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Financial Statements
6. Payroll costs and employees
a) Payroll costs
| 2007 £m |
2006* £m |
2005* £m |
|
|---|---|---|---|
| Wages and salaries | 819 | 857 | 876 |
| Social security costs | 65 | 59 | 55 |
| Other pension costs | 132 | 140 | 146 |
| Share-based payments | 15 | 14 | 12 |
| Severance costs | 14 | 23 | 12 |
| 1,045 | 1,093 | 1,101 | |
| Less: payroll costs capitalised | (225) | (239) | (215) |
| 820 | 854 | 886 |
*Comparatives have been adjusted to reclassify amounts relating to discontinued operations
b) Number of employees
| 31 March 2007 Number |
Average 2007 Number |
Average* 2006 Number |
Average* 2005 Number |
|
|---|---|---|---|---|
| UK | 10,015 | 10,356 | 10,722 | 11,131 |
| US | 8,753 | 8,618 | 8,400 | 8,649 |
| Rest of the World | 8 | 8 | 4 | 9 |
| Continuing operations | 18,776 | 18,982 | 19,126 | 19,789 |
| Discontinued operations | 735 | 730 | 1,403 | 4,818 |
| 19,511 | 19,712 | 20,529 | 24,607 |
*Comparatives have been adjusted to reclassify amounts relating to discontinued operations
The vast majority of employees in:
- the US are either directly or indirectly employed in the transmission and distribution of electricity or the distribution of gas.
- the UK are either directly or indirectly employed in the transmission and distribution of gas or the transmission of electricity.
At 31 March 2007, 2,026 employees were employed in other operations.
c) Key management compensation
| 2007 £m |
2006 £m |
2005 £m |
|
|---|---|---|---|
| Salaries and short-term employee benefits | 8 | 7 | 6 |
| Post-employment benefits | 5 | 5 | 4 |
| Termination benefits | 1 | - | - |
| Share-based payments | 3 | 2 | 2 |
| 17 | 14 | 12 |
Key management compensation relates to the Board of Directors, including the Executive Directors and Non-executive Directors for the years presented, together with Mark Fairbairn for the three months prior to his appointment as Executive Director for Gas Distribution on 1 January 2007 and Cheryl LaFleur, acting executive director for Electricity Distribution, for the period from 1 October 2006. In addition to the amounts above Mike Jesanis received £0.3m with respect to a consultancy arrangement which will expire on 30 June 2007.