Income Statement Group
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NOTE 12
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CASH AND CASH EQUIVALENTS
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Amounts in NOK million
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2012
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2011
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Bank deposits in Group account system
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228
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295
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Bank deposits outside the Group account
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16
|
5
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Total bank deposits
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244
|
300
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Split by currency
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NOK
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178
|
170
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SEK
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21
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94
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EUR
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44
|
36
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Total bank deposits
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244
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300
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The Group employs the Group account system in DNB Bank ASA. A group account system entails joint and several liability for participating companies. Infratek ASA’s accounts constitute the only accounts connected to the banks whereas deposits and withdrawals concerning the subsidiaries’ accounts consist of internal accounts with Infratek ASA. Participating companies in the Group account system have a joint guarantor liability for consolidated withdrawals in the Group account system.
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The Group has an overdraft limit with DNB Bank of NOK 100 million. The facility may be terminated at one month’s notice by either party, and was unused as of 31 December 2012.
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As of 31 December 2012 the Group had the following restricted bank deposits.
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Restricted cash and cash equivalents
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Amounts in NOK million
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2012
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2011
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Employees tax deduction
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5
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14
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Down payment deposits
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-
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-
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Other restricted cash and cash equivalents 1)
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17
|
16
|
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Total restricted cash and cash equivalents
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22
|
30
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1) Explanation to the other restricted cash and cash equivalents is given in note 8 to Infratek ASA
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