8 OTHER OPERATIONAL INCOME AND EXPENSE.


Operational income comprises fee income from estate agency operations, agency fee income relating to distribution services and revenue of £164m (2010: £89m) from consolidated private equity investments. Operational income is accounted for when due.

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Other expenses comprise:

Notes

2011
£m

2010
£m

1.

Where a significant proportion of the risks and rewards of ownership is retained by the lessor, leases are classified as operating leases. Payments made as lessees under operating leases (net of any incentives from the lessor) are charged to the income statement on a straight line basis over the period of the lease.

2.

Expenses attributable to consolidated private equity investment vehicles has increased due to the acquisition of Snow + Rock Sports Limited and Amber Taverns Limited in September and October 2010 respectively and the acquisition of ABI (UK) Group Limited in November 2011.

Staff costs (including pensions and share-based payments)

10

479

459

Redundancy costs

 

6

3

Operating lease rentals1

 

24

23

Auditors’ remuneration

9

6

5

Depreciation of plant and equipment

20

13

16

Amortisation of [purchased interest in long term businesses] and other intangibles

18

26

27

Reinsurance commissions

 

(7)

(10)

Direct operating expenses arising from investment properties which generate rental income

 

35

38

Expenses attributable to consolidated private equity investment vehicles2

 

174

90

Other administrative expenses

 

254

254

Total other expenses

 

1,010

905

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