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4. Expenses

2020
$m

2019
$m

Cost of sales1

8,512

9,440

Administrative expenses

238

289

Employee benefits expenses

635

601

Other expenses

(Gain)/loss on fair value of financial instruments

(328)

198

Contracts and materials

288

306

Impairment loss on trade receivables (net of bad debts recovered)

119

120

Marketing expenses

45

53

Short term lease and outgoings expenses

22

12

Impairment loss on investment in a joint venture

14

-

Acquisition costs

7

-

Net loss on disposal of property, plant and equipment

9

-

Derecognition of assets and costs associated with exit of business

-

47

Net loss on disposal of joint operation

-

2

Other

259

168

Total expenses

9,820

11,236

  1. 1 Includes $3 million of depreciation expense for wind assets.

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