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Notes to the accounts

continued

2 Segmental reporting (continued)

John Lewis Waitrose Corporate and other Group
31 January 2009 – Restated £m £m £m £m

Gross sales 2,811.1 4,156.4 – 6,967.5
Adjustment for sale or return sales (109.0) – – (109.0)
Value added tax (375.0) (216.3) – (591.3)

Revenue 2,327.1 3,940.1 – 6,267.2

Operating profit excluding property profits 144.3 211.5 (37.1) 318.7
Property profits 1.6 3.0 – 4.6

Operating profit 145.9 214.5 (37.1) 323.3
Finance costs – – (55.1) (55.1)
Finance income – – 11.4 11.4
Exceptional gain in respect of associate – – 127.4 127.4
Partnership bonus – – (125.4) (125.4)

Profit before tax 145.9 214.5 (78.8) 281.6
Taxation – – (48.1) (48.1)

Profit after tax 145.9 214.5 (126.9) 233.5

Segment assets 1,516.6 2,123.2 400.6 4,040.4

Segment liabilities (330.4) (419.2) (1,568.0) (2,317.6)

Net assets 1,186.2 1,704.0 (1,167.4) 1,722.8

Other segment items:
– Depreciation 67.3 104.5 9.3 181.1
– Amortisation of intangible assets 7.2 8.9 4.9 21.0
– Capital expenditure – property, plant and equipment 128.2 223.4 13.4 365.0
– Capital expenditure – intangible assets 11.9 10.5 16.8 39.2
– Movement in provisions (12.4) 1.4 (1.5) (12.5)

The presentation of prior year results has been restated in respect of the financing element of other employee benefit schemes (long service leave) as explained in note 1.