IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

Notes to the financial statements continued3. Segmental reportingAs set out in note 1.33, performance is now assessed on a total Group basis as a single continuing business activity. Statutoryfinancial information is therefore presented as one operating segment and actions taken to achieve the Bank’s strategicobjective of an orderly resolution over a period of up to ten years, including the sale or transfer of assets and liabilities, areregarded as arising from a continuing activity. In the context of an orderly resolution of the Bank, management considers that asingle operating segment, which demonstrates similar economic characteristics, provides relevant information to facilitate anevaluation of the nature and financial effects of the orderly wind-down and the impact of the economic operatingenvironment.The following tables provide a geographical split of the Group's revenue from external customers and non-current assets. Thegeographical segments are based primarily on the location of the office recording the transaction.Geographical segments2011Republic UK Rest of theof Ireland & IOM USA World Group€m €m €m €m €mRevenue from external customers 2,048 256 166 - 2,470Non-current assets 1,230 16 - - 1,2462010Republic UK Rest of theof Ireland & IOM USA World Group€m €m €m €m €mRevenue from external customers 2,728 794 248 2 3,772Non-current assets 1,299 20 126 - 1,445Revenue includes interest and similar income, fee and commission income, net trading expense, the net change in value offinancial assets designated at fair value, gains on liability management exercises and other operating income/(expense).Revenues from transactions with the Government and entities under the control of the Government amounted to 10% or moreof the Group's revenues and included interest on the promissory notes of €1,447m (2010: €433m) and interest on Governmentdebt securities at amortised cost of €92m (2010: €146m). Further details of transactions with the Government and Governmentrelatedentities are included in note 54.Non-current assets includes intangible assets, investment property and property, plant and equipment and excludes financialinstruments, deferred taxation assets and retirement benefit assets.58