Telstra 2014 Annual Report Download - page 100

NOTES TO THE
FINANCIAL STATEMENTS
(Continued)
Telstra Corporation Limited and controlled entities
98 Telstra Annual Report
7. EXPENSES
Telstra Group
Year ended 30 June
Restated
2014 2013
Note $m $m
Continuing operations
Labour
Included in our labour expenses are the following:
Employee redundancy........................................................................................................................................... 251 189
Share-based payments......................................................................................................................................... 45 47
Defined benefit plan expense...........................................................................................................................24 306 305
Cost of goods sold................................................................................................................................................. 2,906 2,881
Other expenses
Impairment losses
- impairment in value of inventories .................................................................................................................... 30 29
- impairment in value of trade and other receivables ........................................................................................ 220 230
- impairment in value of property, plant and equipment ............................................................................... 13 15 15
- impairment in value of intangibles (a)...........................................................................................................14 15
- impairment in value of goodwill (a)................................................................................................................ 14 12 -
- impairment in value of TelstraClear net assets (b)....................................................................................... 12 -28
- impairment in value of amounts owed by joint ventures ................................................................................. -16
- impairment in investments ................................................................................................................................ 2-
280 323
Reversal of impairment losses
- reversal of impairment in value of trade and other receivables..................................................................10 (20) (39)
(20) (39)
Net loss on disposal of TelstraClear................................................................................................................. 20 -127
Rental expense on operating leases .................................................................................................................... 632 583
Net foreign currency translation losses (c).......................................................................................................... 111 -
Service contracts and other agreements ............................................................................................................ 1,468 1,367
Promotion and advertising.................................................................................................................................... 346 279
General and administration .................................................................................................................................. 977 951
Other operating expenses..................................................................................................................................... 194 242
Other expenses 3,988 3,833
Depreciation of property, plant and equipment........................................................................................... 13 2,896 3,066
Amortisation of intangible assets ...................................................................................................................... 1,054 1,012
3,950 4,078
Finance costs
Interest on borrowings ..................................................................................................................................17(e) 961 1,017
Net interest on defined benefit plan ................................................................................................................ 24 10 24
Unwinding of discount on liabilities recognised at present value..................................................................... 14 18
Loss on fair value hedges - effective (d)............................................................................................................... 128 95
Gain on cash flow hedges - ineffective ................................................................................................................ (11) -
Loss on transactions not in a designated hedge relationship/de-designated from fair value
hedge relationships (e).......................................................................................................................................... 64 89
Other ....................................................................................................................................................................... 55
1,171 1,248
Less: interest on borrowings capitalised (f) ........................................................................................................ (58) (96)
1,113 1,152
Research and development expenses ............................................................................................................... 42
Total expenses from discontinued operation ............................................................................................... 12 720 985