Consolidated balance sheet
Consolidated balance sheet for the year ended 31 December 2017
| For the year ended 31 December 2017 | Notes | 2017 £ million |
2016 £ million |
|---|---|---|---|
| Assets | |||
| Goodwill | 11 | 11 | |
| Purchased interest in long term businesses and other intangible assets | 138 | 155 | |
| Deferred acquisition costs | 1,507 | 2,105 | |
| Investment in associates and joint ventures | 252 | 283 | |
| Property, plant and equipment | 59 | 76 | |
| Investment property | 3.05 | 7,110 | 8,150 |
| Financial investments | 3.05 | 443,162 | 430,435 |
| Reinsurers’ share of contract liabilities | 5,703 | 5,593 | |
| UK deferred tax asset | 3.06 | 7 | 5 |
| Current tax recoverable | 342 | 297 | |
| Other assets | 6,083 | 3,131 | |
| Assets of operations classified as held for sale | 3.03 | 22,584 | 2,265 |
| Cash and cash equivalents | 18,919 | 15,348 | |
| Total assets | 505,877 | 467,854 | |
| Equity | |||
| Share capital | 3.09 | 149 | 149 |
| Share premium | 3.09 | 988 | 981 |
| Employee scheme treasury shares | (40) | (30) | |
| Capital redemption and other reserves | 168 | 212 | |
| Retained earnings | 6,578 | 5,633 | |
| Attributable to owners of the parent | 7,843 | 6,945 | |
| Non-controlling interests | 3.15 | 76 | 338 |
| Total equity | 7,919 | 7,283 | |
| Liabilities | |||
| Participating insurance contracts | - | 5,794 | |
| Participating investment contracts | - | 5,271 | |
| Unallocated divisible surplus | - | 661 | |
| Value of in-force non-participating contracts | - | (206) | |
| Participating contract liabilities | - | 11,520 | |
| Non-participating insurance contracts | 62,318 | 60,779 | |
| Non-participating investment contracts | 315,651 | 321,177 | |
| Non-participating contract liabilities | 377,969 | 381,956 | |
| Core borrowings | 3.10 | 3,459 | 3,071 |
| Operational borrowings | 3.11 | 538 | 430 |
| Provisions | 3.18 | 1,335 | 1,328 |
| UK deferred tax liabilities | 3.06 | 13 | 291 |
| Overseas deferred tax liabilities | 3.06 | 337 | 522 |
| Current tax liabilities | 223 | 117 | |
| Payables and other financial liabilities | 3.07 | 52,246 | 37,347 |
| Other liabilities | 563 | 594 | |
| Net asset value attributable to unit holders | 27,317 | 21,573 | |
| Liabilities of operations classified as held for sale | 3.03 | 33,958 | 1,822 |
| Total liabilities | 497,958 | 460,571 | |
| Total equity and liabilities | 505,877 | 467,854 |