IFRS operating profit

Full year
2016
£m

Full year
2015
£m

Insurance business
Long-term business:
Asia* 1,503 1,171
US 2,052 1,691
UK 799 1,167
Long-term business profit 4,354 4,029
UK general insurance commission 29 28
Asset management business:
M&G 425 442
Prudential Capital 27 19
Eastspring Investments 141 115
US broker-dealer and asset management (4) 11
 
Other income and expenditure (693) (617)
Solvency II implementation costs (28) (43)
Restructuring costs (38) (15)
Interest received from tax settlement 43 -
Total IFRS basis operating profit based on longer-term investment returns 4,256 3,969
Short-term fluctuations in investment returns on shareholder-backed business (1,678) (755)
(Loss) profit attaching to the held for sale Korea life business (227) 56
Amortisation of acquisition accounting adjustments (76) (76)
Japan sale - Cumulative exchange loss recycled from other comprehensive income - (46)
Profit before tax attributable to shareholders 2,275 3,148
Total tax charge attributable to policyholders and shareholders (1,291) (742)
Adjustment to remove tax charge attributable to policyholders returns 937 173
Tax charge attributable to shareholders’ returns (354) (569)
Profit for the year attributable to equity holders of the Company 1,921 2,579
Earnings per share (in pence)
Based on profit attributable to the equity holders of the Company:
Basic 75.0 101.0
Diluted 75.0 100.9

*To facilitate future comparisons of operating profit based on longer-term investment returns that reflect the Group's retained operations, the results attributable to the held for sale Korea life business are included separately within the supplementary analysis of profit above.