UPM Annual Report 2016

154-155 / 176

ACCOUNTS
UPM Annual Report 2016 UPM Annual Report 2016 154 155
In brief Strategy Businesses Stakeholders Governance Accounts
CONTENTS
10. Intangible assets
EURm
INTANGIBLE
RIGHTS
OTHER
INTANGIBLE
ASSETS
ADVANCE
PAYMENTS TOTAL
2016
Accumulated costs 13 282 5 300
Accumulated amortisation and impairments –8 –257 – –265
Carrying value, at 31 December 5 25 5 35
Carrying value, at 1 January 5 178 4 187
Additions 6 4 3 13
Disposals –3 –141 – –144
Amortisation –3 –17 – –19
Impairment – –2 – –2
Reclassifications – 2 –2 –
Carrying value, at 31 December 5 25 5 35
2015
Accumulated costs 19 523 4 546
Accumulated amortisation and impairments –14 –345 – –359
Carrying value, at 31 December 5 178 4 187
Carrying value, at 1 January 5 198 3 206
Additions 7 4 3 14
Disposals –5 –1 –1 –7
Amortisation –2 –24 – –26
Reclassifications – 1 –1 –
Carrying value, at 31 December 5 178 4 187
9. Income taxes
EURm 2016 2015
Tax expense for the period 82 61
Tax expense for the previous periods –1 –
Total 81 61
7. Financial income and expenses
EURm 2016 2015
Income on non-current assets
Dividend income from group companies 80 182
Dividend income from other companies 1 –
Interest income from group companies 3 6
84 188
Other interest and financial income
Other interest income from group companies 19 3
Other financial income from group companies 35 29
Other financial income from other companies 13 –
68 32
Value adjustments –6 105
Interest and other financial expenses
Interest expenses to group companies –22 –34
Interest expenses to other companies –29 –26
Other financial expenses to other companies –90 –97
–141 –157
Total 6 168
8. Closing entries
EURm 2016 2015
Change in accumulated depreciation
difference 11 44
Group contributions received –1 –4
Group contributions granted 32 6
Losses from mergers 1 –
Total 42 46
EURm 2016 2015
Deferred tax assets
Provisions 34 12
Share-based payments 3 2
Other temporary differences – 1
Total 37 15
Deferred tax liabilities
Accumulated depreciation difference –91 –122
Revaluations of the land areas –73 –117
Total –164 –239
1) The parent company has not recognised deferred tax assets and liabilities in
the balance sheet. Deferred tax assets and liabilities were calculated based on
temporary differences between the carrying and taxable values of assets and
liabilities.
Deferred tax assets and liabilities 1)
11. Tangible assets
EURm
LAND AND
WATER
AREAS BUILDINGS
MACHINERY
AND
EQUIPMENT
OTHER
TANGIBLE
ASSETS
ADVANCE
PAYMENTS
AND CON­
STRUCTION
IN
PROGRESS TOTAL
2016
Accumulated costs 449 604 2,026 138 36 3,254
Accumulated depreciation and impairments – –345 –1,396 –112 – –1,852
Revaluations 364 – – – – 364
Carrying value, at 31 December 813 259 630 27 36 1,766
Carrying value, at 1 January 891 443 868 37 23 2,262
Additions 8 25 117 2 61 213
Disposals –29 –186 –270 –8 –7 –499
Depreciations – –27 –120 –6 – –152
Impairment – – 1 – – 1
Reclassifications – 3 35 2 –41 –
Changes in revaluations –57 – – – – –57
Carrying value, at 31 December 813 259 630 27 36 1,766
2015
Accumulated costs 470 1,242 5,027 198 23 6,960
Accumulated depreciation and impairments – –799 –4,159 –161 − –5,119
Revaluations 421 – – – – 421
Carrying value, at 31 December 891 443 868 37 23 2,262
Carrying value, at 1 January 934 441 720 38 209 2,342
Additions 8 12 64 3 78 165
Disposals –15 – – − − –15
Depreciations − –33 –155 –6 − –194
Reclassifications – 23 239 2 –264 –
Changes in revaluations –36 – – – – –36
Carrying value, at 31 December 891 443 868 37 23 2,262
12. Other non-current assets
EURm
HOLDINGS
IN GROUP
COMPANIES
HOLDINGS IN
PARTICIPATING
INTEREST
COMPANIES
OTHER
SHARES AND
HOLDINGS
RECEIVABLES
FROM
GROUP
COMPANIES
RECEIVABLES
FROM
PARTICIPATING
INTEREST
COMPANIES
OTHER
NON-
CURRENT
RECEIVABLES TOTAL
2016
Accumulated costs 5,780 5 4 255 5 7 6,056
Accumulated value adjustments –1,414 – – – – – –1,414
Carrying value, at 31 December 4,365 5 4 255 5 7 4,642
Carrying value, at 1 January 3,984 93 614 723 6 7 5,427
Additions 829 1 – 3 – – 832
Disposals –442 –88 –446 –470 –1 – –1,448
Changes in revaluations – – –164 – – – –164
Value adjustments 1) –5 – –1 – – – –6
Carrying value, at 31 December 4,365 5 4 255 5 7 4,642
2015
Accumulated costs 5,393 93 450 723 6 7 6,672
Accumulated value adjustments –1,409 – – – – − –1,409
Revaluations – – 164 – – – 164
Carrying value, at 31 December 3,984 93 614 723 6 7 5,427
Carrying value, at 1 January 4,648 99 582 666 6 30 6,031
Additions 37 – 32 69 – – 138
Disposals –806 –6 – –12 – −21 –845
Reclassifications – – – – – –2 –2
Value adjustments 105 – – – – – 105
Carrying value, at 31 December 3,984 93 614 723 6 7 5,427
1) Value adjustments are recognised under financial items.