NOTES TO THE FINANCIAL STATEMENTS CONTINUED S S 6 STAFF COSTS AND DIRECTORS’ EMOLUMENTS TR8 FINANCE EXPENSE TR (a) Staff costs (including Directors) A 2023 2022 A 2023 2022 TE £m £m TE £m £m G Bank loans, overdrafts and senior secured notes 151.3 166.0 G I I C C Wages and salaries 188.0 139.4 RForeign exchange loss on borrowings not designated as part of a hedging relationship – 156.2 R E E Social security costs 19.4 16.4 PInterest on lease liabilities (note 16) 4.1 4.5 P 1O O Expenses related to post-employment Defined Benefit plan – 16.0 RNet interest expense on the net Defined Benefit liability (note 26) 2.7 1.4 R Contributions to Defined Contribution plans 20.9 17.6 TInterest on contract liabilities held (note 21) 7.7 8.0 T 228.3 189.4 Effect of discounting on long-term liabilities 0.6 – G G 1. The year ended 31 December 2022 includes Defined Benefit plan closure costs of £12.5m as separately described in note 5 alongside the total in-year service costs of £3.5m separately OFinance expense before adjusting items 166.4 336.1 O disclosed in note 26. VEAdjusting finance expense items: VE R R The average monthly number of employees during the year were: NANLoss on financial instruments recognised at fair value through Income Statement (note 23) 19.0 – NAN Premium paid on the early redemption of Senior Secured Notes 8.0 14.3 2023 2022 C C By activity Number Number EWrite-off of capitalised borrowing fees upon early settlement of Senior Secured Notes 9.5 16.4 E Production 1,238 1,123 Professional fees incurred on refinancing expensed directly to the Income Statement – 1.9 Selling and distribution 342 276 FTotal adjusting finance expense 36.5 32.6 F I I Administration 1,160 1,138 NANTotal finance expense 202.9 368.7 NAN 2,740 2,537 C C IAL 9 TAXATION IAL S 2023 2022 S (b) Directors’ emoluments and transactions T £m £m T 2023 2022 A A £m £m T T E UK corporation tax on result 0.3 0.2 E M M Directors’ emoluments 4.4 3.1 EOverseas tax 1.7 7.4 E N N Company contributions to pension schemes 0.1 0.1 TPrior period movement (0.1) – T Share related awards – 0.8 STotal current income tax charge 1.9 7.6 S Compensation for loss of office – 0.7 F F 4.5 4.7 U U R Deferred tax credit R T T H Origination and reversal of temporary differences (15.1) 29.4 H E E All Directors benefited from qualifying third-party indemnity provisions. Further information relating to Directors’ remuneration is set out in the Directors’ R R Remuneration Report on pages 108-122. INFPrior period movement 0.2 (4.3) INF Total deferred tax (credit)/charge (14.9) 25.1 (c) Compensation of key management personnel (including Executive Directors) ORTotal income tax (credit)/charge in the Income Statement (13.0) 32.7 OR 2023 2022 M M £m £m A A T T I I Short-term employee benefits 11.0 5.6 ONTax relating to items (charged)/credited to other comprehensive income ON Post-employment benefits 0.5 0.4 Deferred tax Compensation for loss of office – 0.7 Actuarial movement on Defined Benefit plan – 1.7 Share related awards 0.2 0.8 Fair value adjustment on cash flow hedges (1.2) (0.8) 11.7 7.5 (1.2) 0.9 7 FINANCE INCOME Tax relating to items charged in equity – deferred tax 2023 2022 Effect of equity settled share based payment charge (0.5) – £m £m Bank deposit and other interest income 13.5 3.0 Foreign exchange gain on borrowings not designated as part of a hedging relationship 60.8 – Finance income before adjusting items 74.3 3.0 Adjusting finance income items: Foreign exchange gain on financial instrument utilised during refinance transactions – 4.1 Gain on financial instruments recognised at fair value through Income Statement (note 23) – 8.4 Total adjusting finance income – 12.5 Total finance income 74.3 15.5 ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 161