National Grid 2008 Annual Report Download - page 648

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 21777
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 121
Description: EXHIBIT 15.1
0/12317.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/317/12*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 21777
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 121 Description: EXHIBIT 15.1
0/12317.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/317/12*
Table of Contents
Annual Report and Accounts 2007/08
129
3. Operating costs continued
(a) Payroll costs
Payroll costs above represent continuing operations only. Payroll costs of discontinued operations for the year ended 31
March 2008 were £16m (2007: £37m; 2006: £67m).
(b) Number of employees
The vast majority of employees in the US are either directly or indirectly employed in the transmission, distribution and
generation of electricity or the distribution of gas, while those in the UK are either directly or indirectly employed in the
transmission and distribution of gas or the transmission of electricity. At 31 March 2008, 3,155 employees were employed in
other operations.
(c) Key management compensation
Key management compensation relates to the Board of Directors, including the Executive Directors and Non-executive
Directors for the years presented, together with Cheryl LaFleur, acting Executive Director for Electricity Distribution for the
period to 13 August 2007.
(d) Directors’ emoluments
Details of Directors’ emoluments are contained in the auditable part of the Directors’ Remuneration Report, which form part of
these financial statements.
2008 2007 2006
£m £m £m
Wa
g
es and salaries 1,169 819 857
Social security costs 84 65 59
Other
p
ension costs 218 132 140
Share-based
p
a
y
ments 18 15 14
Severance costs
(
excludin
g
p
ension costs
)
14 14 23
1,503 1,045 1,093
Less:
p
a
y
roll costs ca
p
italised
(
324
)
(
225
)
(
239
)
1,179 820 854
31 March Avera
g
e Average Average
2008 2008 2007 2006
Number Number Number Number
UK 10,223 10,093 10,356 10,722
US 17,145 13,335 8,618 8,400
Rest of the world 5 5 8 4
Continuin
g
o
p
erations 27,373 23,433 18,982 19,126
Discontinued o
p
erations 204 119 730 1,403
27,577 23,552 19,712 20,529
2008 2007 2006
£m £m £m
Salaries and short-term em
p
lo
y
ee benefits 9 8 7
Post-em
p
lo
y
ment benefits 8 5 5
Termination benefits
–
1
–
Share-based payments 3 3 2
20 17 14