ANNUAL REPORT 2011 - DONG Energy

notes
26 Interest-bearing debt and capital employed
DKK million 2011 2010
interest-bearing net debt can be broken down as follows:
interest-bearing debt
Bond loans 22,678 26,570
Bank loans 17,549 11,333
Payables to associates 10 43
Other interest-bearing liabilities 724 450
interest-bearing debt 40,961 38,396
interest-bearing assets
Securities 9,914 7,620
Cash 2,342 4,147
Of which non-interest-bearing (48) (15)
Receivables from associates and jointly controlled entities 1,427 815
Of which non-interest-bearing (11) (262)
Receivables from the disposal of equity investments to non-controlling interests 1,345 1,740
Capital contributions receivable from non-controlling interests 2,103 2,212
Interest-bearing assets classifi ed as held for sale 274 -
interest-bearing assets 17,346 16,257
interest-bearing net debt 23,615 22,139
Capital employed can be broken down as follows:
Operating assets
Total assets 154,073 137,339
Interest-bearing assets (17,346) (16,257)
non-interest-bearing assets 136,727 121,082
Operating liabilities
Total liabilities 96,333 86,031
Interest-bearing debt (40,961) (38,396)
non-interest-bearing debt 55,372 47,635
non-interest-bearing net assets 81,355 73,447
reconciliation
Non-interest-bearing net assets 81,355 73,447
Interest-bearing net debt (23,615) (22,139)
Equity 57,740 51,308
102 106 COnsOliDatED finanCial statEmEnts – DONG ENERGY GROUP ANNUAL ANNUAL REPORT REPORT 2011
2011