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77
Notes to the consolidated financial
statements, REC Group
REC Annual Report 2011
Condensed statement of financial position
REC Site Services Pte Ltd is owned by REC ASA, and RECWafer Pte Ltd is owned by RECWafer Norway AS. These shareholdings
(carrying value of shares in subsidiaries, after any impairment of shares) and related financing are included in the condensed statement
of financial position figures for REC ASA and RECWafer Norway AS, respectively. These shareholdings (before any impairment of shares)
are eliminated to equity in the column “elimination”. The condensed statement of financial position for REC Solar includes the equity of
REC Site Services Pte Ltd and RECWafer Pte Ltd.
Condensed statement of financial position at December 31, 2011
(NOK INMILLION)
REC SILICON RECWAFER REC SOLAR
OTHER ELIMINATION REC GROUP
Intangible assets
568
0
77
17
0
661
Property, plant and equipment
10 701
34
4 641
49
0
15 425
Prepaid lease, non-current
0
0
198
0
0
198
Financial assets and prepayments
825
989
257
9 646
-10 474
1 244
Deferred tax assets
0
0
4
0
2
5
Non-current assets
12 094
1 023
5 177
9 712
-10 472
17 534
Inventories
742
308
1 413
0
-80
2 383
Prepaid lease, current
0
0
11
0
0
11
Trade and other receivables
764
661
1 226
461
-559
2 553
Assets held for sale
0
14
0
0
0
14
Current income tax assets
64
0
6
0
0
70
Current derivatives
0
0
0
310
0
310
Cash and cash equivalents
537
11
902
3 046
-2 900
1 596
Total current assets
2 106
993
3 559
3 817
-3 539
6 936
Total assets
14 200
2 016
8 736
13 529
-14 012
24 470
Equity
4 929
-1 432
2 830
6 733
-868
12 192
Pension/retirement benefit liabilities
91
20
5
9
0
125
Deferred tax liabilities
2 182
0
9
0
326
2 518
Provisions
0
114
332
2
0
447
Non-current derivatives
0
7
0
86
0
94
Non-current financial liabilities interest bearing
6 126
687
180
6 412
-7 292
6 113
Non-current prepayments, interest calculation
200
14
0
0
0
214
Other non-current liabilities
0
113
0
0
-113
0
Non-current liabilities
8 599
956
526
6 509
-7 079
9 511
Trade payables and other liabilities
515
358
1 231
199
-561
1 742
Provisions
0
234
114
6
0
354
Current income tax liabilities
0
0
29
0
0
29
Current derivatives
0
55
0
79
0
134
Current financial liabilities, interest bearing
1
1 653
4 006
3
-5 504
159
Current prepayments, interest calculation
157
192
0
0
0
349
Current liabilities
673
2 493
5 380
287
-6 065
2 767
Total liabilities
9 272
3 448
5 906
6 796
-13 144
12 278
Equity and liabilities
14 200
2 016
8 736
13 529
-14 012
24 470