Tesco 2009 Annual Report Download - page 85

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83
FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
To find out more go to
www.tesco.com/annualreport09
Note 5 Finance income and costs
2009 2008
£m £m
Finance income
Bank interest receivable and similar income on cash and cash equivalents 91 91
Net pension finance income (note 28) 25 47
Total finance income (on historical cost basis) 116 138
IAS 32 and IAS 39 ‘Financial Instruments’ – Fair value remeasurements – 49
Total finance income 116 187
Finance costs
Interest payable on short-term bank loans and overdrafts repayable within five years (152) (47)
Finance charges payable under finance leases and hire purchase contracts (13) (13)
7.5% 258m GBP MTN 2007 – (8)
6% 125m GBP MTN 2008 (2) (7)
5.25% 500m EUR MTN 2008 (4) (18)
5.125% 192m GBP MTN 2009 (10) (10)
6.625% 150m GBP MTN 2010 (10) (10)
4.75% 750m EUR MTN 2010 (26) (25)
3.875% 500m EUR MTN 2011 (14) (13)
5.625% 1,500m EUR MTN 2012 (35) –
5% 600m GBP MTN 2014 (1) –
5.125% 600m EUR MTN 2015 (1) –
4% RPI GBP MTN 2016(a) (23) (20)
5.875% 1,500m EUR MTN 2016 (33) –
5.5% 850m USD Bond 2017 (23) (12)
5.5% 350m GBP MTN 2019 (20) (19)
6.125% 900m GBP MTN 2022 (1) –
5% 515m GBP MTN 2023 (21) (18)
3.322% LPI GBP MTN 2025(b) (20) (19)
6% 200m GBP MTN 2029 (12) (12)
5.5% 200m GBP MTN 2033 (11) (11)
1.982% RPI GBP MTN 2036(c) (14) (11)
6.15% 1,150m USD Bond 2037 (35) (18)
5% 300m GBP MTN 2042 (15) (15)
5.125% 600m EUR MTN 2047 (21) (21)
5.2% 500m GBP MTN 2057 (26) (13)
Other MTNs (9) (13)
Capitalised interest 152 103
Total finance costs (on historical cost basis) (400) (250)
IAS 32 and IAS 39 ‘Financial Instruments’ – Fair value remeasurements (78) –
Total finance costs (478) (250)
(a) Interest payable on the 4% RPI GBP MTN 2016 includes £13m (2008 – £10m) of Retail Price Index (RPI) related amortisation.
(b) Interest payable on the 3.322% LPI GBP MTN 2025 includes £11m (2008 – £11m) of RPI related amortisation.
(c) Interest payable on the 1.982% RPI GBP MTN 2036 includes £10m (2008 – £7m) of RPI related amortisation.
Finance costs of £30m (2008 – £nil) resulted from hedge ineffectiveness.