Changes in net deferred taxes nokinmillions as of 1

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Unformatted text preview: ces, since there is not convincing evidence that sufficient future taxable profit will be available. Telenor Pakistan, which has unrecognised tax losses, has received reassessment from Tax Authorities in Pakistan concerning the deductibility of certain expenses in tax returns from previous years. Telenor Pakistan disagrees with the reassessment and has appealed it. No provision is made for this tax claim. /page 42/ telenor annual report 2011 notes to the financial statements / telenor group Tax effect of temporary differences and tax losses carried forward as of 31 December 2011 2010 Of which Of which deferred deferred deferred deferred tax assets not deferred deferred tax assets not tax assets liabilities recognised tax assets liabilities recognised 4 387 2 550 6 937 (7 116) (528) (1 749) (9 393) (312) (100) (412) 1 016 (453) (43) 5 182 13 134 (9 846) (921) 2 006 (2 927) (3 755) (4 209) - NOK in millions Tangible and intangible assets 3 665 undistributed earnings in foreign subsidiaries and associated companies - Other non-current items 2 410 Total non-current assets and liabilities 6 074 (6 029) (226) (1 612) (7 866) Total current assets and liabilities 1 048 (470) Tax losses carried forward Total deferred tax assets/liabilities Net deferred tax assets/liabilities Of which deferred tax assets Of which deferred tax liabilities 5 973 13 096 (8 336) (913) 1 275 (2 188) (711) (113) (824) (4 848) (5 672) Recognised deferred tax assets mainly relate to Norway and DTAC in Thailand. Changes in net deferred taxes NOK in millions As of 1 January Recognised in the income statement Recognised in other comprehensive income Acquisitions and disposals Translation differences on deferred taxes Tax effect from discontinued operations As of 31 December 2011 (921) (5) (125) (2) 140 - (913) 2010 (2 024) 1 521 (278) (44) (75) (22) (921) / 15 / Discontinued operations For discontinued operations, Group internal transactions remain consolidated and eliminated in the consolidated financial statements. Group external transactions are reclassified to discontinued operations. Accordingly, the tables presented below will not represent the activities of the discontinued operations on a stand-alone basis. There were no new discontinued operations during 2011. Cinclus Technology Cinclus Technology is a subsidiary of the Group and was a provider of Automatic Meter Reading technology. During 2010 Cinclus Technology ceased its original operations based on previous customer contracts, and disposed of all assets and liabilities relating to the operation of these contracts. The company has been looking at alternative activities during 2011. EDB Business Partner Following the merger with ErgoGroup ASA the Group’s ownership in EDB Business Partner ASA was diluted and the merged company was reported as an associated company from 30 September 2010. /page 43/ telenor annual report 2011 notes to the financial statements / telenor group The results of the Group’s discontinued operations: NOK in millions Revenues Expenses Operating loss Net financial income (expenses) Loss before taxes income taxes Loss from discontinued operations 2010 Total 4 773 (5 130) (357) (115) (472) 57 (415) Edb Cinclus 4 773 (5 297) (524) (115) (639) 82 (556) 167 167 167 (25) 142 Loss from discontinued operations attributable to: NOK in millions 2010 Non-controlling interests Equity holders of Telenor AsA (271) (144) Loss per share in NOK from discontinued operations basic diluted (0.25) (0.26) Net cash flows related to the Group’s discontinued operations: 2010 NOK in millions Total Edb Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities (367) (291) (333) (431) (247) (333) Cinclus 64 (44) - / 16 / Earnings per share From net income The calculations of the basic and diluted earnings per share attributable to the ordinary equity holders of Telenor ASA are based on the following income and share data: Earnings NOK in millions, except per share amount Net income attributable to the equity holders of Telenor AsA Effect of dilutive potential shares Net income for the purposes of diluted earnings per share basic earnings per share diluted earnings per share Number of shares in thousands 2011 2010 7 165 - 7 165 4.45 4.44 14 334 14 334 8.69 8.67 2011 2010 Weighted average number of shares for the purposes of basic earnings per share 1 610 965 1 649 205 Effect of dilutive potential shares: share options and bonus shares Weighted average number of shares for the purposes of diluted earnings per share 3 642 1 614 607 3 171 1 652 376 The denominators for the purposes of calculating both basic and diluted earnings per share have been adjusted for the effects of acquisition of treasury shares. /page 44/ telenor annual report 2011 notes to the financial statements / telenor group From continuing operations The calculation of the basic and diluted earnings per share from continuing operations attributable to the ordinary equity holders of Telenor ASA is based on the following income and share data: Earnings NOK in millions, except per share amount 2011 2010 Net income attributable to the equity holders of Telenor AsA 7 165 14 334 Adjusted for: loss from discontinued operations Net income for the purposes of basic earnings per share from continuing operations Effect of dilutive potential shares Net income for the purposes of diluted earnings per share from continuing operations basic earnings per...
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This document was uploaded on 03/21/2014.

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