Bahri Annual Report-2011

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)

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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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