The way ahead? - Vodafone

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100 Vodafone Group Plc Annual Report 2013 Notes to the consolidated financial statements (continued) 3. Operating profit Detailed below are the key items charged/(credited) in arriving at our operating profit. 2013 2012 2011 £m £m £m Net foreign exchange losses 22 34 14 Depreciation of property, plant and equipment (note 13): Owned assets 4,209 4,284 4,318 Leased assets 44 79 54 Amortisation of intangible assets (note 10) 3,447 3,496 3,504 Impairment of goodwill in subsidiaries, joint ventures and associates (note 12) 7,700 3,848 6,150 Impairment of licences and spectrum (note 12) – 121 – Impairment of property, plant and equipment (note 12) – 81 – Negative goodwill (note 11) (473) – – Research and development expenditure 307 304 287 Staff costs (note 5) 4,051 3,843 3,642 Operating lease rentals payable: Plant and machinery 159 173 127 Other assets including fixed line rentals 1,661 1,672 1,761 Loss on disposal of property, plant and equipment 92 47 91 Own costs capitalised attributable to the construction or acquisition of property, plant and equipment (418) (374) (331) The total remuneration of the Group’s auditor, Deloitte LLP and other member firms of Deloitte Touche Tohmatsu Limited for services provided to the Group is analysed below: 2013 2012 2011 £m £m £m Audit fees: Parent company 1 1 1 Subsidiaries 7 6 7 8 7 8 Audit-related assurance services 1 1 1 1 Audit and audit-related fees: 9 8 9 Taxation advisory services 2 – – 1 Other non-audit services 2 – 1 – Total fees 9 9 10 Notes: 1 Relates to fees for statutory and regulatory filings. 2 Deloitte LLP and other member firms of Deloitte Touche Tohmatsu Limited were engaged during the year to provide a number of taxation advisory and other non‑audit services. In aggregate, fees for these services amounted to £0.4 million. In addition to the above, the Group’s joint ventures and associates paid fees totalling £1 million (2012: £2 million; 2011: £1 million) and £4 million (2012: £5 million; 2011: £5 million) respectively to Deloitte LLP and other member firms of Deloitte Touche Tohmatsu Limited during the year. Deloitte LLP and other member firms of Deloitte Touche Tohmatsu Limited have also received fees in each of the last three years in respect of audits of charitable foundations associated to the Group. A description of the work performed by the Audit and Risk Committee in order to safeguard auditor independence when non‑audit services are provided is set out in “Corporate governance” on page 62 and 63.
Overview Business review Performance Governance Financials 4. Directors and key management compensation This note details the total amounts earned by the Company’s directors and members of the Executive Committee. Further details can be found in “Directors’ remuneration” on pages 79 to 82. Directors Aggregate emoluments of the directors of the Company were as follows: 2013 2012 2011 £m £m £m Salaries and fees 5 5 5 Incentive schemes1 7 4 3 Other benefits 2 1 1 1 13 10 9 Notes: 1 Includes the value of the cash in lieu of global long‑term incentive plan dividends. 2 Includes the value of the cash allowance taken by some individuals in lieu of pension contributions. Additional information 101 The aggregate gross pre-tax gain made on the exercise of share options in the year ended 31 March 2013 by directors who served during the year was £2 million (2012: £nil; 2011: £nil). Key management compensation Aggregate compensation for key management, being the directors and members of the Executive Committee, was as follows: Vodafone Group Plc Annual Report 2013 2013 2012 2011 £m £m £m Short‑term employee benefits 25 17 18 Post employment benefits – defined contribution schemes – – 1 Share-based payments 23 26 22 48 43 41
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The way ahead? - Vodafone

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