Annual review and summary financial statement 2007
Summary Group statement of recognised income and expense
For the year ended 31 December 2007
            2007
£m
2006
£m
Actuarial gains on retirement benefit obligations   2 36
PFI/PPP cash flow hedges – fair value revaluations   (7) 32
  – reclassified and reported in net profit 7
PFI/PPP financial assets – fair value revaluations   (26) (2)
  – reclassified and reported in net profit (3)
Changes in fair value of net investment hedges   (4) 14
Currency translation differences   7 (17)
Tax on items taken directly to equity   5 (26)
Net (expense)/income recognised directly in equity   (19) 37
Profit for the year from continuing operations   169 75
(Loss)/profit for the year from discontinued operations   (18) 16
Total recognised income for the year attributable to equity shareholders 132 128