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PARENT COMPANY DISCLOSURES
 12 Months Ended
Dec. 31, 2020
Disclosure Of Parent Company Financial Statements Explanatory [Abstract]  
PARENT COMPANY DISCLOSURES
NOTE 54: PARENT COMPANY DISCLOSURES
(A)Company income statement
202020192018
£m£m£m
Net interest expense(194)(108)(173)
Dividends received from subsidiary undertakings1,135 5,150 4,000 
Other income566 682 524 
Total income1,507 5,724 4,351 
Operating expenses(249)(289)(246)
Impairment(1)4 (3)
Profit on ordinary activities before tax1,257 5,439 4,102 
Tax credit (expense)45 (24)2 
Profit for the year1,302 5,415 4,104 
Profit attributable to ordinary shareholders849 4,949 3,671 
Profit attributable to other equity holders453 466 433 
Profit for the year1,302 5,415 4,104 
(B)Company balance sheet
20202019
£ million£ million
Assets
Non-current assets:
Investment in subsidiaries49,903 48,597 
Loans to subsidiaries20,107 14,660 
Deferred tax asset10 — 
70,020 63,257 
Current assets:
Derivative financial instruments1,832 760 
Financial assets at fair value through profit or loss14,362 12,516 
Other assets982 983 
Amounts due from subsidiaries27 27 
Cash and cash equivalents7 29 
Current tax recoverable16 1 
17,226 14,316 
Total assets87,246 77,573 
Equity and liabilities
Capital and reserves:
Share capital7,084 7,005 
Share premium account17,863 17,751 
Merger reserve7,420 7,420 
Capital redemption reserve4,462 4,462 
Retained profits4,869 3,950 
Shareholders’ equity41,698 40,588 
Other equity instruments5,906 5,906 
Total equity47,604 46,494 
Non-current liabilities:
Debt securities in issue20,545 20,018 
Subordinated liabilities7,760 5,961 
Deferred tax liabilities— 2 
28,305 25,981 
Current liabilities:
Derivative financial instruments803 438 
Financial liabilities at fair value through profit or loss8,635 3,464 
Other liabilities1,899 1,196 
11,337 5,098 
Total liabilities39,642 31,079 
Total equity and liabilities87,246 77,573 
(C)Company statement of changes in equity
Attributable to ordinary shareholders
Share
capital and
premium		Merger
reserve		Capital
redemption
reserve		Retained
profits		TotalOther
equity
instruments		Total
equity
£ million£ million£ million£ million£ million£ million£ million
At 1 January 201824,831 7,423 4,115 1,498 37,867 5,355 43,222 
Total comprehensive income1
— — — 3,671 3,671 433 4,104 
Dividends— — — (2,240)(2,240)— (2,240)
Distributions on other equity instruments— — — — — (433)(433)
Issue of ordinary shares162 — — — 162 — 162 
Share buyback(158)— 158 (1,005)(1,005)— (1,005)
Issue of other equity instruments— — — (7)(7)1,136 1,129 
Movement in treasury shares— — — (74)(74)— (74)
Value of employee services:
Share option schemes— — — 53 53 — 53 
Other employee award schemes— — — 207 207 — 207 
At 31 December 201824,835 7,423 4,273 2,103 38,634 6,491 45,125 
Total comprehensive income1
— — — 4,949 4,949 466 5,415 
Dividends— — — (2,312)(2,312)— (2,312)
Distributions on other equity instruments— — — — — (466)(466)
Issue of ordinary shares107 — — — 107 — 107 
Share buyback(189)— 189 (1,095)(1,095)— (1,095)
Redemption of preference shares3 (3)— — — — — 
Issue of other equity instruments— — — (5)(5)896 891 
Redemption of other equity instruments— — — — — (1,481)(1,481)
Movement in treasury shares— — — 74 74 — 74 
Value of employee services:
Share option schemes— — — 71 71 — 71 
Other employee award schemes— — — 165 165 — 165 
At 31 December 201924,756 7,420 4,462 3,950 40,588 5,906 46,494 
Total comprehensive income1
— — — 849 849 453 1,302 
Distributions on other equity instruments— — — — — (453)(453)
Issue of ordinary shares191 — — — 191 — 191 
Movement in treasury shares— — — (52)(52)— (52)
Value of employee services:
Share option schemes— — — 48 48 — 48 
Other employee award schemes— — — 74 74 — 74 
At 31 December 202024,947 7,420 4,462 4,869 41,698 5,906 47,604 
1No statement of comprehensive income has been shown for the parent company, as permitted by section 408 of the Companies Act 2006. Total comprehensive income comprises only the profit for the year.
(D)Company cash flow statement
202020192018
£ million£ million£ million
Profit before tax1,257 5,439 4,102 
Fair value and exchange adjustments and other non-cash items(512)(166)(715)
Change in other assets(1,815)(11,975)(572)
Change in other liabilities and other items6,401 3,151 7,538 
Dividends received(1,135)(5,150)(4,000)
Distributions on other equity instruments received(492)(366)(324)
Tax received— 70 660 
Net cash provided by (used in) operating activities3,704 (8,997)6,689 
Cash flows from investing activities
Return of capital contribution4 5 9 
Dividends received1,135 5,150 4,000 
Distributions on other equity instruments received492 366 324 
Acquisitions of and capital injections to subsidiaries(1,170)(1,648)(12,753)
Return of capital by subsidiaries— — 11,114 
Amounts advanced to subsidiaries(5,827)(1,812)(21,577)
Repayment of loans to subsidiaries2,004 11,257 12,602 
Interest received on loans to subsidiaries261 395 370 
Net cash (used in) provided by investing activities(3,101)13,713 (5,911)
Cash flows from financing activities
Dividends paid to ordinary shareholders— (2,312)(2,240)
Distributions on other equity instruments(453)(466)(433)
Interest paid on subordinated liabilities(316)(314)(275)
Proceeds from issue of subordinated liabilities— — 1,729 
Proceeds from issue of other equity instruments— 891 1,129 
Proceeds from issue of ordinary shares144 36 102 
Share buyback— (1,095)(1,005)
Repayment of subordinated liabilities— (3)— 
Redemptions of other equity instruments— (1,481)— 
Net cash used in financing activities(625)(4,744)(993)
Change in cash and cash equivalents(22)(28)(215)
Cash and cash equivalents at beginning of year29 57 272 
Cash and cash equivalents at end of year7 29 57 
(E)Interests in subsidiaries
The principal subsidiaries, all of which have prepared accounts to 31 December and whose results are included in the consolidated accounts of Lloyds Banking Group plc, are:
Country of registration/
incorporation		Percentage of equity share
capital and voting rights held		Nature of business
Lloyds Bank plcEngland100%Banking and financial services
Scottish Widows LimitedEngland
100%1
Life assurance
HBOS plcScotland
100%1
Holding company
Bank of Scotland plcScotland
100%1
Banking and financial services
Lloyds Bank Corporate Markets plcEngland100%Banking and financial services
1Indirect interest.
The principal area of operation for each of the above subsidiaries is the United Kingdom.