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NOTE 28
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LIQUIDITY RISK
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Liquidity risk - operations
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Liquidity risk concerning operations relates primarily to the risk that Elopak, Telecomputing, Mestergruppen and Swix will not be able to service their financial obligations as they fall due. This risk is managed by maintaining adequate cash reserves and overdraft opportunities in banking and credit facilities, as well as continuously monitoring future and actual cash flows.
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The following tables provide an overview of the Group's contractual maturities of financial liabilities. The tables are compiled based on the earliest date the Group may be required to pay.
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31.12.12
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|||||
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NOK 1 000
|
Less than 1 year
|
1-3 years
|
3-5 years
|
Total
|
|
|
Finance institutions
|
362 440
|
2 840 370
|
2 442 733
|
5 645 543
|
|
|
Accounts payable
|
755 698
|
755 698
|
|||
|
Related parties
|
11 498
|
32 731
|
44 229
|
||
|
Other non-current liabilities
|
164 550
|
141 530
|
306 080
|
||
|
Other current liabilities
|
1 106 157
|
1 106 157
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Total*
|
2 224 295
|
3 016 418
|
2 616 994
|
7 857 707
|
|
|
31.12.11
|
|||||
|
NOK 1 000
|
Less than 1 year
|
1-3 years
|
3-5 years
|
Total
|
|
|
Finance institutions
|
890 131
|
2 161 922
|
3 617 765
|
6 669 818
|
|
|
Accounts payable
|
826 359
|
|
826 359
|
||
|
Other non-current liabilities
|
129 315
|
|
129 315
|
||
|
Other current liabilities
|
1 315 564
|
|
|
1 315 564
|
|
|
Total*
|
3 032 054
|
2 291 237
|
3 617 765
|
8 941 056
|
|
|
The table below shows the anticipated receipts and payments on derivatives:
|
|||||
|
31.12.12
|
|||||
|
NOK 1 000
|
Less than
1 year
|
1-3 years
|
Over 3 years
|
Total
|
|
|
Net settlement
|
|
||||
|
Interest rate swaps
|
51 446
|
51 446
|
|||
|
Currency futures
|
10 252
|
10 252
|
|||
|
Commodity derivatives
|
- 600
|
- 600
|
|||
|
Total
|
61 098
|
|
|
61 098
|
|
|
31.12.11
|
|||||
|
Beløp i NOK 1 000
|
Less than
1 year
|
1-3 years
|
Over 3 years
|
Total
|
|
|
Net settlement
|
|
||||
|
Interest rate swaps
|
- 16 524
|
- 28 831
|
- 5 458
|
- 50 813
|
|
|
Currency futures
|
22 841
|
|
|
22 841
|
|
|
Commodity derivatives
|
22 256
|
|
|
22 256
|
|
|
Total
|
28 573
|
- 28 831
|
- 5 458
|
- 5 716
|
|
|
Credit facilities
|
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|
The table below shows a summary of used and unused credit facilities at 31 December:
|
|||||
|
2012
|
2011
|
||||
|
Used
|
Unused
|
Used
|
Unused
|
||
|
Overdraft:
|
|||||
|
Secured
|
47 078
|
314 940
|
318
|
109 682
|
|
|
Unsecured
|
54 982
|
440 696
|
|
100 000
|
|
|
Credit facilities:
|
|||||
|
Secured
|
1 604 440
|
1 567 090
|
575 922
|
383 132
|
|
|
Unsecured
|
3 300 000
|
1 700 000
|
|||
|
Factoring:
|
|||||
|
Secured
|
4 311
|
15 561
|
63 638
|
37 263
|
|
|
Unsecured
|
391 113
|
416 599
|
366 727
|
376 484
|
|
|
Total secured
|
1 655 829
|
1 897 591
|
639 878
|
530 077
|
|
|
Total unsecured
|
446 095
|
857 295
|
3 666 727
|
2 176 484
|
|
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