Annual Report 2010 - Magnitogorsk Iron & Steel Works

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2010(IN MILLIONS OF U.S. DOLLARS)ASSETSNON-CURRENT ASSETS:31 December2010 2009Property, plant and equipment 12,226 11,292Goodwill 290 292Other intangible assets 34 37Investments in securities and other financial assets 1,051 627Investments in associates 29 22Deferred tax assets 106 132Other assets 17 17Total non-current assets 13,753 12,419CURRENT ASSETS:Inventories 1,236 958Trade and other receivables 791 839Investments in securities and other financial assets 193 221Income tax receivable 37 12Value added tax recoverable 213 235Cash and cash equivalents 515 165Total current assets 2,985 2,430TOTAL ASSETS 16,738 14,84990
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2010(IN MILLIONS OF U.S. DOLLARS)EQUITY AND LIABILITIESEQUITY:31 December2010 2009Share capital 386 386Treasury shares (176) (67)Share premium 1,109 1,103Investments revaluation reserve 680 341Translation reserve (2,294) (2,230)Retained earnings 10,552 10,424Equity attributable to shareholders of the Parent Company 10,257 9,957Non-controlling interests 429 368Total equity 10,686 10,325NON-CURRENT LIABILITIES:Long-term borrowings 2,454 1,266Obligations under finance leases 7 24Retirement benefit obligations 25 19Site restoration provision 18 16Deferred tax liabilities 1,464 1,422Total non-current liabilities 3,968 2,747CURRENT LIABILITIES:Short-term borrowings and current portion of long-term borrowings 1,074 808Current portion of obligations under finance leases 13 20Current portion of retirement benefit obligations 3 2Trade and other payables 971 928Net assets attributable to minority participants 23 19Total current liabilities 2,084 1,777TOTAL EQUITY AND LIABILITIES 16,738 14,849Steel & Style , 10 MMK ANNUAL REPORT 91
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ContentsAnnual Report2010Editor-in-
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Products for the Automotive Sector6
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Statement of the Chairmanof the Boa
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Business Model ММК16
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18Diverse Product Mix and Sales Foo
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Significant Growth Potential20
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NEW TRACKSMMK’s Missionand Strate
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To localize their production, forei
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OJSC MMK Board of Directors' Report
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The Company's ProductionOperationsT
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The Company's Production Operations
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Any colouror hue foryourproduct!Col
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Page 49 and 50: The Head of the State also highly p
Page 67 and 68: Risk ManagementIn 2010, the followi
Page 76 and 77: MMK Industrial Waste108644,8Total s
Page 78 and 79: Stakeholder EngagementCorporate soc
Page 80 and 81: Demag, ThyssenKrupp, АМСОМ, AL
Page 82 and 83: Information forShareholders andInve
Page 84 and 85: OJSC MMK Share Quotes and Trading V
Page 86 and 87: conferences for investors with MMK
Page 88 and 89: Open Joint Stock CompanyMagnitogors
Page 92 and 93: CONSOLIDATED STATEMENT OF CHANGES I
Page 94 and 95: CONSOLIDATED STATEMENT OF CASH FLOW
Page 96 and 97: Information on Companies in Which O
Page 98 and 99: Part Description PagePart 2: Financ
Page 100 and 101: Use of the GRI Reporting Framework
Page 102: No. Description Pages CommentsEN2 P
Page 106 and 107: General Information on OJSC MMKFull
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Annual Report 2010 - Magnitogorsk Iron & Steel Works

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