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NOTE 33
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DISCONTINUED OPERATIONS
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In January 2016, Ferd AS sold the business TeleComputing to Investeringsfondet IK Investment Partners. The sale was finalised in March 2016. The assets and liabilities being part of the transaction are presented as held for sale in the consolidated financial statements as at 31 December 2015. The income statement items from the sold business are presented net on a separate line in the consolidated financial statements for 2015 and 2014. Cash flows are correspondingly restated for 2015.
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The income statement for TeleComputing classified as held for sale as at 31 December 2015
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NOK 1 000
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2015
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2014
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Sales income
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1 462 379
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1 274 893
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Operating income
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1 462 379
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1 274 893
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Cost of goods sold
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391 046
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304 878
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Salary expenses
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633 250
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566 452
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Depreciation and write-downs
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105 427
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104 930
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Other operating expenses
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185 422
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180 031
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Operating expenses
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1 315 146
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1 156 291
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Operating profit
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147 233
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118 602
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Income on investments accounted for by the equity method
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- 20
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Finance income
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53 861
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46 243
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Finance expense
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- 58 809
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- 54 803
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Net finance items
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- 4 968
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- 8 560
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Profit before tax
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142 265
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110 042
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Tax expense
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41 123
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26 436
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Profit after tax from discontinued operations
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101 142
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83 606
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Assets and liability for TeleComputing classified as held for sale as at 31 December 2015
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Intangible assets
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771 716
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Deferred tax assets
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5 173
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Tangible assets
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174 850
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Other financial non-current assets
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73
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Total non-current assets
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951 811
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Short-term receivables
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211 733
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Bank deposits
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- 68 291
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Total current receivables
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143 442
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Total assets classified as held for sale
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1 095 253
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Non-current liabilities
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Pension obligations
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333
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Deferred tax
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56 376
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Total non-current liabilities
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56 710
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Current liabilities
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Tax payable
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33 582
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Other current liabilities
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381 324
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Total current liabilities
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414 905
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Total liabilities classified as held for sale
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471 615
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Cash flows from business held for sale
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2015
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2014
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Net cash flows from operations
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248 810
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204 833
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Net cash flows used in investment activities
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-93 189
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-105 701
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Net cash flows used in finance activities
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-109 403
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-124 970
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Net cash flows from/-used in business held for sale
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46 218
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-25 838
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