Lenovo 2012 Annual Report Download - page 140
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2011/12 Annual Report Lenovo Group Limited
138
NOTES TO THE FINANCIAL STATEMENTS
10 Employee benefit costs
2012 2011
US$’000 US$’000
Wages and salaries (including reversal of provision for restructuring
costs of US$809,000 (2011: provision of US$1,095,000)) 1,380,076 1,058,164
Social security costs 135,657 121,362
Long-term incentive awards granted (Notes 30(a)) 66,418 41,375
Pension costs
– Defined contribution plans 81,067 58,341
– Defined benefit plans (Note 36) 18,350 9,878
Others 256,688 142,098
1,938,256 1,431,218
The Group contributes to respective local municipal government retirement schemes which are available to all qualified
employees in the Chinese Mainland. Contributions to these schemes are calculated with reference to the monthly average
salaries as set out by the local municipal government.
The Group participates in various defined contribution schemes, either voluntary or mandatory, for all qualified employees.
The assets of those defined contribution schemes are held separately from those of the Group in independently administered
funds.
The Group also contributes to certain defined benefit pension schemes, details of which are set out in Note 36.
11 Emoluments of directors and highest paid individuals
(a) Directors’ and senior management’s emoluments
Directors’ emoluments comprise payments by the Group to directors of the Company in connection with the
management of the affairs of the Company and its subsidiaries. The remuneration of each director for the years ended
March 31, 2012 and 2011 is set out below:
2012
Name of Director Fees Salaries
Discretionary
bonuses
(note i)
Long-term
incentives
awards
(note ii)
Retirement
payments
and
employer’s
contribution
to pension
schemes
Other
benefits-
in-kind Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Executive director
Mr. Yang Yuanqing –1,072 5,168 7,754 107 117 14,218
Non-executive directors
Mr. Liu Chuanzhi –901 –2,272 – – 3,173
Mr. Zhu Linan 80 – – 152 – – 232
Ms. Ma Xuezheng 80 – – 164 – – 244
Mr. James G. Coulter 39 – – 147 – – 186
Dr. Wu Yibing 80 – – 149 – – 229
Mr. Zhao John Huan 33 –––––33
Independent non-executive directors
Professor Woo Chia-Wei 80 – – 122 – – 202
Mr. William O. Grabe 90 – – 130 – – 220
Mr. Ting Lee Sen 80 – – 122 – – 202
Dr. Tian Suning 80 – – 152 – – 232
Mr. Nicholas C Allen 100 – – 136 – – 236
Mr. Nobuyuki Idei 41 – – – – – 41
783 1,973 5,168 11,300 107 117 19,448