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Consolidated statement of recognised income and expense for the year ended 31 December 2008

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US$ million         2008 2007
Net (loss)/gain on revaluation of available for sale investments         (888) 2,326
Net gain on revaluation of available for sale investments – associates         10
Net loss on cash flow hedges         (874) (286)
Net gain/(loss) on cash flow hedges – associates         4 (41)
Net exchange loss on translation of foreign operations         (4,514) (303)
Actuarial net loss on post retirement benefit schemes         (129) (37)
Actuarial net loss on post retirement benefit schemes – associates         (7) (6)
Deferred tax         167 (123)
Net (expense)/income recognised directly in equity         (6,241) 1,540
Transferred to income statement: sale of available for sale investments         (476) (298)
Transferred to income statement: cash flow hedges         380 315
Transferred to initial carrying amount of hedged items: cash flow hedges         637
Transferred to income statement: exchange differences on disposal of foreign operations         2 337
Tax on items transferred from equity         (94) 3
Total transferred from equity         449 357
Profit for the financial year         6,120 8,172
Total recognised income and expense for the financial year(1)         328 10,069

Attributable to:
           
Minority interests         487 844
Equity shareholders of the Company         (159) 9,225
(1)
Total recognised income and expense for the financial year of nil (2007: $2,026 million) relates to discontinued operations.