
 
 
 
 
 
Australia
98
81.7
134
81.7
360
92.1
New Zealand
6
5.0
26
15.9
29
7.4
Other Countries *
16
13.3
4
2.4
2
0.5

120
100.0
164
100.0
391
100.0

   
(1)   These are Group items and, accordingly, are not allocated to the business segments, which is consistent with management reporting.
     
*  

Other Countries are: United Kingdom, United States of America, Japan, Singapore, Hong Kong, Grand Cayman, Philippines, Fiji, Indonesia, China and Vietnam.

The geographical segments represent the location in which the transaction was booked.