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PARENT COMPANY DISCLOSURES
 12 Months Ended
Dec. 31, 2022
Disclosure Of Parent Company Financial Statements Explanatory [Abstract]  
PARENT COMPANY DISCLOSURES
NOTE 56: PARENT COMPANY DISCLOSURES
(A)    Company income statement
2022
£ million
2021
£ million
2020
£ million
Net interest expense(346)(176)(194)
Dividends from subsidiaries1,120 3,600 1,135 
Other income770 633 566 
Total income1,544 4,057 1,507 
Operating expenses(200)(164)(249)
Impairment(13)– (1)
Profit before tax1,331 3,893 1,257 
Tax credit68 12 45 
Profit for the year1,399 3,905 1,302 
Profit attributable to ordinary shareholders961 3,476 849 
Profit attributable to other equity holders438 429 453 
Profit for the year1,399 3,905 1,302 
(B)    Company balance sheet
2022
£ million
2021
£ million
Assets
Cash and cash equivalents48 50 
Financial assets at fair value through profit or loss20,292 20,362 
Derivative financial instruments1,197 793 
Amounts due from subsidiaries– – 
Debt securities2,279 2,033 
Loans to subsidiaries14,119 14,238 
Investment in subsidiaries49,609 49,142 
Current tax recoverable4 28 
Deferred tax assets93 26 
Other assets– 2 
Total assets87,641 86,674 
Liabilities
Due to subsidiaries1
27 200 
Financial liabilities at fair value through profit or loss13,865 9,748 
Derivative financial instruments1,550 414 
Debt securities in issue15,366 17,748 
Other liabilities1
125 61 
Subordinated liabilities9,218 8,105 
Total liabilities40,151 36,276 
Equity
Share capital6,729 7,102 
Share premium account18,504 18,479 
Merger reserve6,806 6,806 
Capital redemption reserve4,932 4,479 
Retained profits5,222 7,626 
Shareholders’ equity42,193 44,492 
Other equity instruments5,297 5,906 
Total equity47,490 50,398 
Total equity and liabilities87,641 86,674 
1    Due to subsidiaries, previously reported within other liabilities, is shown separately. Comparatives have been presented on a consistent basis.
(C)    Company statement of changes in equity
Attributable to ordinary shareholders
Share
capital and
premium
£ million		Merger
reserve
£ million		Capital
redemption
reserve
£ million		Retained
profits
£ million		Total
£ million		Other
equity
instruments
£ million		Total
£ million
At 1 January 202024,756 7,420 4,462 3,950 40,588 5,906 46,494 
Total comprehensive income1
– – – 849 849 453 1,302 
Transactions with owners
Dividends– – – – – – – 
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 
Total transactions with owners191 – – 70 261 (453)(192)
At 31 December 202024,947 7,420 4,462 4,869 41,698 5,906 47,604 
Total comprehensive income1
– – – 3,476 3,476 429 3,905 
Transactions with owners
Dividends– – – (877)(877)– (877)
Distributions on other equity instruments– – – – – (429)(429)
Issue of ordinary shares37 – – – 37 – 37 
Redemption of preference shares597 (614)17 – – – – 
Movement in treasury shares– – – (24)(24)– (24)
Value of employee services:
Share option schemes– – – 51 51 – 51 
Other employee award schemes– – – 131 131 – 131 
Total transactions with owners634 (614)17 (719)(682)(429)(1,111)
At 31 December 202125,581 6,806 4,479 7,626 44,492 5,906 50,398 
Total comprehensive income1
– – – 961 961 438 1,399 
Transactions with owners
Dividends– – – (1,475)(1,475)– (1,475)
Distributions on other equity instruments– – – – – (438)(438)
Issue of ordinary shares105 – – – 105 – 105 
Share buyback(453)– 453 (2,013)(2,013)– (2,013)
Issue of other equity instruments– – – (5)(5)750 745 
Repurchase and redemptions of other equity instruments– – – (37)(37)(1,359)(1,396)
Movement in treasury shares– – – (59)(59)– (59)
Value of employee services:
Share option schemes– – – 41 41 – 41 
Other employee award schemes– – – 183 183 – 183 
Total transactions with owners(348)– 453 (3,365)(3,260)(1,047)(4,307)
At 31 December 202225,233 6,806 4,932 5,222 42,193 5,297 47,490 
1    No 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
2022
£ million
2021
£ million
2020
£ million
Cash flows from operating activities
Profit before tax1,331 3,893 1,257 
Adjustments for:
Fair value and exchange adjustments and other non-cash items21 1,134 (512)
Change in other assets(177)(7,028)(1,815)
Change in other liabilities and other items1,626 (3,322)6,401 
Dividends received(1,120)(3,600)(1,135)
Distributions on other equity instruments received(338)(423)(492)
Tax received27 2 – 
Net cash provided (used in) by operating activities1,370 (9,344)3,704 
Cash flows from investing activities
Return of capital contribution4 4 4 
Dividends received1,120 3,600 1,135 
Distributions on other equity instruments received338 423 492 
Acquisitions of and capital injections to subsidiaries(250)(3,209)(1,170)
Return of capital by subsidiaries– 4,130 – 
Amounts advanced to subsidiaries(3,148)(974)(5,827)
Repayment of loans to subsidiaries4,234 6,727 2,004 
Interest received on loans to subsidiaries408 461 261 
Net cash provided by (used in) investing activities2,706 11,162 (3,101)
Cash flows from financing activities
Dividends paid to ordinary shareholders(1,475)(877)– 
Distributions on other equity instruments(438)(429)(453)
Interest paid on subordinated liabilities(370)(793)(316)
Proceeds from issue of subordinated liabilities838 499 – 
Proceeds from issue of other equity instruments745 – – 
Proceeds from issue of ordinary shares31 25 144 
Share buyback(2,013)– – 
Repayment of subordinated liabilities– (200)– 
Repurchase and redemptions of other equity instruments(1,396)– – 
Net cash used in financing activities(4,078)(1,775)(625)
Change in cash and cash equivalents(2)43 (22)
Cash and cash equivalents at beginning of year50 7 29 
Cash and cash equivalents at end of year48 50 7 
(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.