Tesco 2007 Annual Report Download - page 61

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Note 4 Employment costs, including Directors’ remuneration
2007 2006
£m £m
Wages and salaries 3,794 3,473
Social security costs 377 271
Post-employment benefits 215 335
Share-based payments expense – equity settled 209 190
4,595 4,269
The average number of employees by geographical segment during the year was:
Average number Average number of
of employees full-time equivalents
2007 2006 2007 2006
UK 270,417 261,578 184,461 175,459
Rest of Europe 74,017 62,925 67,351 55,160
Asia 68,627 43,710 66,471 42,405
Total 413,061 368,213 318,283 273,024
Note 5 Finance income and costs
2007 2006
£m £m
Finance income
Bank interest receivable and similar income on cash and cash equivalents 56 89
Net pension finance income (note 23) 34 25
Total finance income (on historical cost basis) 90 114
Finance costs
Interest payable on short-term bank loans and overdrafts repayable within five years (34) (77)
Finance charges payable under finance leases and hire purchase contracts (7) (6)
4% 125m GBP unsecured deep discount loan stock 2006 (a) (5) (12)
6% 150m GBP Medium Term Note (MTN) 2006 (7) (9)
0.7% 50bn JPY MTN 2006 (1) (2)
7.5% 258m GBP MTN 2007 (22) (24)
6% 125m GBP MTN 2008 (11) (15)
5.25% 500m EUR MTN 2008 (18) (18)
5.125% 192m GBP MTN 2009 (13) (18)
6.625% 150m GBP MTN 2010 (10) (10)
4.75% 750m EUR MTN 2010 (25) (25)
3.875% 500m EUR MTN 2011 (12) –
4% RPI GBP MTN 2016 (b) (16) (15)
5.5% 350m GBP MTN 2019 (19) (19)
5% 350m GBP MTN 2023 (16) –
3.322% LPI GBP MTN 2025 (c) (15) (14)
6% 200m GBP MTN 2029 (12) (12)
5.5% 200m GBP MTN 2033 (11) (11)
2% RPI GBP MTN 2036 (d) (11) –
5% 300m GBP MTN 2042 (14) –
Other MTNs (11) (12)
Capitalised interest 78 67
Total finance costs (on historical cost basis) (212) (232)
IAS 32 and IAS 39 ‘Financial Instruments’ – Fair value remeasurements (4) (9)
Total finance costs (216) (241)
(a) Interest payable on the 4% GBP unsecured deep discount loan stock 2006 includes £3m (2006 – £7m) of discount amortisation.
(b) Interest payable on the 4% RPI GBP MTN 2016 includes £7m (2006 – £6m) of RPI related amortisation.
(c) Interest payable on the 3.322% LPI GBP MTN 2025 includes £7m (2006 – £7m) of RPI related amortisation.
(d) Interest payable on the 2% RPI GBP MTN 2036 includes £7m (2006 – £nil) of RPI related amortisation.
59
NOTES TO THE GROUP
FINANCIAL STATEMENTS