ANNUAL REPORT 2011 - DONG Energy

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notes 10 Subsidiaries and other securities Investments in subsidiaries Other securities DKK million 2011 2010 2011 2010 Cost at 1 January 25,702 25,995 - 1,173 Additions - - - 130 Disposals - (293) - (1,303) Cost at 31 December 25,702 25,702 0 0 Value adjustments at 1 January (19) (19) - - value adjustments at 31 December (19) (19) 0 0 Carrying amount at 31 December 25,683 25,683 0 0 Investments in subsidiaries were tested for impairment in 2011. No impairment losses have been recognised, as the recoverable amount exceeded the cost. 11 Receivables DONG Energy A/S did not acquire or dispose of any enterprises in 2011. In 2010, DONG Energy Frederiksberg Elnet was disposed of. For a list of subsidiaries, reference is made to note 23. DKK million 2011 2010 Receivables from subsidiaries 54,649 34,143 Receivables from jointly controlled entities 328 - non-current receivables at 31 December 54,977 34,143 Receivables from subsidiaries 8,103 21,518 Fair value of derivative financial instruments, see note 19 6,274 5,877 Deposits 23 13 Receivables from Group trading partner 1,713 - Other receivables 38 193 Current receivables at 31 December 16,151 27,601 Current and non-current receivables at 31 December 71,128 61,744 172 parEnt COmpany finanCial statEmEnts – DONG ENERGY ANNUAL REPORT 2011
12 Equity Share capital composition and dividends are disclosed in note 22 to the consolidated financial statements. 13 Deferred tax DKK million 2011 2010 Deferred tax at 1 January 1,170 1,058 Deferred tax for the year recognised in profit for the year (34) 1 Adjustments in respect of prior years 578 111 Deferred tax at 31 December 1,714 1,170 Deferred tax is recognised in the balance sheet as follows: Deferred tax (liabilities) 1,714 1,170 Deferred tax at 31 December, net 1,714 1,170 Deferred tax relates to: Property, plant and equipment 18 18 Current assets (65) (10) Non-current liabilities 17 17 Current liabilities 128 - Retaxation 2,548 1,701 Tax loss carryforwards (932) (556) Deferred tax at 31 December 1,714 1,170 DONG ENERGY ANNUAL REPORT 2011 – parEnt COmpany finanCial statEmEnts 173 notes
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MOVING ENERGY FORWARD ANNUAL REPORT
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More reliable and clean energy DONG
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More reliable and clean energy Mode
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Q3 17 August signing of Eur 1.3 bil
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ifrs statement of comprehensive inc
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un Global Compact principle Climate
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Spearheading the development of the
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Waste is a valuable resource It is
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DONG Energy involves local operator
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The ambitious business strategy mea
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DONG Energy contributes to green gr
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The photo shows the Siri platform i
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The photo shows the construction of
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The photo shows one of the Group’
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Strong market insight from experien
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The photo shows a meter technician
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monthly average 2011 2010 ∆ Oil,
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Net finance costs amounted to DKK 0
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New presentation of profit for the
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Non-financial performance The Group
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volumes Generation from wind and hy
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was brought back online in October
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Further information on DONG Energy
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DONG Energy has a diversified loan
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Market and credit risks The Group
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isk and risk policy Exposure and he
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isk and risk policy Exposure and he
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Environment As an energy company, D
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Under Danish legislation, the Group
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information and communication DONG
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lars nØrBy JOHansEn Deputy Chairma
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pOul arnE niElsEn b. 1944. Joined t
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The Board of Directors and the Exec
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notes to the statement of cash flow
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DKK million Note Business perfor ma
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Equity and liabilities DKK million
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DKK million Share capital Hedging r
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DKK million Note 2011 2010 suppleme
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02 Critical accounting estimates an
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The excess of the cost of the acqui
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• wind power: Development, constr
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Geographical breakdown 2011 DKK mil
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econciliations DKK million 2011 201
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emuneration of Board of Directors,
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08 Fee to auditor appointed at the
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13 Income tax expense DKK million 2
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DKK million Goodwill Cost at 1 Janu
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The main criteria used for determin
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DKK million Land and Impairment tes
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17 Associates and other securities
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19 Receivables DKK million 2011 201
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20 Construction contracts DKK milli
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Hybrid capital due 3005 Hybrid capi
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Change in temporary differences in
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25 Loans and borrowings DKK million
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27 Income tax receivable and payabl
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29 Disposal of enterprises DKK mill
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Other capital transactions with non
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Risk Price change Effect on profi t
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Categories of fi nancial instrument
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securities 2011 DKK million Nominal
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trading portfolio, economic hedging
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Page 139 and 140: eporting enterprise operates. Trans
Page 141 and 142: CO 2 emissions allowances Allocated
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Page 147 and 148: significant licences and hydrocarbo
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Page 167 and 168: DKK million Share capital Hedging r
Page 169 and 170: 01 Basis of reporting The parent co
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Page 173 and 174: 06 Finance income DKK million 2011
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Page 181 and 182: 18 Financial risks DONG Energy A/S
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Page 189 and 190: Independent Auditor’s Report To t
Page 191 and 192: coMPany announceMents IN 2011 Compa
Page 193 and 194: glossaRy relatively low (off-peak).
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ANNUAL REPORT 2011 - DONG Energy

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