Hydro Annual Report 2011b

F74
FINANCIAL STATEMENTS
Note 9 - Related party information
Norsk Hydro ASA operates the cash pooling arrangements in Hydro. Further, Norsk Hydro ASA extends loans to subsidiaries,
associates and jointly controlled entities at terms and conditions reflecting prevailing markets conditions for corresponding
services, allowing for a margin to cover administration and risk. See note 6 Financial income and expense for information on
interest paid to and received from group companies.
Norsk Hydro ASA allocates cost for corporate staff services and shared services to subsidiaries. The total amount allocated in
2011 was NOK 226 million.
Transactions with associates and jointly controlled entities consist mainly of loans to such entities owned by subsidiaries of
Norsk Hydro ASA.
For information on transactions with employees and management, see note 3 Management remuneration, employee costs and
audit fees and note 11 Employee and management remuneration in the notes to the consolidated financial statements. For
information on transactions with Board of Directors and Corporate Assembly see note 44 Board of Directors and Corporate
Assembly in the notes to the consolidated financial statements.
Note 10 - Specification of balance sheet items
Amounts in NOK million 2011 2010
Securities 536 536
Prepaid pension 1 466 1 372
Associates and jointly controlled entites 22 28
Other non­current assets 557 577
Total prepaid pension, investments and other non­current assets 2 579 2 512
Prepaid expenses 61 166
Trade receivables 68 48
Other current assets 35 31
Total prepaid expenses and other current assets 163 245
Employee deposits 381 404
Other interest­bearing debt 209 17
Total bank loans and other interest­bearing short­term debt 590 421
Note 11 - Guarantees
Norsk Hydro ASA provides guarantees arising in the ordinary course of business including stand-by letters of credit,
performance bonds and various payment or financial guarantees. Guarantees in connection with the sale of companies, referred
to as sales guarantees in the table below, reflect the maximum contractual amount that Hydro could be liable for in the event of
certain defaults or the realization of specific uncertainties. Guarantees related to jointly controlled entities primarily relate to
Qatalum. See note 37 Guarantees in the consolidated financial statements for additional information.
Amounts in NOK million 2011 2010
Guarantees related to jointly controlled entities 7 696 7 656
Sales guarantees 600 1 695
Commercial guarantees 4 607 4 188
Total guarantees not recognized 12 903 13 539