EXHIBITS | Exhibit 7.4 | |||
RATIOS OF EARNINGS UNDER US GAAP TO COMBINED FIXED CHARGES, PREFERENCE SHARE DIVIDENDS AND PAYMENTS TO RESERVE CAPITAL INSTRUMENT HOLDERS |
Year ended 31st December | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
(in £ millions except for ratios) | ||||||||||||||||||||
COMBINED FIXED CHARGES, PREFERENCE SHARE DIVIDENDS AND PAYMENTS TO RESERVE CAPITAL INSTRUMENT HOLDERS | ||||||||||||||||||||
Total Interest excluding interest on trading liabilities and interest on deposits | 1,946 | 1,732 | 1,896 | 2,532 | 1,849 | |||||||||||||||
Interest on trading liabilities | 7,414 | 4,933 | 4,297 | 5,824 | 5,024 | |||||||||||||||
One third of rental expense | 91 | 85 | 87 | 95 | 74 | |||||||||||||||
Preference share dividends and payments to Reserve Capital Instrument holders | 96 | 102 | 104 | 104 | 66 | |||||||||||||||
Total fixed charges excluding interest on deposits | 9,547 | 6,852 | 6,384 | 8,555 | 7,013 | |||||||||||||||
Interest on deposits and current accounts | 4,741 | 3,944 | 3,811 | 4,818 | 4,778 | |||||||||||||||
Total fixed charges including interests on deposits | 14,288 | 10,796 | 10,195 | 13,373 | 11,791 | |||||||||||||||
EARNINGS | ||||||||||||||||||||
Income before taxes and minority interests (a) | 4,603 | 3,845 | 3,205 | 3,425 | 3,392 | |||||||||||||||
UK/US GAAP adjustments (b) | (234 | ) | (1,544 | ) | 261 | 396 | (83 | ) | ||||||||||||
Payments to Reserve Capital Instrument Holders | 137 | 145 | 149 | 138 | 47 | |||||||||||||||
4,506 | 2,446 | 3,615 | 3,959 | 3,356 | ||||||||||||||||
Fixed charges excluding interests on deposits | 9,451 | 6,750 | 6,280 | 8,451 | 6,947 | |||||||||||||||
13,957 | 9,196 | 9,895 | 12,410 | 10,303 | ||||||||||||||||
Less | ||||||||||||||||||||
Unremitted pre-tax loss/(income) of associated companies and joint ventures | (44 | ) | (21 | ) | 11 | 13 | 14 | |||||||||||||
Total earnings excluding interest on deposits | 13,913 | 9,175 | 9,906 | 12,423 | 10,317 | |||||||||||||||
Interest on deposits and current accounts | 4,741 | 3,944 | 3,811 | 4,818 | 4,778 | |||||||||||||||
Total earnings including interest on deposits | 18,654 | 13,119 | 13,717 | 17,241 | 15,095 | |||||||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES, PREFERENCE SHARE DIVIDENDS AND PAYMENTS TO RESERVE CAPITAL INSTRUMENTS HOLDERS | ||||||||||||||||||||
Excluding interest on deposits | 1.46 | 1.34 | 1.55 | 1.45 | 1.47 | |||||||||||||||
Including interest on deposits | 1.31 | 1.22 | 1.35 | 1.29 | 1.28 | |||||||||||||||
Notes
a) | There was a difference in the income before tax and minority interests in 2004 between Barclays PLC and Barclays Bank PLC of £9m (2003: nil, 2002-2001 £2m, 2000: nil). There is no impact on the above ratios as a result of this difference. | |||
b) | For a discussion of significant differences between UK GAAP and US GAAP and a reconciliation of net income between amounts calculated under UK GAAP and those estimated under US GAAP, see note 52 of the accounts included herein. |