Group Statement of Recognised
Income and Expense

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Year ended 31 December Notes 2008
£m
  2007
£m
(Loss)/profit for the year   (144)   1,507
(Losses)/gains on revaluation of available-for-sale financial assets 30 (19)   1
(Losses)/gains on cash flow hedges 30 (318)   169
Exchange differences on translation of foreign operations 30 (29)   15
Actuarial (losses)/gains on defined benefit pension schemes 34 (399)   284
Tax on items taken directly to equity 30 203   (120)
Net (expense)/income recognised directly in equity   (562)   349
Transferred to income and expense on cash flow hedges 30 (30)   382
Transferred to assets and liabilities on cash flow hedges 30 1  
Exchange differences transferred to income and expense on disposal of subsidiaries 30   (4)
Tax on items transferred from equity 30 5   (128)
Transfers   (24)   250
Total recognised income and expense for the year   (730)   2,106
Total income and expense recognised in the year is attributable to:        
Equity holders of the parent   (731)   2,104
Minority interests   1   2
    (730)   2,106

The notes form part of these Financial Statements.