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Strategy Performance & Marketplace Operating review Financial review Governance
Financial statements
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To find out more visit marksandspencer.com/annualreport2011
87
Financial statements
10 Employees
A. Aggregate remuneration
The aggregate remuneration and associated costs of Group employees were:
2011
Total
£m
2010
Total
£m
Wages and salaries 1,077.0 1,083.9
Social security costs 78.5 73.2
Pension costs 60.0 57.3
Share-based payments (see note 13) 31.7 28.5
Employee welfare and other personnel costs 37.2 36.2
Capitalised staff costs1 (20.2) (19.7)
Aggregate remuneration 1,264.2 1,259.4
One-off pension credit (see note 5) (10.7) –
Total 1,253.5 1,259.4
1Staff costs are capitalised in the development of intangible assets (see note 1).
Details of key management compensation are given in note 30.
B. Average number of employees
2011 2010
UK stores
– management and supervisory categories 5,696 5,396
– other 63,005 61,946
UK head office
– management and supervisory categories 2,453 2,389
– other 681 912
Overseas 6,334 5,624
Total average number of employees 78,169 76,267
If the number of hours worked was converted on the basis of a normal working week, the equivalent average number of full-time
employees would have been 54,675 (last year 52,994).
C. Directors’ emoluments
Emoluments of directors of the Company are summarised below. Further details are given in the Remuneration report on
pages 52 to 67.
2011
£m
2010
£m
Aggregate emoluments 11,618 8,380
The emoluments exclude payments to former directors of £nil (last year £187,000).
11 Retirement benefits
The Group provides pension arrangements for the benefit of its UK employees through the Marks & Spencer UK Pension Scheme.
This has a defined benefit section, which was closed to new entrants with effect from 1 April 2002, and a defined contribution section
which has been open to new members with effect from 1 April 2003.
The defined benefit section operates on a final salary basis and at the year end had some 15,000 active members (last year 17,000),
56,000 deferred members (last year 56,000) and 47,000 pensioners (last year 45,000). At the year end, the defined contribution section
had some 9,000 active members (last year 8,000) and some 2,000 deferred members (last year 1,000).
The Group also operates a small funded defined benefit pension scheme in the Republic of Ireland. Retirement benefits also include a
UK post-retirement healthcare scheme and unfunded retirement benefits.
Within the total Group retirement benefit cost (excluding the one-off pension credit of £10.7m) of £22.4m (last year £46.5m), £1.0m
(last year £27.0m) relates to the UK defined benefit section, £14.3m (last year £12.7m) to the UK defined contribution section and
£7.1m (last year £6.8m) to other retirement benefit schemes.