| NOK million | Notes | 2011 | 2010 |
| Assets | |||
| Deferred income tax asset | 6 | 15 | 27 |
| Total intangible assets | 15 | 27 | |
| Total property, plant and equipment | 7 | 178 | 140 |
| Shares in subsidiaries, associates and joint ventures | 8 | 15 182 | 16 365 |
| Other long-term receivables | 3, 9 | 3 120 | 3 373 |
| Total financial assets | 18 302 | 19 738 | |
| Total non-current assets | 18 495 | 19 905 | |
| Trade and other receivables | 10 | 1 239 | 3 731 |
| Derivatives | 16 | 6 | |
| Bank | 16 | 665 | |
| Total current assets | 1 920 | 3 737 | |
| Total assets | 20 415 | 23 642 | |
| Equity and liabilities | |||
| Paid-in equity | 4 348 | 4 350 | |
| Retained earnings | 3 082 | 3 968 | |
| Total equity | 17, 18 | 7 430 | 8 318 |
| Provisions | 3 | 67 | 55 |
| Long-term interest-bearing liabilities | 13, 14 | 9 932 | 10 836 |
| Total long-term liabilities and provisions | 9 999 | 10 891 | |
| Current interest-bearing liabilities | 11 | 750 | 2 719 |
| Trade payables | 28 | 23 | |
| Proposed divided | 17 | 487 | 1 461 |
| Income tax payable | 6 | 26 | |
| Other current liabilities | 12 | 1 695 | 230 |
| Total current liabilities | 2 986 | 4 433 | |
| Total equity and liabilities | 20 415 | 23 642 | |
Board of Directors of Hafslund ASA
Oslo, 20 March 2012
Birger Magnus
Chairman of the Board
Maria Moræus Hanssen
Susanne Jonsson
Kristin Bjella
Ole Ertvaag
Hans Kristian Rød
Odd Håkon Hoelsæter
Tyra Marie Hetland
Per Orfjell
Per Luneborg
Finn Bjørn Ruyter
President and CEO