Hydro Annual Report 2011b
Hydro Annual Report 2011b
Hydro Annual Report 2011b
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F72<br />
FINANCIAL STATEMENTS<br />
Note 4 - Property, plant and equipment<br />
Amounts in NOK million Land Buildings<br />
Machinery,<br />
etc<br />
Plant under<br />
construction Total<br />
Cost December 31, 2010 6 102 219 327<br />
Additions at cost 5 5 11<br />
Retirements (5) (5) (10)<br />
Transfers 1 (1) <br />
Accumulated depreciation December 31, 2011 (40) (97) (136)<br />
Carrying value December 31, 2011 6 58 122 4 191<br />
Depreciation in 2011 (1) (18) (19)<br />
Note 5 - Intangible assets<br />
Amounts in NOK million<br />
Balance December 31, 2010 61 (5) 56<br />
Additions at cost 18 18<br />
Amortization for the year (6) (6)<br />
Impairment loss (21) (21)<br />
Balance December 31, 2011 79 (32) 47<br />
Note 6 - Financial income and expense<br />
Cost<br />
Accumulated<br />
amortization<br />
Carrying<br />
value<br />
Amounts in NOK million 2011 2010<br />
Dividends from subsidiaries 1 926 1 720<br />
Gain on sale of shares, tax free 122<br />
Interest from group companies 1 912 814<br />
Other interest income 71 86<br />
Interest paid to group companies (908) (220)<br />
Other interest expense (158) (169)<br />
Net foreign exchange gain 630 558<br />
Other, net 278 (117)<br />
Financial income, net 3 750 2 794<br />
Note 7 - Income taxes<br />
The tax effect of temporary differences resulting in deferred tax assets (liabilities) are:<br />
Temporary differences<br />
Tax effect<br />
Amounts in NOK million 2011 2010<br />
Shortterm items 1 140<br />
Pensions 178 183<br />
Other longterm items (182) (57)<br />
Deferred tax asset (3) 266<br />
In accordance with the preliminary accounting standard for tax, taxable temporary differences and deductible temporary<br />
differences, which reverse or may reverse in the same period, can be netted.
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