Hydro Annual Report 2011b

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F38 FINANCIAL STATEMENTS Note 23 - Intangible assets Note 23 - Intangible assets Amounts in NOK million Intangible assets under development Capitalized software systems Mineral rights Other intangible assets Total Cost December 31, 2009 158 1 029 1 485 2 672 Additions 121 19 88 229 Disposals (3) (73) (77) Transfers (222) 222 Foreign currency translation effect (1) (39) (49) (89) December 31, 2010 55 1 228 1 451 2 735 Acquisitions through business combinations 74 1 113 1 855 3 043 Other additions 33 46 94 173 Disposals (8) (39) (47) Transfers (5) 5 Foreign currency translation effect (7) (46) (119) (172) December 31, 2011 84 1 334 1 067 3 247 5 731 Accumulated amortization and impairment December 31, 2009 (766) (1 018) (1 784) Amortization for the year (72) (59) (131) Disposals 8 40 48 Foreign currency translation effect 33 34 67 December 31, 2010 (797) (1 003) (1 800) Amortization for the year 1) (108) (139) (247) Impairment loss (77) (78) Disposals 7 5 12 Foreign currency translation effect 4 8 12 December 31, 2011 (895) (1 207) (2 102) Carrying value December 31, 2010 55 431 448 934 December 31, 2011 84 438 1 067 2 040 3 629 1) Amortization of a sourcing contract is reported as Raw material and energy expense in the income statement.
Note 24 - Goodwill Bauxite & Metal Extruded Amounts in NOK million Alumina Markets Products Total Cost December 31, 2009 236 756 992 Foreign currency translation effect 2 (8) (7) December 31, 2010 238 747 985 Additions 3 499 3 499 Foreign currency translation effect (189) 6 (183) December 31, 2011 3 310 244 747 4 301 Carrying value FINANCIAL STATEMENTS Note 24 - Goodwill F39 December 31, 2010 238 747 985 December 31, 2011 3 310 244 747 4 301 See note 13 Impairment of non-current assets for information about the impairment testing of goodwill on an annual basis. Note 25 - Investments in associates Amounts in NOK million Alunorte Aluchemie SKS Produksjon NorSun Ascent Solar Other Total December 31, 2009 6 276 573 345 180 174 209 7 757 Investments (sale), net 37 7 50 94 Change in longterm advances, net 30 (6) 24 Hydro's share of net income (loss) 206 13 36 (39) (52) 7 171 Amortization (19) (16) (5) (3) (3) (47) Impairment losses (58) (58) Dividends and other payments received by Hydro (69) (24) (93) Foreign currency translation and other 329 (34) (13) 9 8 298 December 31, 2010 6 724 565 338 120 135 265 8 148 Investments Change in longterm advances, net 10 (10) Hydro's share of net income (loss) 21 14 20 (4) (44) 10 18 Amortization (3) (16) (3) (3) (25) Impairment losses (116) (56) (172) Dividends and other payments received by Hydro (43) (35) (3) (81) Derecognized investments (6 482) (340) (122) (6 944) Foreign currency translation and other (217) (4) 20 (7) (4) (211) December 31, 2011 569 29 133 732 Change in elimination of internal profit in inventory on goods sold from associates to Hydro amounted to a loss of NOK 13 million and NOK 1 million in 2011 and 2010, respectively.
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Annual Report - 2011
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Annual Report - 2011 HyDRO’S REPO
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Aluminium market price weakens LME
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cost renewable energy production, w
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Corporate Management Board AnnuAl r
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• Secure stable production and fi
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Key financial information NOK milli
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for foundry alloys continued to be
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• Using viable energy sources •
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Share of non-Norwegian leaders Perc
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Capital employed - - upstream focus
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petitive supply of standard alumini
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Further improved bauxite and alumin
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Alumina production Million mt 7 6 5
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and Hydro - but both have also rest
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Operations Hydro’s primary alumin
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Plant Country Employees (per Dec. 3
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Active risk management We have deve
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Contribution margin to profit EUR p
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Flat rolled products consumption We
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Build on the high performance of ou
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European extrusion consumption (tot
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Operations Hydro is a global energy
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expected remediation costs relating
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Direct greenhouse gas emissions fro
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The Qatalum aluminium plant, in whi
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postponed in 2011 due to the market
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Water management Enough clean water
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The annual business planning proces
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Total payments (taxes, fees, etc.)
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Qatalum, where Hydro holds a 50 per
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Effective organization Hydro had 22
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Cooperating for safety at Slovalco
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from a 10-year perspective, we redu
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In 2011, we established an electron
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sold or demerged during the year ha
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vIABIlItY perForMAnCe Auditor’s R
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Current income tax tax vIABIlItY pe
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Environment Greenhouse gases gases
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Total waste vIABIlItY perForMAnCe F
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81 FInAnCIAl AnD operAtInG perForMA
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FINANCIAL AND OPERATING PERFORMANCE
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Market developments and outlook Mar
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Items excluded from underlying EBIT
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Items excluded from underlying EBIT
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Financial income (expense), net Yea
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Primary Metal Operational and finan
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Liquidity and capital resources The
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3) Including provisions for pension
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108 RISK REVIEW Risk factors Risk f
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110 RISK REVIEW Risk factors or var
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112 RISK REVIEW Risk factors leadin
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Share price development in 2011 Sha
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Major shareholders and voting right
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Key figures for the Hydro share Key
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Tittel Hydro present Based in Norwa
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Corporate directives and code of co
Page 125 and 126: Pre-approval of audit services The
Page 127 and 128: Billy Fredagsvik, employee represen
Page 129 and 130: Hans-Joachim Kock Key experience: H
Page 131 and 132: Description Developments and events
Page 133 and 134: Topic Comments References Transacti
Page 135 and 136: Topic Comments References 8 Corpora
Page 137: Topic Comments References 13 Inform
Page 140 and 141: F2 FINANCIAL STATEMENTS Consolidate
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Page 168 and 169: F30 FINANCIAL STATEMENTS Note 10 Bo
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Page 194 and 195: F56 Financial assets, classified as
Page 202 and 203: F64 FINANCIAL STATEMENTS Financial
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Page 208 and 209: F70 FINANCIAL STATEMENTS Note 2 - E
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Page 214 and 215: F76 FINANCIAL STATEMENTS Responsibi
Page 216 and 217: F78 FINANCIAL STATEMENTS Auditor's
Page 218 and 219: PENDIX A2 Appendix A1 APPENDIX Term
Page 220: Hydro is a global supplier of alumi
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Hydro Annual Report 2011b

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