UPM Annual Report 2016

Accounts

In brief

Strategy

Businesses

Stakeholders

Governance

9.

Income taxes

7.

Financial income and expenses

11. Tangible assets

ADVANCE PAYMENTS AND CON­ STRUCTION IN PROGRESS

EURm

2016

2015

EURm

2016

2015

Income on non-current assets Dividend income from group companies Dividend income from other companies Interest income from group companies Other interest and financial income Other interest income from group companies Other financial income from group companies Other financial income from other companies

Tax expense for the period

82 –1 81

61

LAND AND WATER

MACHINERY AND EQUIPMENT

OTHER TANGIBLE ASSETS

Tax expense for the previous periods

–

80

182

Total

61

1 3

– 6

EURm

AREAS BUILDINGS

TOTAL

84

188

2016 Accumulated costs

449

604

2,026 –1,396

138 –112

36

3,254 –1,852

Deferred tax assets and liabilities 1)

19 35 13 68

3

Accumulated depreciation and impairments

–

–345

– –

29

Revaluations

364 813 891

–

–

–

364

EURm

2016

2015

–

Carrying value, at 31 December Carrying value, at 1 January

259 443

630 868 117

27 37

36 23 61 –7

1,766 2,262

32

Deferred tax assets Provisions Share-based payments

34

12

Additions Disposals

8

25

2

213

Value adjustments

–6

105

3 –

2 1

–29

–186

–270 –120

–8 –6

–499 –152

Other temporary differences

Depreciations

– – –

–27

– –

Interest and other financial expenses Interest expenses to group companies Interest expenses to other companies Other financial expenses to other companies

Total

37

15

Impairment

– 3 –

1

– 2 –

1 –

–22 –29 –90

–34 –26 –97

Reclassifications

35

–41

Deferred tax liabilities Accumulated depreciation difference

Changes in revaluations

–57 813

–

–

–57

–91 –73

–122 –117 –239

Carrying value, at 31 December

259

630

27

36

1,766

–141

–157

Revaluations of the land areas

Total

6

168

Total

–164

2015 Accumulated costs

470

1,242 –799

5,027 –4,159

198

23

6,960 –5,119

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.

Accumulated depreciation and impairments

–

–161

− –

Revaluations

421 891 934

–

–

–

421

Carrying value, at 31 December Carrying value, at 1 January

443 441

868 720

37 38

23

2,262 2,342

8.

Closing entries

209

Additions Disposals

8

12

64

3 −

78

165 –15

–15

–

–

− −

EURm

2016

2015

Depreciations Reclassifications

− –

–33

–155

–6

–194

Change in accumulated depreciation difference

23

239

2 –

–264

–

11 –1 32

44 –4

Changes in revaluations

–36 891

–

–

–

–36

Group contributions received Group contributions granted

Carrying value, at 31 December

443

868

37

23

2,262

6 –

Losses from mergers

1

Total

42

46

12. Other non-current assets

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

HOLDINGS IN PARTICIPATING INTEREST COMPANIES

RECEIVABLES FROM GROUP COMPANIES

OTHER NON- CURRENT RECEIVABLES

10. Intangible assets

HOLDINGS IN GROUP COMPANIES

OTHER SHARES AND HOLDINGS

EURm

TOTAL

OTHER INTANGIBLE ASSETS

2016 Accumulated costs

INTANGIBLE RIGHTS

ADVANCE PAYMENTS

5,780 –1,414 4,365 3,984

5 – 5

4 – 4

255

5 – 5 6 – – – 5 6 – – 6 6 – – – – 6

7 – 7 7 – – – – 7

6,056 –1,414 4,642 5,427

EURm

TOTAL

Accumulated value adjustments Carrying value, at 31 December Carrying value, at 1 January

–

2016 Accumulated costs

255 723

13 –8

282

5 – 5 4 3 – – –

300

93

614

Accumulated amortisation and impairments

–257

–265

Additions Disposals

829

1

–

3

832

Carrying value, at 31 December Carrying value, at 1 January

5 5 6

25

35

–442

–88

–446 –164

–470

–1

–1,448

178

187

–

– – 5

– –

–164

Changes in revaluations Value adjustments 1)

Additions Disposals

4

13

–5

–1

–6

–3 –3

–141

–144

Carrying value, at 31 December

4,365

4

255

4,642

Amortisation Impairment

–17

–19

– – 5

–2

–2

2015 Accumulated costs

Reclassifications

2

–2

–

5,393 –1,409

93

450

723

7 − – 7

6,672 –1,409

Carrying value, at 31 December

25

5

35

Accumulated value adjustments

– –

–

– –

Revaluations

–

164 614 582

164

2015 Accumulated costs

Carrying value, at 31 December Carrying value, at 1 January

3,984 4,648

93 99

723 666

5,427 6,031

19

523

4 – 4 3 3

546

30

Accumulated amortisation and impairments

–14

–345

–359

Additions Disposals

37

–

32

69

–

138

Carrying value, at 31 December Carrying value, at 1 January

5 5 7

178 198

187 206

–806

–6

– – –

–12

−21

–845

Reclassifications Value adjustments

–

– –

– –

–2

–2

Additions Disposals

4

14 –7

105

– 7

105

–5 –2

–1

–1

Carrying value, at 31 December

3,984

93

614

723

5,427

Amortisation

–24

–

–26

Reclassifications

– 5

1

–1

–

1) Value adjustments are recognised under financial items.

Carrying value, at 31 December

178

4

187

CONTENTS

ACCOUNTS

154

155

UPM Annual Report 2016

UPM Annual Report 2016