2007 REGISTRATION DOCUMENT
2007 REGISTRATION DOCUMENT 2007 REGISTRATION DOCUMENT
5 NotesCONSOLIDATED FINANCIAL STATEMENTSto the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >In millions of eurosTrading bookYear to 31 Dec. 2007 Year to 31 Dec. 2006Assets designatedAssets designatedat fair value throughat fair value throughprofit or loss Total Trading book profit or loss TotalFixed-income securities (1,968) 758 (1,210) 266 273 539Variable-income securities 7,737 643 8,380 9,888 276 10,164Derivative instruments 51 - 51 (3,935) - (3,935)Repurchase agreements 70 19 89 (20) 12 (8)Loans (118) (120) (238) (3) (133) (136)Borrowings (36) (12) (48) 29 32 61Remeasurement of interest-rate riskhedged portfolios 399 - 399 185 - 185Remeasurement of currency positions 420 - 420 703 - 703TOTAL 6,555 1,288 7,843 7,113 460 7,573123The net loss for the year on hedging instruments in fair value hedgesamounted to EUR 314 million (net loss of EUR 428 million in 2006) andthe net profit on the hedged components amounted to EUR 275 million(net profit of EUR 507 million in 2006).In addition, net gains on the trading book included in 2007 and 2006an immaterial amount related to the ineffective portion of cash flowhedges.42.d NET GAIN/LOSS ON AVAILABLE-FOR-SALE FINANCIAL ASSETS“Net gain/loss on available-for-sale financial assets” includes net gains or losses on non-derivative financial assets not classified as either loans andreceivables or held-to-maturity investments.In millions of euros Year to 31 Dec. 2007 Year to 31 Dec. 2006Fixed-income securities (1) 31 38Disposal gains and losses 31 38Equities and other variable-income securities 2,476 1,329Dividend income 634 452Additions to impairment provisions (55) (77)Net disposal gains 1,897 954TOTAL 2,507 1,367(1)Interest income from available-for-sale fixed-income securities is included in “Net interest income” (Note 2.a), and impairment losses related to potential issuerdefault are included in “Cost of risk” (Note 2.f).Unrealised gains and losses - previously recorded under “Unrealised or deferred gains and losses” in shareholders’ equity - and taken to the profit andloss account amounted to EUR 1,886 million for the year ended 31 December 2007 and EUR 725 million for the year ended 31 December 2006.5678910111302007 Registration document - BNP PARIBAS
CONSOLIDATED FINANCIAL STATEMENTS5Notes to the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >2.e NET INCOME FROM OTHER ACTIVITIESYear to 31 Dec. 2007 Year to 31 Dec. 2006In millions of euros Income Expense Net Income Expense NetNet income from insurance activities 16,967 (14,091) 2,876 18,066 (15,767) 2,299Net income from investment property 790 (219) 571 735 (225) 510Net income from assets held underoperating leases 3,949 (3,237) 712 3,586 (3,018) 568Net income from property developmentactivities 189 (36) 153 136 (34) 102Other 706 (361) 345 607 (311) 296TOTAL NET INCOMEFROM OTHER ACTIVITIES 22,601 (17,944) 4,657 23,130 (19,355) 3,775➤NET INCOME FROM INSURANCE ACTIVITIESIn millions of euros Year to 31 Dec. 2007 Year to 31 Dec. 2006Gross premiums written 14,914 14,701Movement in technical reserves (6,247) (8,470)Claims and benefi ts expense (6,689) (6,462)Reinsurance ceded, net (43) (22)Change in value of admissible investments related to unit-linked business 916 2,509Other income and expense 25 43TOTAL NET INCOME FROM INSURANCE ACTIVITIES 2,876 2,29912345“Claims and benefits expense” includes expenses arising from surrenders,maturities and claims relating to insurance contracts. “Movement intechnical reserves” reflects changes in the value of financial contracts,➤OPERATING LEASESin particular unit-linked contracts. Interest paid on such contracts isrecognised in “Interest expense”.6In millions of euros 31 December 2007 31 December 2006Future minimum lease payments receivable under non-cancellable leases 4,011 3,404Payments receivable within 1 year 1,747 1,584Payments receivable after 1 year but within 5 years 2,230 1,781Payments receivable beyond 5 years 34 39Future minimum lease payments receivable under non-cancellable leases comprise payments that the lessee is required to make during the leaseterm.78910112007 Registration document - BNP PARIBAS 131
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5 NotesCONSOLIDATED FINANCIAL STATEMENTSto the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >In millions of eurosTrading bookYear to 31 Dec. <strong>2007</strong> Year to 31 Dec. 2006Assets designatedAssets designatedat fair value throughat fair value throughprofit or loss Total Trading book profit or loss TotalFixed-income securities (1,968) 758 (1,210) 266 273 539Variable-income securities 7,737 643 8,380 9,888 276 10,164Derivative instruments 51 - 51 (3,935) - (3,935)Repurchase agreements 70 19 89 (20) 12 (8)Loans (118) (120) (238) (3) (133) (136)Borrowings (36) (12) (48) 29 32 61Remeasurement of interest-rate riskhedged portfolios 399 - 399 185 - 185Remeasurement of currency positions 420 - 420 703 - 703TOTAL 6,555 1,288 7,843 7,113 460 7,573123The net loss for the year on hedging instruments in fair value hedgesamounted to EUR 314 million (net loss of EUR 428 million in 2006) andthe net profit on the hedged components amounted to EUR 275 million(net profit of EUR 507 million in 2006).In addition, net gains on the trading book included in <strong>2007</strong> and 2006an immaterial amount related to the ineffective portion of cash flowhedges.42.d NET GAIN/LOSS ON AVAILABLE-FOR-SALE FINANCIAL ASSETS“Net gain/loss on available-for-sale financial assets” includes net gains or losses on non-derivative financial assets not classified as either loans andreceivables or held-to-maturity investments.In millions of euros Year to 31 Dec. <strong>2007</strong> Year to 31 Dec. 2006Fixed-income securities (1) 31 38Disposal gains and losses 31 38Equities and other variable-income securities 2,476 1,329Dividend income 634 452Additions to impairment provisions (55) (77)Net disposal gains 1,897 954TOTAL 2,507 1,367(1)Interest income from available-for-sale fixed-income securities is included in “Net interest income” (Note 2.a), and impairment losses related to potential issuerdefault are included in “Cost of risk” (Note 2.f).Unrealised gains and losses - previously recorded under “Unrealised or deferred gains and losses” in shareholders’ equity - and taken to the profit andloss account amounted to EUR 1,886 million for the year ended 31 December <strong>2007</strong> and EUR 725 million for the year ended 31 December 2006.567891011130<strong>2007</strong> Registration document - BNP PARIBAS
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