consolidated statement of financial condition - Barclays Capital

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The Company's pension assets are invested in certaincommingled funds that are managed by third-partymanagers. These funds are classified within level 2 of thefair value hierarchy as although they do not have aquoted price in an active market, the net asset value iscalculated based on significant observable inputs suchas subscription prices, redemptions prices and otherobservable information. Securities and other assets heldby the fund are valued using independent marketquotations, defined as a quoted price in an active marketfor an identical security or asset.In the event that a current level 1 or level 2 price is notreadily available or is determined to not to reflect thecurrent fair value of the security or asset, the fund’spricing committee will determine the fair value of thesecurity or asset based on certain factors, including butnot limited to: (i) attributes specific to the security orasset; (ii) the principal market for the security or asset;(iii) the typical participants in the principal market for thesecurity or asset; (iv) data assumptions by marketparticipants, if reasonably available; (v) quoted prices forsimilar securities or assets in active markets; and(vi) other factors, such as interest rates, yield curves,volatilities, prepayment speeds, loss severities, creditrisks and/or default rates.401(k) Contribution PlanThe Company has adopted the Barclays Bank PLC ThriftSavings Plan (referred to as the “401(k) Plan”) effectiveJanuary 1, 1980. Eligible employees may elect toparticipate in the plan at any time during the year.Employees who formally elect to participate maycontribute any amount from 2% to 50% of their basepay on a pre-tax basis each pay period, subject toInternal Revenue Service Limits. Additionally, employeeswho formally elect to participate may contribute 2% to6% of their base pay on an after-tax basis to the 401(k)plan each pay period, subject to Internal Revenue ServiceLimits. The combined pre-tax and after-tax contributionsmay not exceed 50% of eligible compensation.The Company matches all or a portion of employee pretaxcontributions through employer matchingcontributions. For every dollar an employee contributeson a pre-tax basis (up to 6% of eligible compensationeach pay period), the Company contributes $1.00 ($1.50for employees whose annualized eligible compensationis $60,000 or less). The matching contributions vest32
with the employee on a graduated scale based oncompleted years of service.PostretirementThe Company follows ASC 715, which requires therecognition of postretirement benefit costs on an accrualbasis over the active working lives of employees, ratherthan on a cash basis. Only employees hired as of April 1,1997 are eligible for postretirement benefits. TheCompany’s AOCI balance was a loss of $1.4 million atDecember 31, 2010. The related accumulated projectedbenefit obligation (“APBO”) at December 31, 2010 is$3.9 million.PostemploymentThe Company recognizes postemployment benefit costson an accrual basis over the active working lives ofemployees, rather than on a cash basis. The Company’sAOCI balance was a gain of $0.5 million atDecember 31, 2010. The related obligation atDecember 31, 2010 is $2.6 million.13. Share-Based CompensationBBPLC operates certain share schemes for its employeesthroughout the world, including the employees of theCompany. Shares for distribution under these schemesare held by a trust and will be vested for individualemployees when they satisfy specific vesting conditions.The costs of these compensation schemes are funded incash paid to BBPLC. The liabilities related to these sharepayments are recorded by the trust.The Company makes recommendations on thecompensation awards for its employees, which areapproved annually by the Remuneration Committee ofBBPLC, depending upon the threshold limit, a portion ofsuch compensation award for the employees will beawarded in BBPLC stock. The main current share-relatedschemes from which the Company’s employees benefitare as follows:Executive Share Award Scheme (“ESAS”)For certain employees of the Company, an element oftheir annual bonus is in the form of a deferred award of aprovisional allocation of BBPLC shares under ESAS. Thetotal value of the bonus made to the employee of whichESAS is an element, is dependent upon the businessunit, BBPLC and individual employee performance. TheESAS element must be held for at least three years andis subject to potential forfeiture upon termination if33
Page 1 and 2: CONSOLIDATEDSTATEMENTOF FINANCIALCO
Page 3 and 4: Report of Independent AuditorsTo th
Page 5 and 6: Consolidated Statement of Financial
Page 7 and 8: 1. OrganizationBarclays Capital Inc
Page 10 and 11: Transfers of Financial AssetsIn gen
Page 12 and 13: absolute terms and relative to the
Page 14 and 15: In such cases, exchange-traded deri
Page 16 and 17: • Mortgage-backed and other asset
Page 18 and 19: tax returns in New York State and N
Page 20 and 21: and requiring expanded information
Page 22 and 23: of Financial Condition. The Company
Page 24 and 25: On March 31, 2010, the Company tran
Page 26 and 27: generally de-recognizes those secur
Page 28 and 29: 6. Receivables from and Payables to
Page 30 and 31: 10. Subordinated DebtAt December 31
Page 32 and 33: 12. Benefit PlansPension PlanThe Co
Page 36 and 37: certain conditions are met. Additio
Page 38 and 39: fully cover losses that customers m
Page 40 and 41: concerning (amongst other things) B
Page 42 and 43: $1,893 million of the maximum poten
Page 44 and 45: dealer price quotations, or alterna
Page 46: SENIOR OFFICERSJerry del MissierChi

consolidated statement of financial condition - Barclays Capital

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