However some space is vacant or rented to external

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Unformatted text preview: ) (36) 1 272 10 872 (85 378) Carrying amount As of 31 December 2011 10 220 8 389 295 4 810 6 570 1 132 7 634 878 2 578 2 177 4 937 49 620 As of 31 December 2010 10 092 9 560 329 5 661 7 305 1 174 8 008 900 2 996 2 367 4 571 52 963 depreciation periods in years 3) 3–30 5–30 3 3–10 5–15 3–15 3–90 - 3–10 17–18 - 1) Net additions. 2) including reclassifications to/from other lines in the statement of financial position which is not a part of this table. 3) Asset categories presented in this movement schedule is an aggregated total from different asset components belonging to a particular category, and the disclosed depreciation rates represent a range of useful lives allocated to components. The Group has finance leases with carrying amounts of NOK 859 million as of 31 December 2011 (NOK 950 million as of 31 December 2010). These assets are as of 31 December 2011 primarily fibre optic network (local, regional and trunk networks) of NOK 509 million in Grameenphone in Bangladesh and DiGi in Malaysia (NOK 599 million in 2010), and properties (buildings and land) of NOK 341 million in Denmark and Sweden (NOK 350 million in 2010). As of 31 December 2011, future minimum annual rental commitments under finance leases (the Group as a lessee) were as follows: NOK in millions Future minimum lease payments less amount representing interest Net present value of finance lease obligations Within 1 year 98 (83) 15 2 5 years More than 5 years 463 (340) 124 1 216 (501) 715 As of 31 December 2010, future minimum annual rental commitments under finance leases (the Group as a lessee) were as follows: NOK in millions Future minimum lease payments less amount representing interest Net present value of finance lease obligations Within 1 year 94 (84) 10 2 5 years 455 (377) 77 More than 5 years 1 511 (701) 810 /page 50/ telenor annual report 2011 notes to the financial statements / telenor group The Group has buildings that have been acquired for the use by the Group. However, some space is vacant or rented to external parties. In evaluating whether these parts of buildings are investment properties, the Group has evaluated if the parts in the building which are no longer used by the Group are separate or discrete from the rest of the building, and if these parts comprise a significant portion of the building. The evaluation by the Group has not identified any investment properties. / 21 / Associated companies and joint ventures Associated companies: NOK in millions 2011 2010 Balance as of 1 January 30 776 16 981 Additions 2 686 16 337 disposals (75) (7 544) share of net income 2 114 3 145 Equity transactions including dividends (2 306) (1 750) share of other comprehensive income (210) (675) Translation differences 820 4 282 Reclassified as held for sale (83) Balance as of 31 December 33 722 30 776 Of which investments carried at a negative value 1) 245 250 Carrying amount of investments in associated companies 33 967 31 026 1) Associated companies are carried at negative values where the Group has other long term interests that in substance form part of the capital invested (classified against long term receivables on associates), or a corresponding liability above and beyond the capital invested (classified as provision). Additions in 2011 primarily relates to the dilution of the Group’s ownership interest in VimpelCom Ltd. from 39.58% to 31.67% following VimpelCom’s acquisition of Wind Telecom on 15 April 2011. The transaction is accounted for as a deemed disposal with a gain of NOK 1.6 billion recognised in the income statement. Additions and disposals in 2010 were primarily related to the contribution of the Group’s 56.5% ownership interest in Kyivstar to VimpelCom Ltd. Fair value of Kyivstar at the transaction date was NOK 18.7 billion and the Group recognised a gain on disposal of NOK 6.7 billion after elimination of the gain related to the Group’s ownership in VimpelCom Ltd. The gain in the income statement related to Kyivstar amounted to NOK 6.5 billion after recognition of transaction related cost. Specifications of investments in associated companies share NOK in millions VimpelCom ltd. C More Group Ab Edb ErgoGroup AsA A-Pressen As RiksTV As Others Total 1) 2) Carrying amount as of shareof net owned in % 1) 31 december 2011 income 2011 2) 31.7 35.0 30.2 48.2 33.3 - 31 293 484 958 762 (241) 466 33 722 2 519 (653) 43 150 6 49 2 114 The share owned and voting interests are the same except for VimpelCom ltd., where the voting interests are 25.01% as of 31 december 2011. share of net income includes the Group’s share of net income after taxes, amortisation of excess values, impairment losses and adjustment for differences in accounting policies. In 2010, the Group started to include VimpelCom Ltd.’s published results with a one quarter lag, see note 3 for further details. Accordingly, share of net income from VimpelCom Ltd. in 2011 consists of share of net income for the fourth quarter of 2010, the first th...
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This document was uploaded on 03/21/2014.

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