31 Other operational income and expense.

Operational income comprises fee income from estate agency operations, agency fee income relating to distribution services and revenue of £295m (2011: £164m) from consolidated private equity investments. Operational income is accounted for when due.

(XLS:) Other operational income and expense

Other expenses comprise:

Notes

2012
£m

2011
£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.

Staff costs (including pensions and share-based payments)

33

489

479

Redundancy costs

 

17

6

Operating lease rentals1

 

25

24

Auditors’ remuneration

32

8

6

Depreciation of plant and equipment

 

11

13

Amortisation of purchased interest in long term businesses
and other intangibles

39

23

26

Reinsurance commissions

 

(7)

(7)

Direct operating expenses arising from investment properties
which generate rental income

 

33

35

Expenses attributable to consolidated private equity
investment vehicles

 

292

174

Other administrative expenses

 

303

254

Total other expenses

 

1,194

1,010