66 FINANCIAL INFO Consolidated statement of financial position The statement of financial position presents the Group’s total assets and shows how they have been financed, broken down into equity and liabilities. All internal matters between companies in the Group have been eliminated. According to the system of classification applied to the statement of financial position, current assets and liabilities belong to a normal operating cycle, are cash and cash equivalents or have a useful life/ repayment time of less than one year. Other assets and liabilities are classified as non-current. IFRS financial statements are oriented towards the statement of financial position and only items that satisfy the criteria for definition as assets and liabilities may be recognised in the statement of financial position. Equity is a residual. The various standards determine how the items are to be treated. The valuation of the balance sheet items is therefore a combination of fair value (Derivative financial instruments), amortised cost (trade receivables), cost (inventories), cost minus depreciation (property, plant and equipment), and recoverable amount (certain written down assets). The statement of financial position items are explained in the notes to the financial statements. (NOK thousand) 31.12.2014 31.12.2013 ASSETS Non-current assets Deferred tax assets 134 957 97 732 Other intangible assets 281 508 231 868 Property, plant and equipment 3 754 514 2 967 311 Investments in associated companies and joint ventures 1 491 021 1 163 318 Other investments 8 248 8 248 Other interest-bearing receivables 202 855 184 647 Total non-current assets 5 873 104 4 653 125 Current assets Inventories 1 957 520 1 762 005 Trade and other receivables 4 047 525 3 263 759 Cash and cash equivalents 1 421 421 1 120 161 Total current assets 7 426 466 6 145 925 Total assets 13 299 570 10 799 050 EQUITY AND LIABILITIES Equity Share capital 102 600 102 600 Other equity 6 484 811 5 301 977 Non-controlling interests 151 356 110 090 Total equity 6 738 767 5 514 667 Non-current liabilities Pension liabilities 193 164 184 888 Deferred tax liabilities 32 194 36 489 Provisions 42 006 30 006 Interest-bearing debt 2 379 037 1 368 482 Interest-free debt 23 934 23 325 Total non-current liabilities 2 670 335 1 643 190 Current liabilities Interest-bearing debt 946 843 1 258 748 Trade and other payables 1 514 783 1 235 491 Current tax payable 159 397 127 202 Other current liabilities 1 269 445 1 019 752 Total current liabilities 3 890 468 3 641 193 Total liabilities 6 560 803 5 284 383 Total equity and liabilities 13 299 570 10 799 050 Sandefjord, Norway, 10 February 2015 Board of Directors Jotun A/S Odd Gleditsch d.y. Chairman Terje Andersen Einar Abrahamsen Morten Fon President & CEO Birger Amundsen Richard Arnesen Nicolai A. Eger Ingrid Luberth Karl Otto Tveter
Jotun Group Report 2014
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