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Consolidated income statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Profit or loss [abstract]      
Net interest expense $ 26,489 $ 27,578 $ 30,462
– interest income [1],[2] 36,188 41,756 54,695
– interest expense [3] (9,699) (14,178) (24,233)
Net fee income 13,097 11,874 12,023
– fee income 16,788 15,051 15,439
– fee expense (3,691) (3,177) (3,416)
Net income from financial instruments held for trading or managed on a fair value basis 7,744 9,582 10,231
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss 4,053 2,081 3,478
Changes in fair value of designated debt and related derivatives [4] (182) 231 90
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 798 455 812
Gains less losses from financial investments 569 653 335
Net insurance premium income 10,870 10,093 10,636
Other operating income 502 527 2,957
Total operating income 63,940 63,074 71,024
Net insurance claims and benefits paid and movement in liabilities to policyholders (14,388) (12,645) (14,926)
Net operating income before change in expected credit losses and other credit impairment charges 49,552 50,429 56,098
Change in expected credit losses and other credit impairment charges 928 (8,817) (2,756)
Net operating income 50,480 41,612 53,342
Employee compensation and benefits (18,742) (18,076) (18,002)
General and administrative expenses (11,592) (11,115) (13,828)
Depreciation and impairment of property, plant and equipment and right-of-use assets [5] (2,261) (2,681) (2,100)
Amortisation and impairment of intangible assets (1,438) (2,519) (1,070)
Goodwill impairment (587) (41) (7,349)
Total operating expenses (34,620) (34,432) (42,349)
Operating profit 15,860 7,180 10,993
Share of profit in associates and joint ventures 3,046 1,597 2,354
Profit before tax 18,906 8,777 13,347
Tax expense (4,213) (2,678) (4,639)
Profit for the year 14,693 6,099 8,708
Attributable to:      
– ordinary shareholders of the parent company 12,607 3,898 5,969
– preference shareholders of the parent company 7 90 90
– other equity holders 1,303 1,241 1,324
– non-controlling interests 776 870 1,325
Profit for the year $ 14,693 $ 6,099 $ 8,708
Basic earnings per ordinary share (in dollars per share) $ 0.62 $ 0.19 $ 0.30
Diluted earnings per ordinary share (in dollars per share) $ 0.62 $ 0.19 $ 0.30
[1] Interest income includes $30,916m (2020: $35,293m) of interest recognised on financial assets measured at amortised cost and $4,337m (2020: $5,614m) of interest recognised on financial assets measured at fair value through other comprehensive income.
[2] Interest revenue calculated using the effective interest method comprises interest recognised on financial assets measured at either amortised cost or fair value through other comprehensive income.
[3]     Interest expense includes $8,227m (2020: $12,426m) of interest on financial instruments, excluding interest on financial liabilities held for trading or designated or otherwise mandatorily measured at fair value.
[4] The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch.
[5] Includes depreciation of the right-of-use assets of $878m (2020: $1,029m).