John Lewis Partnership plc annual report and accounts 2012

3 Operating expenses

Table showing Operating expenses

2012 (£m) | 2011 (£m)

Branch operating expenses 1,796.9 | 1,643.7
Administrative expenses 461.5 | 462.1
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Total 2,258.4 | 2,105.8
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4 Net finance costs

Graph showing Net finance costs

2012 (£m) | 2011 (£m)

Finance costs
Interest payable on:
Bank loans and overdrafts 2.6 | 2.0
Other loans repayable within 5 years 12.2 | 16.7
Other loans repayable in more than 5 years 43.8 | 32.6
Finance lease interest payable 1.2 | 1.3
Amortisation of issue costs of bonds 1.0 | 1.1
Preference dividends 0.3 | 0.3
SIP dividends 1.6 | 1.3
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Finance costs in respect of borrowings 62.7 | 55.3
Premium paid on bond redemption – | 9.2
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Total finance costs in respect of borrowings 62.7 | 64.5
Fair value measurements and other 3.1 | 0.1
Net finance costs arising on other employee benefit schemes 6.5 | 4.7
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Total finance costs 72.3 | 69.3
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Finance income
Interest receivable (2.4) | (2.8)
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Finance income in respect of investments (2.4) | (2.8)
Fair value measurements and other (0.1) | (0.9)
Net finance income arising on defined benefit retirement schemes (note 24) (30.3) | (2.5)
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Total finance income (32.8) | (6.2)
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Net finance costs 39.5 | 63.1
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