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7 Net finance costs
7 Net finance costs
| All figures in £ millions |
Notes |
2006 |
2005 |
| Interest payable |
|
(117) |
(98) |
| Finance costs re employee benefits |
24 |
– |
(7) |
| Net foreign exchange losses |
|
(2) |
(9) |
| Other losses on financial instruments in a hedging relationship: |
|
|
|
| – fair value hedges |
|
– |
(1) |
| – net investment hedges |
|
(2) |
– |
| Other losses on financial instruments not in a hedging relationship: |
|
|
|
| – derivatives |
|
(12) |
(17) |
| Finance costs |
|
(133) |
(132) |
| Interest receivable |
|
23 |
21 |
| Finance income re employee benefits |
24 |
4 |
– |
| Net foreign exchange gains |
|
21 |
21 |
| Other gains on financial instruments in a hedging relationship: |
|
|
|
| – fair value hedges |
|
– |
1 |
| – net investment hedges |
|
– |
3 |
| Other gains on financial instruments not in a hedging relationship: |
|
|
|
| – amortisation of transitional adjustment on bonds |
|
8 |
7 |
| – derivatives |
|
3 |
9 |
| Finance income |
|
59 |
62 |
| Net finance costs |
|
(74) |
(70) |
| Analysed as: |
|
|
|
| Net interest payable |
|
(94) |
(77) |
| Finance income/(costs) re employee benefits |
24 |
4 |
(7) |
| Net finance costs reflected in adjusted earnings |
|
(90) |
(84) |
| Other net finance income |
|
16 |
14 |
| Total net finance costs |
|
(74) |
(70) |
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