Experian 2009 Annual Report Download - page 101

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99Experian Annual Report 2009
Introduction
2 – 7
Business review
8 – 43
Governance
44 – 72
Financial statements
Group nancial statements
5. Foreign currency
The principal exchange rates used in these nancial statements are as follows:
Average Closing
2009 2008 2009 2008 2007
Sterling : US dollar 1.69 2.01 1.43 1.99 1.96
US dollar : Brazilian real 1.96 1.86 2.30 1.75 2.08
Euro : US dollar 1.41 1.42 1.33 1.58 1.33
Assets and liabilities of undertakings whose functional currency is not the US dollar are translated into US dollars at the
rates of exchange ruling at the balance sheet date and the income statement is translated into US dollars at average rates
of exchange (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the
transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions). An
indication of the sensitivity of the Group’s results to foreign exchange risk is given in note 3.
6. Expenses
2009 2008
(Restated)
(Note 2)
US$m US$m
Expenses by nature
Prot before tax is stated after charging:
Net operating lease rental expense 59 89
Depreciation of property, plant and equipment 90 94
Amortisation of intangible assets 330 312
Write down on disposal of property, plant and equipment and intangibles 1 3
Employee benet costs (note 7) 1,428 1,456
Amortisation of intangible assets is charged to administrative expenses,
except for the amortisation of databases which is charged to cost of sales.
Fees payable to the Company’s auditor
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 2
5 6
Other services:
Taxation services 5 6
Services in respect of the demerger 4 2
All other services, including regulatory and compliance services – 4
9 12
Total fees payable to the Company’s auditor and its associates 14 18
The guidelines covering the use of the Company’s auditor for non-audit services are set out
in the corporate governance statement.