Experian 2012 Annual Report Download - page 150

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148 Experian Annual Report 2012 Financial statements
Notes to the Group financial statements continued
46. Related parties
Significant subsidiary undertakings at 31 March 2012 are shown in note T to the parent company financial statements. Disclosures in respect
of FARES, the Group’s only individually material associate during the year ended 31 March 2011, are given in note 17. There were no individually
material associates during the year ended 31 March 2012.
Analysis of the remuneration of key management personnel:
2012
US$m
2011
US$m
Salaries and short-term employee benefits 12 12
Retirement benefits 1 1
Share-based payments 18 14
31 27
Key management personnel comprises the board of directors and their remuneration is charged to labour costs. The amount included in
respect of share-based payments includes costs in respect of demerger-related equity incentive plans. Further details of directors’ remuneration
are given in the audited part of the report on directors’ remuneration. Other than remuneration, there were no material transactions or balances
between the Group and its key management personnel or members of their close families in either the current or previous year.
47. Events occurring after the end of the reporting period
Details of the second interim dividend announced since the end of the reporting period are given in note 19.
On 16 April 2012, Experian announced an agreement to form a joint venture with Cerved Group SpA to provide enhanced consumer credit
information services to the Italian market. The formation of the joint venture is subject to regulatory approval on receipt of which the joint venture
will be established with initial gross assets of some US$10m. Experian will own a majority stake in the company.