Experian 2010 Annual Report Download - page 116

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Experian Annual Report 2010 Financial statements114
11. Net nance costs
2010
US$m
2009
US$m
(a) Net nance costs
Interest income:
Bank deposits and money market funds 17 16
Interest differential on derivatives 2 12
Expected return on pension plan assets 47 69
Interest income 66 97
Financing fair value gains:
Fair value gains on borrowings attributable to currency risk 16 -
Gains on interest rate swaps - fair value hedges 353
Fair value gains on non-hedging derivatives 53 -
Foreign exchange transaction gains 58 11
Movement in fair value of Serasa put option (note 5) - 21
Financing fair value gains 130 85
Finance income 196 182
Interest expense:
Bank loans and overdrafts 19 41
Eurobonds and notes 41 61
Commitment and facility utilisation fees 2 1
Unwind of discount on provisions 5 6
Interest differential on derivatives 31 30
Finance lease interest expense 1 2
Interest expense on pension plan liabilities 48 52
Interest expense 147 193
Financing fair value losses:
Fair value losses on borrowings attributable to interest rate risk 451
Losses on cross currency swaps - fair value hedges 22 -
Fair value losses on non-hedging derivatives -15
Movement in fair value of Serasa put option (note 5) 113 -
Financing fair value losses 139 66
Finance expense 286 259
Net nance costs 90 77
(b) Net interest expense included in Benchmark PBT
Net nance costs 90 77
Financing fair value remeasurements (9) 19
Net interest expense included in Benchmark PBT 81 96
(c) Financing fair value remeasurements included in net nance costs
Financing fair value gains (130) (85)
Financing fair value losses 139 66
Charge/(credit) in respect of nancing fair value remeasurements 9 (19)
An indication of the sensitivity of the Group’s results to interest rate risk is given in note 5.
Notes to the Group nancial statements (continued)