8. EXPENSES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 3 months to  31 Mar 2013 $000 12 months to  31 Dec 2012 $000 3 months to  31 Mar 2012 $000 (reviewed) (a) Depreciation  Depreciation of: - Buildings and leasehold improvements 1,157 3,546  877 - Plant and equipment 1,571 5,859 1,326 Total depreciation 2,728 9,405 2,203 (b) Net finance costs Bank loans and overdrafts 6,459 28,061 6,583 Other financing charges   252 1,290  505 Total finance costs 6,711 29,351 7,088 Mark to market valuation of interest rate swaps - (2,219) (778) Net finance costs 6,711 27,132 6,310 (c) Other expenses Provision for employee benefits - Annual leave  337 1,083 301 - Long service leave 68  178 60 Total provision for employee benefits  405 1,261  361 Minimum lease payments – operating leases  2,186 5,433 1,095 Research and development expenses charged directly to administration expense  22 48 - (d) Employee expenses Salaries and wages 8,344 27,052 5,715 Workers’ compensation expense 477 1,493  357 Defined contribution superannuation expense 605 2,387  454 Other employment benefits 334  952  250 Share-based payments expense 130  751 60 Payroll tax 401 1,589  320 10,291 34,224 7,156 (e) Administration and other non-station operating costs Administration and other 5,143 (352) 3,357 Commodity and foreign currency trading expense/(benefit) 851 (3,680) (96) 5,994 (4,032) 3,261 Annual Report 2013 77