3 Other operational income and expense.

3 Other operational income and expense.

Operational income comprises fee income from estate agency operations, agency fee income relating to distribution services, and revenue of £600m (2012: £295m) from consolidated private equity investments. Operational income is accounted for on an accruals basis. The total operational income for the year is £720m (2012: £342m).

(XLS:) Other expenses

Other expenses comprise:

Notes

2013
£m

2012
£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)

36

575

495

Redundancy costs

 

22

17

Operating lease rentals1

 

25

25

Auditors’ remuneration

35

7

8

Depreciation of plant and equipment

 

18

11

Amortisation of purchased interest in long term businesses and other intangibles

10

39

23

Reinsurance commissions

 

(6)

(7)

Direct operating expenses arising from investment properties which generate rental income

 

34

33

Expenses attributable to consolidated private equity investment vehicles

 

596

292

Other administrative expenses

 

384

297

Total other expenses

 

1,694

1,194

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