The National Shipping Company of Saudi Arabia
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21. GENERAL AND ADMINISTRATIVE EXPENSES
General and administrative expenses for the year ended December 31 comprise the following:
2011
2010
86,845
80,180
Employees’ costs
12,669
17,604
Other general and administrative expenses
5,774
1,884
Depreciation
Boards of Directors expenses for the Company and its subsidiaries
4,372
4,133
109,660
103,801
22. OTHER INCOME (EXPENSE), NET
Other income (expense), net for the year ended December 31 comprises the following:
2011
2010
4,336
5,784
Income from Murabaha and short-term deposits
2,035
3,267
Income (losses) from investments, net
(152)
(173)
Bank commissions
99
152
Gains on sale of fixed assets
Recovery on cancelled ships construction contracts (Note 12)
---
15,122
(1,469)
(181)
Foreign currency exchange differences
7,535
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Excess recovery against insurance claim
6,183
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Recovery against law suit
1,986
1,654
Other
20,553
25,625
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