Hydro Annual Report 2011b

Note 3 - Management remuneration, employee costs and auditor fees
See note 11 Employee and management remuneration in the notes to the consolidated financial statements for information and
details related to the Corporate Management Board remuneration. Costs for corporate management board members employed
by subsidiaries are charged to Norsk Hydro ASA for services rendered as members of the Corporate Management Board.
See note 44 Board of Directors and Corporate Assembly in the notes to the consolidated financial statements for information
and details related to the Board of Directors' remuneration.
Partners and employees of Hydro's appointed auditors, KPMG, own no shares in Norsk Hydro ASA or any of its subsidiaries.
At the Annual General Meeting May 4, 2010, KPMG AS was elected as new auditor of Norsk Hydro ASA with effect for the
fiscal year 2010. KPMG succeeded Deloitte AS as the company's auditor. The following table shows fees to the elected auditor
for 2011 and 2010.
Amounts in NOK million Audit
FINANCIAL STATEMENTS
Note 3 - Management remuneration, employee costs and auditor fees F71
Audit
related
Other
services
Tax
related Total
2011
Fees to KPMG 6 1 1 ­ 8
2010
Fees to KPMG 3 ­ ­ ­ 3
Fees to Deloitte 2 1 1 ­ 4
The average number of employees in Norsk Hydro ASA was 571 in 2011 as compared to 655 in 2010. As of year end 2011
and 2010 Norsk Hydro ASA employed 549 and 592 employees, respectively.
Total loans given by Norsk Hydro ASA to Norwegian employees as of December 31, 2011 were NOK 207 million. Loans to
employees consist of NOK 135 million secured loans (home and car loans) with the remainder unsecured. The unsecured loan
balance as of December 31, 2011 related to the employee share purchase plan was NOK 6 million.
A substantial number of employees in Norsk Hydro ASA are engaged in activities for other Group companies. The cost for
these employees is accounted for on a net basis, reducing Payroll and related costs. Employee related payroll expenses, on a net
basis, are given in the table below.
Amounts in NOK million 2011 2010
Payroll and related costs:
Salaries 677 728
Social security costs 114 136
Social benefits (4) 1
Net periodic pension cost (note 2) 61 92
Internal invoicing of payroll related costs (506) (484)
Total 341 473
Note 4 - Property, plant and equipment
Operating lease expense amounted to NOK 197 million in 2011 and NOK 199 million in 2010. The company has the
following future operating lease commitments under non-cancellable leases: 2012: NOK 195 million, 2013: NOK 195
million, 2014: NOK 195 million, 2015: NOK 195 million, 2016: NOK 195 million and thereafter: NOK 811 million.