The price paid in excess of the nominal value of the

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Unformatted text preview: ociated interests companies 4 545 - - - (768) - - 3 777 - - - (98) - - 3 678 121 (675) - - - - 29 (524) 206 - - - - 63 (255) Other equity Total other transactions reserves 7 374 - - - - (2 178) - 5 196 - - - - (4 240) - 956 11 851 (201) 17 21 (768) (2 178) 29 8 771 160 15 37 (98) (4 240) 63 4 707 Net unrealised gains/losses reserve This reserve includes fair value changes on available-for-sale financial assets, amount reclassified from equity to profit on gain/(loss) related to disposal of shares available-for-sale and reclassification from equity to profit and loss on realisation of cash flow hedges. NOK in millions Change in fair value on shares available-for-sale Amount reclassified from equity to profit and loss related to cash flow hedges income taxes Total comprehensive income for the period 2010 Change in fair value on shares available-for-sale Amount reclassified from equity to profit and loss related to shares available-for-sale Total comprehensive income for the period 2011 Changes in net unrealised gains/losses reserve 10 646 (181) 475 9 (56) (47) Employee equity benefits reserve This reserve includes increases in the value of equity-settled share-based payments provided to employees, including key management personnel, as part of their remuneration. Transactions with non-controlling interests This reserve includes effects from transactions with non-controlling interests. In 2010, transaction with non-controlling interests was related to the capital increase in uninor. The loss is recognised directly against equity. See note 4. Equity adjustments in associated companies This reserve includes underlying adjustment on equity in associated companies, such as other comprehensive income, share buy backs and transactions with non-controlling interests. NOK in millions Equity as of 1 January 2010 Other comprehensive income, excluding effects of disposal Amount reclassified from equity to profit and loss Other comprehensive income, net of taxes Other changes in other reserves Equity as of 31 December 2010 Other comprehensive income, excluding effects of disposal Amount reclassified from equity to profit and loss on disposal Other comprehensive income, net of taxes Other changes in other reserves Equity as of 31 December 2011 Equity adjustments in associated companies 121 (675) (675) 29 (525) (210) 416 206 63 (255) /page 56/ telenor annual report 2011 notes to the financial statements / telenor group Other equity transactions This reserve includes the decrease in other reserves as a result of acquisition and sale/cancellation of treasury shares and the increase as a result of transfers from other paid-in capital, including transfers from other paid-in capital related to cancellation of treasury shares. The price paid in excess of the nominal value of the shares reduces this reserve. Cumulative translation differences Foreign currency Net Net translation of net investment Translation hedge Taxes differences 1 076 606 (36) 570 1 646 3 - 3 1 650 (755) (100) 10 (90) (845) (125) - (125) (970) NOK in millions Equity as of 1 January 2010 Changes during 2010, excluding effects of disposal Amount reclassified from equity to profit and loss on disposal Net changes during 2010 Equity as of 31 December 2010 Changes during 2011, excluding effects of disposal Amount reclassified fromequity to profit and loss on disposal Net changes during 2011 Equity as of 31 December 2011 investment (11 044) 914 3 528 4 441 (6 602) (898) 536 (363) (6 964) (10 723) 1 419 3 502 4 923 (5 800) (1 019) 536 (483) (6 284) The amounts reclassified from equity to profit and loss in 2011 were mainly related to the deemed disposal of Vimpelcom. The amount reclassified from equity to profit and loss in 2010 was mainly related to the disposal of Kyivstar. In 2011, the translation difference on net investment in foreign operation is mainly affected by appreciation of the Norwegian krone against the functional currencies of the Group’s major investments. The depreciation of the Bangladeshi Taka by 12%, the Hungarian Forint by 12% and the Indian Rupee by 14% had the most significant impacts. The depreciation of Thai Bath and the Swedish Krone and the appreciation of uS dollar also had significantly impact on the foreign currency translation on net investment even though the percentage change in the currencies was not significant. In 2010, the translation differences on net investment in foreign operations were affected by the depreciation of the Norwegian Krone against the functional currencies of the Groups’s major investments. The appreciation of the Swedish Krone by 8%, the Malaysian Ringgit and the Thai Bath by 13% and the Indian Rupee by 5% had the most significant impact. The depreciation of the Serbian Dinar by 14%, the Danish krone by 6% and the Hungarian forint by 8% had the opposite impact. Dividends dividends 2011 2010 dividend per share in NOK – paid dividend per share in NOK – proposed by the board of directors 3.80 5.00 2.50 3.80 Total dividends of NOK 6.2 billion were paid in 2011, while NOK 4.1 billion were paid in 2010. In respect of 2011, the Board of Directors propose a dividend of NOK 5.00 per share is paid to shareholders. This dividend is subject to approval by shareholders in the Annual General Meeting on 16 May 2012 and has not bee...
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This document was uploaded on 03/21/2014.

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