John Lewis Partnership plc annual report and accounts 2012

Notes to the accounts continued

2 Segmental reporting (continued) Corporate

Table showing Segmental reporting (continued)

29 January 2011 | Waitrose (£m) | John Lewis (£m) | Corporate and other (£m) | Group (£m)

Gross sales 4,974.6 | 3,231.7 | – | 8,206.3
Adjustment for sale or return sales – | (116.0) | – | (116.0)
Value added tax (274.7) | (453.8) | – | (728.5)
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Revenue 4,699.9 | 2,661.9 | – | 7,361.8
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Operating profit excluding property profits 273.0 | 198.4 | (42.3) | 429.1
Property profits 1.9 | – | – | 1.9
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Operating profit 274.9 | 198.4 | (42.3) | 431.0
Finance costs – | – | (69.3) | (69.3)
Finance income – | – | 6.2 | 6.2
Partnership bonus – | – | (194.5) | (194.5)
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Profit before tax 274.9 | 198.4 | (299.9) | 173.4
Taxation – | – | (46.0) | (46.0)
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Profit after tax 274.9 | 198.4 | (345.9) | 127.4
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Segment assets 2,520.2 | 1,597.9 | 828.5 | 4,946.6
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Segment liabilities (490.8) (467.7) (1,915.3) (2,873.8)
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Net assets 2,029.4 | 1,130.2 | (1,086.8) | 2,072.8
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Other segment items:
– Depreciation 122.1 | 81.2 | 12.2 | 215.5
– Amortisation of intangible assets 8.4 | 8.6 | 7.0 | 24.0
– Capital expenditure – property, plant and equipment 333.8 | 97.5 | 17.9 | 449.2
– Capital expenditure – intangible assets 20.2 | 22.0 | 1.3 | 43.5
– Movement in provisions (2.0) | 9.4 | 5.7 | 13.1

The comparatives have been re-presented in respect of John Lewis Insurance operations to be on a consistent basis to the current year. These were previously reported within Corporate and other and are now included within John Lewis.

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