Annual Report 2011 - Mandarin Oriental Hotel Group

50 Mandarin Oriental International Limited
Notes to the Financial Statements Continued
3 Net financing charges
2011 2010
US$m US$m
Interest expense
– Bank loans (13.8 ) (14.0 )
Commitment and other fees (0.8 ) (0.8 )
Financing charges (14.6 ) (14.8 )
Interest income 2.6 1.7
Net financing charges (12.0 ) (13.1 )
4 Share of results of associates and joint ventures
Depreciation Net Net
and Operating financing profit/
EBITDA amortization profit charges Tax (loss)
US$m US$m US$m US$m US$m US$m
2011
Analysis by geographical area
– Other Asia 28.4 (9.1 ) 19.3 (2.0 ) (4.4 ) 12.9
– The Americas 4.3 (3.1 ) 1.2 (4.3 ) – (3.1 )
32.7 (12.2 ) 20.5 (6.3 ) (4.4 ) 9.8
Analysis by activity
– Hotel ownership 31.5 (11.5 ) 20.0 (6.1 ) (4.3 ) 9.6
– Other 1.2 (0.7 ) 0.5 (0.2 ) (0.1 ) 0.2
32.7 (12.2 ) 20.5 (6.3 ) (4.4 ) 9.8
2010
Analysis by geographical area
– Other Asia 23.5 (8.2 ) 15.3 (2.1 ) (5.2 ) 8.0
– The Americas 3.4 (2.9 ) 0.5 (4.3 ) 0.1 (3.7 )
26.9 (11.1 ) 15.8 (6.4 ) (5.1 ) 4.3
Analysis by activity
– Hotel ownership 25.9 (10.7 ) 15.2 (6.4 ) (4.9 ) 3.9
– Other 1.0 (0.4 ) 0.6 – (0.2 ) 0.4
26.9 (11.1 ) 15.8 (6.4 ) (5.1 ) 4.3