NATS-Annual-Report-2015

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Annual Report and Accounts 2015 | NATS Holdings Limited Financial Statements 108 Notes forming part of the consolidated accounts (continued) 7. Staff costs a. Staff costs 2015 2014 £m £m Salaries and staff costs, including directors’ remuneration, were as follows: Wages and salaries 315.1 352.0 Social security costs 33.6 33.1 Pension costs (note 7b) 112.4 119.2 461.1 504.3 Less: amounts capitalised (48.1) (44.4) 413.0 459.9 Wages and salaries include redundancy costs of £8.1m (2014: £39.5m), share-based payment charges, other allowances and holiday pay. Pension costs include £2.3m (2014: £1.9m) for redundancy related augmentation payments which staff elected to receive in lieu of severance payments. b. Pension costs 2015 2014 £m £m Defined benefit pension scheme costs (note 28) 105.0 113.3 Defined contribution pension scheme costs 7.4 5.9 112.4 119.2 The company operates a salary sacrifice arrangement for staff pension contributions. Wages and salaries and pension costs reflect this arrangement. c. Staff numbers 2015 2014 No. No. The monthly average number of employees (including executive directors) was: Air traffic controllers 1,748 1,843 Air traffic service assistants 701 723 Engineers 965 996 Others 928 957 4,342 4,519 Financial Statements
Annual Report and Accounts 2015 | NATS Holdings Limited Financial Statements 109 Notes forming part of the consolidated accounts (continued) 8. Investment revenue 2015 2014 £m £m Interest on bank deposits 1.1 0.9 Other loans and receivables 3.7 5.1 4.8 6.0 Interest on bank deposits has been earned on financial assets, including cash and cash equivalents and short term investments. Other loans and receivables includes the effect of unwinding the discount on amounts receivable after more than one year. 9. Fair value movement on derivative contract Credit arising from change in the fair value of derivatives not qualifying for hedge accounting (before credit value adjustment) 2015 2014 £m £m 1.8 15.4 Credit value adjustment on derivatives not qualifying for hedge accounting (0.3) 2.3 1.5 17.7 10. Finance costs 2015 2014 £m £m Interest on bank overdrafts, loans and hedging instruments 1.4 1.4 Bond and related costs including financing expenses 29.1 30.5 Other finance costs 3.1 2.0 33.6 33.9 Other finance costs includes the effect of unwinding the discount on amounts payable after more than one year. Financial Statements
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NATS-Annual-Report-2015

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