ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
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17 Associates and other securities<br />
Investments in associates Other equity investments Other securities<br />
DKK million <strong>2011</strong> 2010 <strong>2011</strong> 2010 <strong>2011</strong> 2010<br />
Cost at 1 January 3,317 4,143 517 269 - 1,173<br />
Foreign exchange adjustments 5 7 - - - -<br />
Additions 133 57 63 248 - 130<br />
Disposals - - (19) - - (1,303)<br />
Disposal on disposal of associates - (1,103) - - - -<br />
Capital contributions 259 232 - - - -<br />
Capital reductions (9) - - - - -<br />
Transfers to assets classifi ed as held for sale - (19) - - - -<br />
Cost at 31 December 3,705 3,317 561 517 0 0<br />
Value adjustments at 1 January (398) (538) (143) (68) - -<br />
Foreign exchange adjustments 17 309 - - - -<br />
Share of profi t for the year 36 77 - - - -<br />
Disposal on disposal of associates - (196) - - - -<br />
Dividends received (51) (59) - - - -<br />
Impairment charge - - - (75) - -<br />
Value adjustments carried directly in equity<br />
of associates (83) - - - - -<br />
Transfers to assets classifi ed as held for sale - 9 - - - -<br />
value adjustments at 31 December (479) (398) (143) (143) 0 0<br />
Carrying amount at 31 December 3,226 2,919 418 374 0 0<br />
Investments in associates include rights with indefi nite useful<br />
lives. These rights have been tested for impairment. There was<br />
deemed to be no need to write down rights with indefi nite useful<br />
lives in <strong>2011</strong> and 2010.<br />
Other equity investments comprise investments in unlisted securities<br />
classifi ed as assets available for sale. The investments<br />
are measured at the lower of cost and recoverable amount, as<br />
the fair value of the assets cannot be determined reliably.<br />
No impairment losses were charged in respect of other equity<br />
investments in <strong>2011</strong>. In 2010, <strong>DONG</strong> <strong>Energy</strong> recognised a DKK<br />
75 million impairment loss on the Group’s participation in development<br />
project companies.<br />
<strong>DONG</strong> ENERGY <strong>DONG</strong> ENERGY GROUP <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2011</strong> – COnsOliDatED finanCial statEmEnts<br />
95 91<br />
notes