| Year ended 2 January 2010 $ million |
Restated* Year ended 3 January 2009 $ million |
Restated* Year ended 29 December 2007 $ million |
|
|---|---|---|---|
| Borrowings: | |||
| – Interest on bank overdrafts | 4.6 | 2.3 | 1.6 |
| – Interest on loans | 54.5 | 42.6 | 57.3 |
| – Interest on interest rate swaps in designated hedging relationships: | |||
| Payable | 22.1 | 55.6 | 61.8 |
| Receivable | (44.7) | (47.2) | (54.6) |
| – Interest on interest rate swaps classed as held for trading: | |||
| Payable | 3.0 | 2.8 | 8.6 |
| Receivable | (0.6) | (2.2) | (10.4) |
| 38.9 | 53.9 | 64.3 | |
| Interest element of finance lease rentals | 0.4 | 0.5 | 1.4 |
| Other interest payable | 3.9 | 5.0 | 0.1 |
| 43.2 | 59.4 | 65.8 | |
| Dividends payable on preference shares | – | – | 1.2 |
| 43.2 | 59.4 | 67.0 | |
| Post-employment benefits: | |||
| – Interest cost on benefit obligation (see note 34) | 70.0 | 78.4 | 77.3 |
| 113.2 | 137.8 | 144.3 | |
| Continuing operations | 113.2 | 137.8 | 142.1 |
| Discontinued operations | – | – | 2.2 |
| 113.2 | 137.8 | 144.3 | |
Interest rate swaps are used to manage the interest rate profile of the Group's borrowings. Accordingly, net interest payable or receivable on interest rate swaps is included in interest payable.