Smiths Group plc Annual Review 2003

SUMMARY STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES


	2003 £m	2002 £m



Profit for the financial year attributable to shareholders	111.5	185.1
Exchange adjustments	14.7	(56.4)
Taxation recognised on exchange gains/losses:
Current – United Kingdom	5.3	(1.2)
Deferred – United States	3.7	4.5
FRS17 – Retirement Benefits:
Actuarial gains and losses on retirement benefit schemes – gross	(258.6)	(427.0)
Deferred tax credit related thereto	73.4	131.7



	(50.0)	(163.3)



Prior year adjustment re FRS17 – Retirement Benefits – cumulative to 31 July 2002	(157.6)



	(207.6)



Comparative figures for 2002 have been restated following the adoption of FRS17 – Retirement Benefits. There is no material difference between the profit on ordinary activities or retained profit for the year stated above, and their historical cost equivalents.