Consolidated balance sheet
Consolidated balance sheet for the year ended 31 December 2018
| For the year ended 31 December 2018 | Notes | 2018 £ million |
2017 £ million |
|---|---|---|---|
| Assets | |||
| Goodwill | 65 | 11 | |
| Purchased interest in long term businesses and other intangible assets | 223 | 138 | |
| Deferred acquisition costs | 140 | 1,507 | |
| Investment in associates and joint ventures | 259 | 252 | |
| Property, plant and equipment | 57 | 59 | |
| Investment property | 3.06 | 6,965 | 7,110 |
| Financial investments | 3.06 | 430,498 | 443,162 |
| Reinsurers’ share of contract liabilities | 4,737 | 5,545 | |
| UK deferred tax asset | 3.07 | 7 | 7 |
| Current tax recoverable | 418 | 342 | |
| Other assets | 5,593 | 6,083 | |
| Assets of operations classified as held for sale | 3.03 | 26,234 | 22,584 |
| Cash and cash equivalents | 17,321 | 18,919 | |
| Total assets | 492,517 | 504,352 | |
| Equity | |||
| Share capital | 3.08 | 149 | 149 |
| Share premium | 3.08 | 992 | 988 |
| Employee scheme treasury shares | (52) | (40) | |
| Capital redemption and other reserves | 230 | 168 | |
| Retained earnings | 7,261 | 6,251 | |
| Attributable to owners of the parent | 8,580 | 7,516 | |
| Non-controlling interests | 3.09 | 72 | 76 |
| Total equity | 8,652 | 7,592 | |
| Liabilities | |||
| Non-participating insurance contracts | 64,707 | 61,308 | |
| Non-participating investment contracts | 293,080 | 315,651 | |
| Non-participating contract liabilities | 442,676 | 377,969 | |
| Core borrowings | 3.10 | 3,922 | 3,459 |
| Operational borrowings | 3.11 | 1,026 | 538 |
| Provisions | 3.15 | 1,140 | 1,335 |
| UK deferred tax liabilities | 3.07 | 144 | 13 |
| Overseas deferred tax liabilities | 3.07 | 185 | 221 |
| Current tax liabilities | 171 | 223 | |
| Payables and other financial liabilities | 3.12 | 62,548 | 52,246 |
| Other liabilities | 619 | 491 | |
| Net asset value attributable to unit holders | 26,481 | 27,317 | |
| Liabilities of operations classified as held for sale | 3.03 | 29,842 | 33,958 |
| Total liabilities | 483,865 | 496,760 | |
| Total equity and liabilities | 492,517 | 504,352 |