Tesco 2006 Annual Report Download - page 58

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56 Tesco plc
Notes to the financial statements continued
Note 4 Employment costs, including Directors’ remuneration
2006 2005
£m£m
Wages and salaries 3,473 3,033
Social security costs 271 217
Post-employment benefits 335 273
Share-based payments expense – equity settled 190 173
4,269 3,696
The average number of employees during the year was: UK 261,578 (2005 – 245,286), Rest of Europe 62,925 (2005 – 55,781),
Asia 43,710 (2005 – 34,683) and the average number of full-time equivalents was: UK 175,459 (2005 – 163,006), Rest of Europe
55,160 (2005 – 47,204) and Asia 42,405 (2005 – 32,770).
Note 5 Financeincome and costs
2006 2005
£m £m
Finance income
Bank interest receivable and similar income on cash and cash equivalents 89 99
Net pension finance income (note 23) 254
Total finance income (on historical cost basis) 114 103
Finance costs
Interest payable on short-term bank loans and overdrafts repayable within five years (77) (56)
Interest payable on long-term bank loans and overdrafts repayable after five years – (14)
Finance charges payable under finance leases and hire purchase contracts (6) (17)
4% unsecured deep discount loan stock 2006 (a) (12) (11)
0.7% 50bn JPY Medium Term Note (MTN) 2006 (2) (2)
6% 150m GBP MTN 2006 (9) (9)
71⁄2%325m GBP MTN 2007 (24) (24)
51⁄4%500m EUR MTN 2008 (18) (18)
6% 250m GBP MTN 2008 (15) (15)
51⁄8%350m GBP MTN 2009 (18) (18)
43⁄4%750m EUR MTN 2010 (25) (25)
65⁄8%150m GBP MTN 2010 (10) (10)
4% RPI GBP MTN 2016 (b) (15) (15)
51⁄2%350m GBP MTN 2019 (19) (19)
3.322% LPI GBP MTN 2025 (c) (14) (14)
6% 200m GBP MTN 2025 (12) (12)
51⁄2%200m GBP MTN 2033 (11) (11)
Other bonds (12) (8)
Capitalised interest 67 63
Total finance costs (on historical cost basis) (232) (235)
IAS 32 and IAS 39 unrealised finance costs (9) –
Total finance costs (241) (235)
(a) Interest payable on the 4% unsecured deep discount loan stock 2006 includes £7m (2005 – £6m) of discount amortisation.
(b) Interest payable on the RPI GBP MTN 2016 includes £6m (2005 – £6m) of RPI related amortisation.
(c) Interest payable on the LPI GBP MTN 2025 includes £7m (2005 – £7m) of RPI related amortisation.