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114 Experian Annual Report 2011
Notes to the Group nancial statements continued
10. Foreign currency
The principal exchange rates used in these nancial statements are as follows:
Average Closing
2011 2010 2011 2010 2009
Sterling : US dollar 1.55 1.58 1.60 1.52 1.43
US dollar : Brazilian real 1.73 1.88 1.63 1.79 2.30
Euro : US dollar 1.32 1.41 1.42 1.35 1.33
An indication of the sensitivity of the Group’s results to foreign exchange risk is given in note 8.
11. Total operating expenses
(a) Labour costs
Notes 2011
US$m
2010
(Re-presented)
(Note 3)
US$m
Wages and salaries 1,146 1,138
Social security costs 167 165
Share-based payments 33 64 63
Pension (income)/costs - dened benet plans 34 (19) 10
Pension costs - dened contribution plans 37 34
Employee benet costs 1,395 1,410
Other labour costs 130 104
1,525 1,514
Wages and salaries for the year ended 31 March 2010 have been restated to exclude external payments of US$20m which are of a marketing
nature and which are now reported within marketing and customer acquisition costs. Other labour costs include costs in respect of external
contractors, outsourcing costs and costs relating to the recruitment, development and training of employees. The denition, and analysis of the
remuneration, of key management personnel is given in note 45.
(b) Depreciation and amortisation 2011
US$m
2010
US$m
Depreciation of property, plant and equipment 81 85
Amortisation of intangible assets 336 329
Write down on disposal of property, plant and equipment and intangibles 3 3
420 417
(c) Fees payable to the Company’s auditor 2011
US$m
2010
US$m
Audit and assurance services:
Audit of the parent company and Group nancial statements 1 1
Audit of the nancial statements of the Group’s subsidiaries, pursuant to legislation 3 3
Other assurance services, including the review of the Group’s half-yearly nancial report - 1
4 5
Other services:
Taxation services 3 4
Total fees payable to the Company’s auditor and its associates 7 9
The guidelines covering the use of the Company’s auditor for non-audit services are set out in the corporate governance statement. Fees
payable to the Company’s auditor are included within other operating charges.