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 £628m (2013: £600m) from consolidated private equity investments. Operational income is accounted for on an accruals basis. The total operational income for the year is £746m (2013: £720m).

Other expenses comprise:

Notes

2014
£m

2013
£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)

38

639

575

Redundancy costs

 

17

22

Operating lease rentals1

 

26

25

Auditors’ remuneration

37

7

7

Depreciation of plant and equipment

12

13

18

Amortisation of purchased interest in long term businesses and other intangibles

10

50

39

Reinsurance commissions

 

(6)

(6)

Direct operating expenses arising from investment properties which generate rental income

 

52

34

Expenses attributable to consolidated private equity investment vehicles

 

613

596

Other administrative expenses

 

337

384

Total other expenses

 

1,748

1,694