RBS 2012 Annual Report Download - page 63

RBS GROUP 2012
61
Restructuring costs
2012 2011 2010
£m £m £m
Staff costs 737 356 353
Premises and equipment 145 156 117
Other administrative expenses 270 276 104
Depreciation and amortisation 142 — —
1,294 788 574
2012 compared with 2011
Restructuring costs were £1,294 million compared with £788 million in
2011. The increase was primarily driven by costs incurred in relation to
the strategic restructuring of Markets and International Banking
announced in January 2012.
2011 compared with 2010
Restructuring costs were £788 million compared with £574 million in
2010. The increase is due to the number of Group restructuring projects
increasing during the year.
Accruals in relation to restructuring costs are set out below.
At
1 January
2012
Currency
translation
adjustments
Charge
to income
statement
- continuing
operations
Charge
to income
statement
- discontinued
operations
Utilised
during
the year
Transfer to
disposal
groups
At
31 December
2012
£m £m £m £m £m £m £m
Staff costs - redundancy 126 5 626 37 (336) (24) 434
Staff costs - other 40 — 74 — (3) — 111
Premises and equipment 166 — 141 4 (22)— 289
Other administrative expenses 110 (2)261 9 (107) (7) 264
Depreciation and amortisation — — 142 — (142)— —
442 31,244 50 (641)(31)1,067
Divestment costs
2012 2011 2010
£m £m £m
Staff costs 148 95 51
Premises and equipment 9 11 6
Other administrative expenses 99 59 25
256 165 82
2012 compared with 2011
Divestment costs were £256 million compared with £165 million in 2011
as the preparation for the European Commission mandated divestments
continued throughout 2012.
2011 compared with 2010
Divestment costs of £165 million compared with £82 million in 2010
related to the European Commission mandated divestments.
Accruals in relation to divestment costs are set out below.
At
1 January
2012
Charge/(credit)
to income
statement
- continuing
operations
Charge
to income
statement
- discontinued
operations
Utilised
during
the year
Transfer to
disposal
groups
At
31 December
2012
£m £m £m £m £m £m
Staff costs - redundancy 45 47 37 (41)(1) 87
Staff costs - other 1 64 — (19) — 46
Premises and equipment — (2)11 (9) — —
Other administrative expenses 21 62 37 (43) (4) 73
67 171 85 (112) (5) 206