{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"NRC": "http://nrcgroup.com/2022-12-31",
"ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://nrcgroup.com/2022-12-31/nrcgroupasa-2022-12-31.xsd"
]
},
"facts": {
"f15988": {
"value": "7030000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15991": {
"value": "5957000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15997": {
"value": "4346000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16000": {
"value": "3256000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16005": {
"value": "1646000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16008": {
"value": "1649000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16014": {
"value": "574000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16017": {
"value": "260000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16024": {
"value": "703000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:MiscellaneousOtherOperatingExpenseAndAdministrativeExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16027": {
"value": "717000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:MiscellaneousOtherOperatingExpenseAndAdministrativeExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16033": {
"value": "-2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherOperatingIncomeExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16036": {
"value": "-34000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherOperatingIncomeExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16041": {
"value": "-240000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16044": {
"value": "42000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16048": {
"value": "6000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16051": {
"value": "3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16055": {
"value": "64000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16058": {
"value": "69000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16064": {
"value": "-58000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16067": {
"value": "-66000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16075": {
"value": "-15000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16078": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16084": {
"value": "-313000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16087": {
"value": "-24000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16094": {
"value": "51000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16097": {
"value": "3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16107": {
"value": "-364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16110": {
"value": "-27000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16118": {
"value": "-363000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16121": {
"value": "-26000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16126": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16129": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16135": {
"value": "-364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16138": {
"value": "-27000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16147": {
"value": "-4.98",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f16150": {
"value": "-0.36",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f16157": {
"value": "-4.98",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f16160": {
"value": "-0.36",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f16237": {
"value": "-364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16240": {
"value": "-27000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16251": {
"value": "36000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16254": {
"value": "-97000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16259": {
"value": "15000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16262": {
"value": "17000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16273": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16276": {
"value": "-4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16281": {
"value": "56000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16284": {
"value": "-84000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16292": {
"value": "-308000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16295": {
"value": "-112000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16304": {
"value": "-307000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16307": {
"value": "-111000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16312": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16315": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16390": {
"value": "98000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16393": {
"value": "137000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16398": {
"value": "2364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16401": {
"value": "2666000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16408": {
"value": "32000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16411": {
"value": "63000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16417": {
"value": "2493000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16420": {
"value": "2867000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16426": {
"value": "184000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16429": {
"value": "184000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16435": {
"value": "564000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16438": {
"value": "514000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16444": {
"value": "23000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16447": {
"value": "9000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16453": {
"value": "3265000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16456": {
"value": "3574000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16463": {
"value": "29000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16466": {
"value": "28000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16473": {
"value": "765000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16476": {
"value": "929000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16482": {
"value": "475000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentContractAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16485": {
"value": "315000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentContractAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16492": {
"value": "185000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16495": {
"value": "115000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16501": {
"value": "1425000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16504": {
"value": "1359000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16510": {
"value": "472000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16513": {
"value": "626000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16519": {
"value": "1927000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16522": {
"value": "2013000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16531": {
"value": "5191000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16534": {
"value": "5587000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16607": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16610": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16616": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16619": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16623": {
"value": "2323000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16626": {
"value": "2325000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16633": {
"value": "48000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16636": {
"value": "12000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16642": {
"value": "12000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16645": {
"value": "-3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16649": {
"value": "-145000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16652": {
"value": "213000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16659": {
"value": "2310000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16662": {
"value": "2619000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16667": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16670": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16675": {
"value": "2312000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16678": {
"value": "2622000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16685": {
"value": "11000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16688": {
"value": "16000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16694": {
"value": "1095000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:LongTermBorrowingsAndNonCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16697": {
"value": "1199000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:LongTermBorrowingsAndNonCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16704": {
"value": "1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16707": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16713": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16716": {
"value": "8000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16722": {
"value": "1106000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16725": {
"value": "1225000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16731": {
"value": "328000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:ShortTermBorrowingsAndCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16734": {
"value": "319000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:ShortTermBorrowingsAndCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16741": {
"value": "328000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:ShortTermBorrowingsAndCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16744": {
"value": "319000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:ShortTermBorrowingsAndCurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16750": {
"value": "504000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16753": {
"value": "359000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16759": {
"value": "305000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentContractLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16762": {
"value": "424000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentContractLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16768": {
"value": "143000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16771": {
"value": "154000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16777": {
"value": "1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16780": {
"value": "25000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16786": {
"value": "492000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16789": {
"value": "460000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16795": {
"value": "1773000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16798": {
"value": "1741000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16803": {
"value": "5191000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16806": {
"value": "5587000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16898": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f16901": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f16904": {
"value": "2322000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f16907": {
"value": "-20000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f16910": {
"value": "109000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f16913": {
"value": "243000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f16916": {
"value": "2727000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16919": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f16922": {
"value": "2731000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16928": {
"value": "-26000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f16931": {
"value": "-26000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16934": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f16937": {
"value": "-27000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16942": {
"value": "17000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f16945": {
"value": "-97000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f16948": {
"value": "-4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f16951": {
"value": "-84000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16954": {
"value": "-84000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16960": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f16963": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16966": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16971": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f16974": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16977": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16983": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f16986": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f16989": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f16992": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f16997": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17000": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17003": {
"value": "3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17006": {
"value": "17000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17009": {
"value": "-97000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17012": {
"value": "-30000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17015": {
"value": "-108000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17018": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17021": {
"value": "-109000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17026": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17029": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17032": {
"value": "2325000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17035": {
"value": "-3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17038": {
"value": "12000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17041": {
"value": "213000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17044": {
"value": "2619000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17047": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17050": {
"value": "2622000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17055": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17058": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17061": {
"value": "2325000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17064": {
"value": "-3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17067": {
"value": "12000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17070": {
"value": "213000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17073": {
"value": "2619000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17076": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17079": {
"value": "2622000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17085": {
"value": "-363000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17088": {
"value": "-363000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17091": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17094": {
"value": "-364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17099": {
"value": "15000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17102": {
"value": "36000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17105": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17108": {
"value": "56000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17111": {
"value": "56000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17117": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17120": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17123": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:IncreaseDecreaseThroughEmployeeShareProgram",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17128": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17131": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17134": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17140": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17143": {
"value": "7000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17146": {
"value": "7000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17149": {
"value": "7000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17154": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17157": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17160": {
"value": "-2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17163": {
"value": "15000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17166": {
"value": "36000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17169": {
"value": "-358000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17172": {
"value": "-309000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17175": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17178": {
"value": "-310000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ChangesInEquity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17183": {
"value": "73000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17186": {
"value": "-0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f17189": {
"value": "2323000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f17192": {
"value": "12000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:NOK"
}
},
"f17195": {
"value": "48000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f17198": {
"value": "-145000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f17201": {
"value": "2310000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f17204": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f17207": {
"value": "2312000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17286": {
"value": "-364000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17289": {
"value": "-27000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17295": {
"value": "51000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17298": {
"value": "3000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17304": {
"value": "13000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17307": {
"value": "30000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17313": {
"value": "-57000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17316": {
"value": "-67000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17322": {
"value": "574000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17325": {
"value": "260000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17333": {
"value": "-15000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17336": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17343": {
"value": "32000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17346": {
"value": "75000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17352": {
"value": "163000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17355": {
"value": "-6000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17361": {
"value": "-241000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:AdjustmentsForDecreaseIncreaseInContractAssetsAndAdjustmentsForIncreaseDecreaseInContractLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17364": {
"value": "72000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:AdjustmentsForDecreaseIncreaseInContractAssetsAndAdjustmentsForIncreaseDecreaseInContractLiabilities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17370": {
"value": "-1000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17373": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17378": {
"value": "146000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17381": {
"value": "-23000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17387": {
"value": "-118000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:AdjustmentsForUnrealisedForeignExchangeLossesGainsAndOtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17390": {
"value": "113000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:AdjustmentsForUnrealisedForeignExchangeLossesGainsAndOtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17396": {
"value": "235000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17399": {
"value": "358000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17407": {
"value": "47000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17410": {
"value": "25000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17419": {
"value": "24000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17422": {
"value": "47000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17429": {
"value": "14000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17432": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17440": {
"value": "55000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17443": {
"value": "90000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17450": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17453": {
"value": "16000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17459": {
"value": "-29000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17462": {
"value": "34000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17469": {
"value": "147000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17472": {
"value": "147000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17478": {
"value": "171000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17481": {
"value": "168000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17487": {
"value": "9000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:InterestReceivedClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17490": {
"value": "16000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:InterestReceivedClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17496": {
"value": "55000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17499": {
"value": "78000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17506": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17509": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17515": {
"value": "7000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17518": {
"value": "4000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17524": {
"value": "-366000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17527": {
"value": "-377000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17532": {
"value": "-161000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17535": {
"value": "14000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17540": {
"value": "626000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17543": {
"value": "610000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17550": {
"value": "6000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17553": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17559": {
"value": "472000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17562": {
"value": "626000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17569": {
"value": "472000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:UnrestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17572": {
"value": "626000000",
"decimals": -6,
"dimensions": {
"concept": "NRC:UnrestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17576": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f17579": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"pp-value-1-1": {
"value": "Note 1: Corporate information, basis of preparation and significant judgements, estimates and assumptions1.1 Corporate information NRC Group ASA (the Company) including its subsidiaries (the Group) is a specialised rail infrastructure company in the Nordic region.The Group is a supplier of all rail, harbour and road related infrastructure services, including groundwork, specialised track work, safety, electro, telecom, signalling systems, maintenance and environmental services.NRC Group ASA is a public limited liability company registered and domiciled in Norway. The office address is Lysaker Torg 25, 1366 Lysaker, Norway. NRC Group is listed on Oslo Stock Exchange (ticker NRC). The Company has subsidiaries in Norway, Sweden and Finland.The consolidated financial statements for NRC Group ASA were approved by the Board of Directors on 29 March 2023.1.2 Significant accounting principlesAccounting policies applied by the Group in the preparation of the consolidated financial statements are largely incorporated into the individual notes. General accounting principles are described below. The principles have been applied identically to the periods presented, unless otherwise stated.1.2.1 Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as approved by the EU.These consolidated financial statements have been prepared on the basis of the historical cost principle, except for certain financial instruments and contingent consideration that have been measured at fair value.The Group uses various alternative performance measures (APM) throughout the consolidated financial statements. The APMs are defined on page 202.1.2.2 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of 31 December 2022. Subsidiaries are companies where the Group has a controlling interest. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. A controlling interest is normally achieved when the Group owns, directly or indirectly, more than 50% of the voting shares in the target company. Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when such control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resultant gain or loss is recognised in profit or loss.All internal transactions, unsettled balances and unrealised gains between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction establishes an impairment for the transferred asset.1.2.3 Summary of significant accounting policiesCurrent versus non-current classification The Group presents assets and liabilities in the statement of financial position based on current/ non-current classification.An asset is current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle, held primarily for the purpose of trading or expected to be realised within twelve months after the reporting period. Cash or cash equivalent are current unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.A liability is current when it is expected to be settled in the normal operating cycle, it is held primarily for the purpose of trading or it is due to be settled within twelve months after the reporting period. The Group classifies all other liabilities as non-current, unless there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.Deferred tax assets and liabilities are classified as non-current assets and liabilities.Foreign currency translation Functional currency and presentation currencyThe accounts of the individual entities in the Group are measured in the currency that is used in the economic area where the Group entities operate (functional currency). The consolidated accounts are presented in Norwegian kroner (NOK), which is both the functional and presentation currency of the parent company.Transactions and balance sheet itemsTransactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. Foreign currency gains and losses that arise from the payment of such transactions and the translation of monetary items (assets and liabilities) at year-end, at the rates in effect on the balance sheet date, are recognised in the income statement. Currency gains and losses are presented on a net basisas financial income or financial expenses. If the foreign currency position is designated as a hedge of a net investment in a foreign business, any gains or losses are recognised in other comprehensive income.Translation to presentation currency In consolidation of the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month. Balance sheet items are translated at the exchange rate in effect on the balance sheet date. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. Translation differences on net investments in foreign operations are recognised in other comprehensive income. When a net investment is disposed of, the related cumulative amount of translation differences is reclassified to profit or loss.Goodwill and fair value adjustments of assets and liabilities associated with the acquisition of a foreign entity are treated as assets and liabilities in the acquired entity and translated at the rate in effect on the balance sheet date.Statement of Cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interests paid are presented as part of financing activities. 1.2.4 Changes in accounting policiesIn February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after 1 January 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The Group is currently revisiting their accounting policy information disclosures to ensure consistency with the amended requirements.There are not any other standards or interpretations that are not yet effective, that are expected to have a significant impact on the consolidated financial statements.1.3 Material accounting judgements, estimates and assumptions The preparation of financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosureof contingent liabilities. Estimates and assumptions are evaluated continuously based on historical experience and other factors, including expectations of future events that are regarded as probable under the current circumstances. Uncertainty about these estimates and assumptions could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.The most important areas where estimates and judgements are having an impact are listed below. Detailed information of these estimates and judgements are disclosed in therelevant notes.Significant estimates and judgements:Revenue from contracts with customers (Note 4)Impairment test of goodwill (Note 2 and 12)Purchase price allocation and accounting for contingent consideration in business combinations (Note 2)Recognition of deferred tax assets (Note 10)Covid-19 and the impacts of the global economyThe direct impact of global events such as the Covid-19 outbreaks, the war in Ukraine, the energy crisis in Europe and high inflation has been limited for the Group. The volatile global market may however impact on risks related to material prices, supply chain and government spending on infrastructure. NRC Group is actively managing the development and uncertainty.Climate riskNRC Group\u2019s activities mainly consist of projects that run over a limited period. The organisation is flexible to adapt to changes and each new project represents a new start. A large part of the Group\u2019s activities is to build environmentally friendly infrastructure that is aligned within the EU Taxonomy, as described in a separate section in the Group\u2019s Sustainability Report for 2022. This reduces the risk of significant negative changes in activities and markets due to climate change. There are no legal changes or expected changes in our markets that will have a significant impact on the Group\u2019s activities.NRC Group has limited operating assets and long-term leases that can be affected by environmental changes. The Group has a large car and machine park - owned and leased - that is gradually meeting new environmental requirements. Expected useful life and planned replacement rate for these assets are considered adaptable to the expected changes. The Group is already in the process of increasing the proportion of electrified machines and has also invested significantly in heavier vehicles that can run on biogas. Our largest tamping machines are rail-based and associated with environmentally friendly projects and are not expected to be adversely affected by climate change other than normal maintenance and adaptations. The Group has no significant immobile machines or facilities (stranded assets) that could be affected by climate change. There are no specific climate risks beyond normal project risks associated with the businessthat significantly can affect the impairment calculations. Significant changes because of climate risk have consequently not been necessary to include in the calculations.Note 2: Business combinationsAccounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the assets that are contributed as consideration for the acquisition, equity instruments that are issued and liabilities that are assumed. Identifiable acquired assets, liabilities and contingent liabilities that are assumed to be inherent in a business combination are assessed at their fair value. For each business combination, the Group elects whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Direct expenses associated with the acquisition are expensed when they incur and presented as Other income and expenses.Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the acquisition date. Subsequent changes that are a result of additional information the Group obtained after that date about facts and circumstances that existed at the acquisition date are measurement period adjustments that will adjust the purchase price allocation until this is final but no later than 12 months after the acquisition day. Other changes resulting from events after the acquisition day, such as meeting earning targets, will be accounted for as follows:Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measuredat fair value with the changes in fair value recognised in the statement of profit or loss in accordance with IFRS 9 and presented as Other income and expenses.Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination.Significant judgement and estimation uncertaintyEstimating the fair value of acquired assets, liabilities and contingent liabilities in a business combination requires significant management judgement. These calculations require the use of all facts and information available and how this will impact on the computations and will be sensitive to estimates related to future cash flows and discount rate.Estimating contingent consideration in a business combination including subsequent changes in the fair value require significant management judgement and need determination of all facts and information available and how this will impact on the calculations. The key assumption is to consider the most likely outcome based on the current state of the target.Business combinations in 2022The Group had no business combinations in 2022. A net cash outflow of NOK 24 million in 2022 is related to prior year acquisitions. Business combinations in 2021The Group had no business combinations in 2021. A net cash outflow of NOK 47 million in 2021 was related to prior year acquisitions. Note 3: Segment reportingAccounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the executive management and the Board of Directors. The internal financial operating result reporting follows current IFRS standards as described in these notes to the Group accounts, except for Other income and expenses (M&A expenses). These income and expenses can vary significantly from period to period and are excluded in the internal financial reporting to improve the analysis of the underlying operations across periods and operating segments. The Group\u2019s financing (including finance costs and finance income) and income taxes are managed on a Group basis and are not allocated to operating segments. Transferpricing between operating segments is on an arm\u2019s length basis in a manner similar to transactions with third parties. The Group is a contractor connected to public transportation, including rail, harbour and road related infrastructure. For management purposes, the Group is organised in divisions and operating segments based on geographical areas that include Norway, Finland and Sweden. In each operating segment the Group can provide services and products such as rail construction, rail maintenance, civil construction, environmental services and sale of materials.Customers that aggregate 10% or more of the Group\u2019s total revenues are disclosed in the table below: Share of segment revenueCustomer Segment 2022 2021Trafikverket Sweden 71% 72%Finnish Transport and Infrastructure Agency Finland 61% 54%Bane Nor Norway 34% 30%* Before other income and expenses (M&A expenses)Others and eliminations include activities in the Company and other holding companies as well as elimination of inter-segment revenues and expenses. Norway Sweden Finland Others and Consolidated eliminations(Amounts in NOK million)2022 2021 2022 2021 2022 2021 2022 2021 2022 2021External 2,571 1,864 1,877 1,453 2,582 2,640 0 0 7,030 5,957Inter-segment -198 -5 203 15 0 0 -5 -10 0 0Total revenue 2,373 1,859 2,080 1,468 2,582 2,640 -5 -10 7,030 5,957EBITDA* 173 120 -7 -17 204 265 -34 -32 335 336Depreciation 93 93 42 50 48 52 1 1 185 196EBITA* 80 27 -49 -67 155 213 -35 -32 151 139Amortisation and impairment 0 11 355 3 34 49 0 1 389 64EBIT* 80 16 -404 -71 121 164 -36 -33 -238 75Other income and expenses 0 10 0 18 1 5 1 1 2 34Operating profit 80 6 -404 -89 120 159 -36 -35 -240 42Current assets 456 423 289 272 1,148 1,127 48 190 1,939 2,013Non-current assets 1,232 1,143 432 866 1,488 1,472 99 93 3,279 3,574Total assets 1,688 1,566 721 1,139 2,636 2,599 147 283 5,218 5,587Current liabilities 759 635 625 549 1,237 1,199 -848 -643 1,772 1,741Non-current liabilities 290 253 17 41 215 363 584 567 1,106 1,225Total liabilities 1,048 888 642 590 1,452 1,563 -263 -75 2,879 2,965Order backlog 2,013 2,214 3,160 2,008 2,622 3,579 7,795 7,801Assets and liabilities are shown gross per segment and eliminations are shown separately. The aggregated information on Others and eliminations consists of the following:Parent and holding Eliminations Others and eliminationscompanies(Amounts in NOK million)2022 2021 2022 2021 2022 2021Current assets 2,182 2,118 -2,134 -1,927 48 190Non-current assets 242 375 -144 -282 99 93Total assets 2,424 2,493 -2,277 -2,209 147 283Current liabilities 1,286 1,285 -2,134 -1,927 -848 -643Non-current liabilities 728 846 -144 -278 584 567Total liabilities 2,014 2,130 -2,277 -2,206 -263 -75Note 4:Revenues and projects in progressAccounting policyThe Group\u2019s revenues mainly consist of contracts with customers that vary from shorter projects of less than a month, to longer projects running over multiple years. All projects are accounted for as contracts with customers, applying IFRS 15 Revenue from contracts with customers. The Group accounts for a contract with a customer when the contract is approved, each party\u2019s rights are identified including the payment terms, the contract has commercial substance, and it is probable that the Group will collect the consideration. Revenue recognised over timeFor a major part of the contracts with customers, the criteria for recognising revenue over time have been met as the project either creates an asset that the customer controls as the asset is created or the asset created does not have an alternative use and the Group has an enforceable right to payment for performance completed to date.The transaction price is the contractual agreed price. Any variable consideration is estimated based on the sum of probability-weighted amounts or the single most likely outcome, depending on which method better predicts the amount of consideration, and is consistently applied throughout the contract.For a performance obligation that is satisfied over time, revenue is recognised over time by measuring the cost passed in relation to full satisfaction of the obligation. The Group applies the input method which is used consistently for similar performance obligations and under similar circumstances. Using the input method, revenue is recognised based on the entity\u2019s input in fulfilling the performance obligation (e.g. contract costs incurred, resources consumed, hours expended) in relation to the total expected input to fulfil the performance obligation. The value and pricing of the Group\u2019s services are founded on the different resources consumed, and consequently the input method best reflects the revenue recognition of the transfer of goods and services. Most contracts of the Group consist of one performance obligation. For contracts where performance obligations are not satisfied over time, revenue is recognised on delivery or upon completion of the services.The aggregated amount of project revenue incurred to date, less progress billings, is determined on a project-by-project basis. The contracts where this amount is positive are presented in the balance sheet as contract assets, whereas the contracts where the amount is negative (prepayments) are presented as contract liabilities. Contract assets are the Group\u2019s right to consideration in exchange for goods or services that the entity has transferred to a customer. Unconditional rights to considerations based on the agreement are invoiced and presented separately as a receivable. Contract assets and receivables are considered for impairment in accordance with IFRS 9. A contract liability is when the Group has received prepayments or has an unconditional right to consideration before the Group has transferred goods or services to the customer.A contract modification is the change in scope and/ or price of a contract and both parties have approved a modification that either created new or changes existing enforceable rights and obligations of the parties. A contract modificationmay exist even though there is a dispute about the scope and/ or price of the modification, or the parties have approved a change in the scope of the contract but have not yet determined the corresponding change in price. The contract modification is accounted for as a separate contract, if the scope of the contract increases due to distinct goods or services and the price increase reflects the stand-alone selling price, or as part of the original contract.Contract costs are costs to fulfil the contract and incremental costs of obtaining a contract. These are costs directly related to the contract assuming the costs generate or enhance resources of the entity that will be used in satisfying (or in continuing to satisfy) performance obligations in the future and are expected to be recovered. Costs directly connected to the contract include direct materials, direct labour, subcontractors, allocated indirect costs and costs explicitly chargeable. Incremental cost of obtaining a contract that is expected to be recovered and that would not incur if the contract had not been obtained, is capitalised and amortised as a contract cost. Cost of wasted materials, labour or other resources to fulfil the contract that is not reflected in the price of the contract, is expensed as it occurs.When it is probable that the total contract costs of meeting the obligations will exceed total contract revenue, the expected loss is recognised as an expense immediately according to IAS 37, considering both the incremental costs and allocation of other costs directly related to fulfilling the contract. An impairment loss is recognised for any contract assets or accounts receivable related to the contract before a separate provision is made.Payment terms are contractually agreed and invoicing normally follows the progress of the projects either by a fixed estimated progress or based on actual progress as defined in the contract. For certain contracts a portion of up to 10% is withheld until final approval of the delivery. Upon invoicing, the payment terms would normally be within 15\u2013 45 days.Other revenuesThe Group has a limited number of other sales transactions such as sale of materials, sale of equipment and machines closely related to the main operations of the group or sale of services. Revenues from these transactions are recognised at the point of time when control of any asset is transferred to the customer, or the service is provided. Delivery of assets can be from stock, from a construction site or at the customer\u2019s location. The normal payment term is 15 to 45 days upon delivery.WarrantiesThe Group generally provides for warranties for general repairs and does not provide extended warranties in its contracts with customers. As such, existing warranties are assurance-type warranties under IFRS 15, which are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.Significant judgement and estimation uncertaintyThe Group\u2019s business mainly consists of execution of projects. The complexity and scope of the project portfolio come with an inherent risk that the actual results may differ from expected results. The Group recognises revenue over time using contract costs incurred, resources consumed, or hours spent in relation to the total expected input to fulfil the performance obligation. For projects in progress, the uncertainty is mainly linked to the estimate of total expenses, the estimate of any variable proceeds, value of any project modifications being recognised and the impact of any disputes or contractual disagreements. As of 31 December 2022, the Group has recognised a total of NOK 12,526 million (2021: NOK 12,809 million) in accumulated revenue to date on projects in progress at year-end. Revenue(Amounts in NOK million)2022 2021RevenueContract revenue recognised over time 6,365 5,351Other revenue 665 606Total revenue 7,030 5,957Revenue from public customers 5,565 4,205Revenue from private customers 1,465 1,752Total revenue 7,030 5,957* Before other income and expenses (M&A expenses)External revenue by nature of business by segmentNorway Sweden Finland Consolidated (Amounts in NOK million)2022 2021 2022 2021 2022 2021 2022 2021Rail construction 1,106 604 1,009 613 1,609 1,515 3,723 2,731Rail maintenance 0 0 508 560 540 609 1,048 1,168Civil construction 513 441 358 279 0 0 871 720Environment 957 819 0 0 0 0 957 819Materials 0 0 0 0 413 456 413 456Other and eliminations -5 0 2 2 20 61 18 62External revenue 2,571 1,864 1,877 1,453 2,582 2,640 7,030 5,957Revenue from public customers 1,556 1,000 1,706 1,109 2,304 2,096 5,565 4,205Revenue from private customers 1,015 864 171 344 278 544 1,465 1,752(Amounts in NOK million)2022 2021Contract costs plus profit less losses to date 12,526 12,809Less progress billings including advances 12,356 12,917Work in progress, net 170 -109Gross amounts due to customers for contract work (contract liabilities) 305 424Gross amounts due from customers for contract work (contract assets), see note 15 475 315Total contract value, ongoing contracts 18,224 19,911Accumulated revenue recognised at year-end 12,526 12,809Revenues not recognised 5,698 7,102Expected to be recognised next 12 months 3,740 4,101Expected to be recognised later 1,958 3,001OTHER INFORMATION 2022 2021Billed amounts retained by customers 24 13Provision for loss-making projects 15 17Remaining revenue on loss-making projects 180 68Order backlog, ongoing projects 5,698 7,102Order backlog, projects not started 2,097 699Total order backlog 7,795 7,801Expected to be recognised next year 3,740 4,101Expected to be recognised two years 1,647 2,532Expected to be recognised in three years or later 2,409 1,167Note 5:Salaries and personnel costs(Amounts in NOK million)2022 2021Salaries 1,274 1,268Social security taxes 178 187Pension expenses 141 145Other personnel costs 53 48Tota l 1,646 1,649Full time equivalent employees 1,882 1,924\ue61fNote 6:Executive personnelCompensation to executive personnel and Board of Directors(Amounts in NOK million)2022 2021Short-term employee benefits 27 21Post-employment benefits 2 2Share-based compensation 1 1Remuneration Board of Directors 2 3Total compensation to executive personnel 32 27More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report prepared in accordance with the Norwegian Public Limited Liability Companies Act \u00a7 6-16b. The report for the financial year 2022 will be published on the Group\u2019s website subsequent to the general assembly. Note 7:Share-based payments Accounting policyEmployees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions). The sale of shares to employees at less than market price is accounted for by recognising the difference between the market value of the shares and the purchase price as a payrollexpense.The cost of equity-settled transactions is determined by the fair value of the option at the date when the grant is made. A Binominal model and the Black-Scholes model are used for the valuation. The cost related to the option is reported over the period in which the employees earn the right to receive the options. Option costs are reported as payroll expenses and offset as an increase in equity. A provision based on the accrued amount is made for employer\u2019s social security contribution to share option programmes linked to the difference between the issue price and the market price of the share at year end.General Employee Share Programme During 2022 and same as in 2021, the Group gave employees the opportunity to purchase a certain number of shares at 20% discount to the trading price at exercise. The expenses recognised for equity-settled share-based payment transactions for employee services received during the year are shown in the following table:(Amounts in NOK million)2022 2021Senior Management Share Option Plan 1.3 0.8Key Employee Share Option Programme 1.6 1.0General Employee Share Programme 1.1 1.1Tota l 4.0 3.0The discount is recorded as salaries. On 8 June 2022, a total of 254,960 shares were sold under this offer with a total discount of approximately NOK 1.0 million before social security tax. All the shares sold were treasury shares.Senior Management Share Option Plan On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of a share option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms.Options are awarded based on the Group\u2019s achievements of certain quantitative and qualitative goals determined by the Board of Directors. The options can be vested over a period of three years, with 1/3 of the aggregate number each year. Options that are not exercised during, or on the date of final expiry of the vesting period, lapse without compensation to its holder.At year-end, a total of 476,000 options were outstanding in connection with the Senior Management Option programme. 444,000 new options were formally granted, no options were exercised, and 89,125 options were forfeited during 2022. The weighted average exercise price of the remaining 476,000 options is NOK 20.75. 25,000 of the options expire in March 2023. 78,000 of the options expire in March 2024 and can be vested by 1/3 each year from March 2022 until expiry. 373,000 of the options expire in March 2025. These options can be vested by 1/3 each year from March 2023 until expiry.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options. Share option programme for key employeesOn 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of a share option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with this option programme. The authorisation is valid for a period of two years until 5 May 2024. The Board of Directors is authorised to increase the share capital and to determine the subscription price and other subscription terms.As per year-end, a total of 202,500 options are outstanding in connection with the option programme from 2020. The options can be vested over a period of 12 months from 1 June 2023 at a strike price of NOK 26.54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 65,500 options were forfeited during 2022 due to vesting conditions not being satisfied.As per year-end, a total of 5,000 options are outstanding in connection with the option programme from 2021. The options can be vested over a period of 12 months from 1 April 2024 at a strike price of NOK 26,54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employee paid the equivalent of NOK 1 for each option. No options were forfeited during 2022.742,500 options were granted for the key employee programme in 2022. The options can be vested over a period of 12 months from 1 July 2025 at a strike price of NOK 18.64. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 52,500 options were forfeited during 2022.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options.The following table summarises the number and weighted average exercise prices (WAEP) of share options for all existing plans during the year, including any movements:2022 2022 2021 2021 numberWAEPnumberWAEPOutstanding at 1 January 557,625 35.9 787,125 42.9Granted during the year 1,186,500 18.4 113,000 27.8Exercised during the year 0 0 0 0Forfeited during the year -284,625 33.2 342,500 49.5Outstanding at 31 December 1,459,500 20.9 557,625 35.9Exercisable at 31 December 201,333 23.0 129,750 65.9WAEP will be adjusted for any dividend in the period from grant to exercise.The weighted average remaining contractual life for the share options outstanding as of 31 December 2022 was 3.0 years (2021: 2.3 years).The weighted average fair value of options granted during the year was NOK 6.68 per option. Total value of these options aggregated NOK 5.5 million to be allocated over the service period assumed in the option programme.The range of exercise prices for options outstanding at the end of the year was NOK 17.70 to NOK 85.78 (2021: NOK 26.54 to NOK 85.78), before any adjustment for future dividends.The following tables list the inputs to the models used for all existing plans:Dividend is not considered as the strike price will be adjusted for any dividends paid from thetime of the establishment of the programme until options are exercised. Expected volatility is based on actual volatility 36 months back in time. 2022 2021Weighted average fair values at the measurement date 6.60 8.38Expected volatility (%) 50.0 50.0Risk\u2013free interest rate (%) 2.77 0.77Expected life of share options, months 12-42 9-51Weighted average share price 27.51 44.32Model used Binominal and Black Scholes Binominal and Black ScholesNote 8:Other operating and administrative expenses Other income and expensesAccounting policyIncome and expenses of a special nature are presented on a separate line within operating profit (loss). Such items are characterised by being transactions and events not being reliable indicators of underlying operations. Other income and expenses consist of M&A expenses, including subsequent adjustment of contingent considerations or other subsequent adjustments of final purchase price allocation in business combinations that are recognised in profit or loss.(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34Compensation to auditorsThe M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. EY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8Note 9:Financial income and expenses(Amounts in NOK million)2022 2021Interest income 6 2Interest expenses -62 -65Net foreign currency gains/(losses) -1 -2Other net financial expense 0 -1Net financial items -58 -66Note 10:Taxes Accounting policyThe tax expense in the income statement consists of the tax payable for the period and the change in deferred tax. Tax is usually recognised in the income statement, except when it is related to items that are recognised in other comprehensive income, in discontinued operations or directly in equity, that also include the tax effect of those relevant transactions.The tax expense is calculated in accordance with the tax laws and regulations that have, or have essentially, been enacted by the tax authorities on the date of the balance sheet. It is the legislation in the countries where the Group\u2019s subsidiaries operate and generate taxable income that determine how the taxable income is calculated.Deferred tax is calculated for all temporary differences between tax values and carrying values of assets and liabilities. Deferred tax is determined by means of the tax rates and tax laws that have been enacted or substantially enacted on the balance sheet date, which are assumed to apply when the deferred tax asset is realised or when the deferred tax is settled.Deferred tax is not calculated for temporary differences from investments, except when the Group cannot control the timing of the reversal of the temporary differences, and it is probable that these will be reversed in the foreseeable future.Deferred tax assets are also recognised for unused tax losses and unused tax credits. Deferred tax assets are recognised to the extent that it is probable that taxable profit or deferred tax liabilities will be available against which the unused tax losses and unused tax credits can be utilised. The deferred tax assets are recognised to the extent it is probable that they can be utilised based on forecasts and projections within a reasonable period of time.In the balance sheet, deferred taxes are reported net if the Group has a legal right to offset deferred tax assets against deferred taxes and if the deferred taxes are owed to the same tax authority.Significant judgement and estimation uncertaintyDeferred tax assets of NOK 79 million in Norway and NOK 18 million in Sweden have been recognised as it is assumed probable that they can be utilised againstfuture taxable profit based on forecasts and projections. Deferred tax assets are recognised for unused tax losses to the extent that it is probable that deferred tax liability or taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits, together with future tax planning optimisation.Deferred tax(Amounts in NOK million)2022 2021Deferred tax relates to the following:Intangible assets -1 -5Property, plant and equipment -14 -14Right-of use assets -122 -111Net contract assets/receivables -9 -16Tax allocation reserve, Sweden -1 -5Tax losses carried forward 243 251Lease liabilities 114 105Pensions 3 4Other temporary differences 5 15Total deferred tax assets/ liabilities (-) 219 224Deferred tax assets not recognised -122 -88Net deferred tax assets/ liabilities (-) 97 135Reflected in the consolidated balance sheet as follows:Deferred tax assets 98 137Deferred tax liabilities -1 -2Net deferred tax assets/ liabilities (-) 97 135Total net deferred tax assets of NOK 97 million are split between NOK 79 million in Norway (2021: NOK 90 million) and NOK 18 million in Sweden (2021: NOK 47 million) and have been recognised as it is assumed probable that they can be utilised against future taxable profit based on forecasts and projections, or if needed in combination with tax planning opportunities. Sweden has suffered pre-tax losses recent years. Several measures have been implementedto restore profitability. Improvement programmes initiated in the second half of 2019 have been implemented and yielded improved results for the core divisions. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive operating income for the year. The results in Rail maintenance have also improved, contributing to positive operating income, and winning 4 maintenance contracts provides a solid outlook for this business. The total result in Sweden was however negative in 2022 due to losses in the Civil construction division. As a consequence of the losses in Civil construction, NRC Group will do a strategic review of the Civil operations and implement necessary actions to secure profitability in Sweden.Based on Management\u2019s assessment of future taxable profit and future tax optimisation, total deferred tax assets of NOK 122 million (2021: NOK 88 mill) in Sweden have not been recognised. In 2022 a net tax expense of NOK 36 million was recognised due to net increase in non-recognised deferred tax assets in Sweden.The net deferred tax liability of NOK 1 million relates to Finland.(Amounts in NOK million)2022 2021Reconciliation of net deferred tax assets/ liabilities (-)As of 1 January 135 105Tax income/ expense (-) during the period -33 33Tax income/ expense (-) during the period, recognised in OCI -5 -4Effect of foreign currency translation -1 -2Other 2 2As of 31 December 97 135The Group has total tax losses carried forward of NOK 443 million in Norway (2021: NOK 471 million) and NOK 708 million in Sweden (2021: NOK 715 million), that can be used to reduce future tax payments. There are no restrictions on the Group\u2019s ability to carry forward the tax losses.The tax rates for Norway, Sweden and Finland are 22%, 20.6% and 20%, unchanged from 2021. No changes in tax rates are expected for 2023. The major components of income tax expense areTax related to other comprehensive incomeReconciliation of tax expense and accounting profit(Amounts in NOK million)2022 2021Current income tax charge 17 36Change in deferred tax 33 -33Tax expense/ income (-) 51 3(Amounts in NOK million)2022 2021Items that may be reclassified to profit and loss 4 5Items that will not be reclassified to profit and loss 1 -1Tax expense/ income (-) included in OCI 5 4(Amounts in NOK million)2022 2021Net income/ loss (-) before tax from continuing operations -313 -24Estimated tax on income before tax -63 -4Effect of permanent differences 78 9Effect of tax assets being (-)/ not being recognised 34 -1Other 2 -1Income tax expense/ income (-) 51 3Note 11:Earnings and diluted earnings per share: The earnings per share are calculated by dividing the disposable profit/loss for the year with the weighted average of ordinary shares issued throughout the year, less the Company\u2019s own shares. For the movement in the share capital of the Company see note 17.2022 2021Earnings per share (ordinary), NOK -4.98 -0.36Profit/loss for the year attributable to shareholders of the parent, NOK million -363 -26Weighted average externally owned shares 72,855,963 72,915,922Effect of dilution from share options 1,255,256 742,906Weighted average externally owned shares adjusted for dilution 74,111,219 73,658,828Note 12:Intangible assetsAccounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Significant judgement and estimation uncertaintyThe Group performs annual tests to assess the impairment of goodwill, or more frequently if there is an indication of impairment. The NRC Group\u2019s share price development and operating losses in Sweden are impairment indicators being considered as part of the test. Goodwill had a carrying amount at 2022 year-end of NOK 2,716 million before impairment. In the impairment test the carrying amount is measured against the recoverable amount of the cash-generating unit to which the asset is allocated. The recoverable amount of cash generating units is determined by calculating its value in use. These calculations require the use of assumptions and estimates related to future cash flows and discount rate. The recoverable amount is sensitive to the discount rate used for the discounted cash flow model as well as the expected future net cash-inflows and the growth rate used for extrapolation purposes. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment. Most sensitive to further impairment is also our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows. Climate riskThe Group has considered climate risk in relation to impairment testing of goodwill. Climate-related matters can affect future cash flows, the value of the assets being tested and the expected useful life of these. Any consequences of this are considered in the impairment test of goodwill. No such effects were identified related to the impairment test in 2022 or 2021.Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.Allocation of goodwill to cash generating unitsThe Group has allocated goodwill to each cash generating unit which corresponds to the geographical areas of the business units acquired. The carrying amount of goodwill is as follows:(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729(Amounts in NOK million)2022 2021Norway 778 778Sweden 255 623Finland 1,331 1,265Tota l 2,364 2,666The decrease in the carrying amount of goodwill in Sweden is due to an impairment of NOK 352 million in addition to currency effects. The increase in the carrying amount of goodwill related to Finland is entirely due to currency effects as NOK has weakened compared to EURduring 2022.The Group has made several acquisitions over the past years. These businesses are all within the existing business segments and they strengthen the Group\u2019s overall capabilities to undertake additional, larger and more complex projects. There is an ongoing process of reorganising the acquired companies. The business units acquired do no longer have cash inflows independent from other group companies or operations, and the expected benefit of the synergies from the combinations will be on country rather than company level. Due to this, the smallest group of assets generating cash inflows largely independent of cash inflows from other assets or group of assets, are the geographical areas Norway, Sweden and Finland respectively.Impairment tests of goodwill and other intangible assetsThe Group considers the relationship between its market capitalisation, carrying amounts and other factors when identifying indicators of impairment. During 2022, NRC Group\u2019s share price development and operating losses in Sweden were impairment indicators being considered as part of the test. The Group performs its annual impairment tests in the fourth quarter. Tests are carried out by comparing recoverable amount with carrying amount of the units to which goodwill is allocated. The recoverable amount is calculated based on the discounted estimated future cash flows before tax with the relevant discount rate (WACC).Estimated cash flows for the years 2023 \u2013 2027 are based on projections approved by the Board. Revenue growth in average per year used in the impairment tests were 2.2% in Norway, -3.5% in Sweden and 1,7% in Finland. The revenue growth assumptions are supported by the current order backlog and external information such as the tender pipelineand the transport plan in each country. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment following the negative Q4 results mainly caused by losses in the Civil construction division. Remaining goodwill related to the Swedish operations per 31 December 2022 is SEK 270 million. Restoring profitability in Sweden is the main priority for the Group. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive EBITA for the year. The results in Maintenance have also improved, contributing to positive EBITA results, and winning 4 maintenance contracts provides a solid outlook for this business. As a consequence of the losses in Civil construction, NRC Group will do a strategicreview of the Civil operations and implement necessary actions to secure profitability in Sweden. The discount rate before tax is 10.3% for Norway, 8.8% for Sweden and 9.4% for Finland. For the years subsequent to 2027, a terminal growth of the net cash flow of 2.95% in Norway, 1.67% in Sweden and 2.42% in Finland have been applied. Sensitivity The calculation of value in use is sensitive to the estimates of revenues, project margin, discount rate and terminal growth. Most sensitive to further impairment is our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December 2022. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows.The pre-tax discount rate applied in Sweden is 8.8%, and the assumption for terminal growth 1.67%. Small negative changes to the assumptions in the impairment model would lead to further impairment charges. An increase in the discount rate of 1.0% would lead to further impairment of SEK 85 million, while a terminal growth of zero would lead to an impairment of SEK 56 million. A decrease in the project margin of 0.5 percentage points in the terminal year would lead to an additional impairment loss of SEK 100 million. For Norway and Finland, no reasonably likely change in the key assumptions listed above would cause the carrying value to materially exceed the recoverable amount for any of the CGUs.Note 13:Property, plant and equipmentAccounting policyProperty, plant and equipment are recognised at cost less accumulated depreciation and impairment loss. The cost of an item of property, plant and equipment includes costs that are directly attributable to the acquisition of the assets.Subsequent expenditure is recognised in the carrying amount of the asset, if it is probable that the future economic benefits related to the expenditure will flow to the Group, and the expenditure can be reliably measured. The carrying amount of any parts that are replaced is derecognised.All other repair and maintenance costs are recognised in the income statement in the period when the costs are incurred, except for certain regular major inspections as described below.Depreciation is calculated on a straight-line basis over the expected useful life of the asset, as follows:Buildings: 15 - 50 yearsMachinery and fixtures: 3 - 20 yearsThe economic life of the non-current assets and the residual value are reviewed on the date of each balance sheet and adjusted prospectively if required.An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses arising on derecognition of the asset are presented as part of the operating profit/loss and calculated as the difference between the net disposal proceeds and the carrying amount of the asset.If regular major inspections for faults or overhauls, regardless of whether parts of the item are replaced, is a condition of continuing to operate the equipment or to extend its economic lifetime, the related periodic maintenance can be capitalised and depreciated on a straight-line-basis until the next expected periodic maintenance is required. At the end of 2022, no such expenses were capitalised.Impairment considerationProperty, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Property, plant and equipment(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2022 15 169 184Translation differences 0 0 0Additions - 41 41Disposals - -8 -8Depreciation for the year - -33 -33Carrying amount as of 31/12/2022 15 169 184Total cost 20 374 394Accumulated depreciation -5 -205 -210Accumulated impairment - - -Carrying amount as of 31/12/2022 15 170 184Property, plant and equipment cont.(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2021 17 214 231Translation differences -1 -14 -15AcquisitionsAdditions 22 22Disposals -17 -17Depreciation for the year -1 -37 -38Carrying amount as of 31/12/2021 15 169 184Note 14:Right-of-use assets Accounting policyThe Group leases various offices, warehouses, machinery, equipment and cars. Contracts are typically made for fixed periods of 3 to 10 years but may have extension and termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period based on the remaining balance of the liability for each period.The Group has elected to use the two exemptions proposed by the standard (IFRS 16) on the following contracts:Lease contracts with a duration of equal to or less than 12 monthsLease contracts for which the underlying asset has a low valuePayments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense over the lease term in profit or loss.Right-of-use assetsRight-of-use assets are recognised at cost less accumulated depreciation and impairment loss. Initial recognition of right-of-use assets are measured at cost comprising the following:the amount of the initial measurement of lease liabilityany lease payments made at or before the commencement date less any lease incentives received, any initial direct costs, andrestoration costsRight-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:Intangible assets 1-3 yearsLand, offices and buildings 1-12 years Machinery, cars and equipment 1-25 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are subject to impairment testing. Refer to section regarding Impairment.Lease liabilitiesLease liabilities include the net present value of the following lease payments:fixed payments less any lease incentives receivablevariable lease payment that are based on an index or a rateamounts expected to be payable by the lessee under residual value guaranteesthe exercise price of a purchase option if the lessee is reasonably certain to exercise that option, andpayments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee\u2019s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Options (extension / termination) on lease contracts are considered on a case-by-case basis following a regular management assessment. The borrowing rates used for IFRS 16 purposes have been defined based on the underlying countries and asset classes related risks. The Group\u2019s weighted average incremental borrowing rate is 2.71%.Impairment considerationRight-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Right-of-use assets(Amounts in NOK million)2022 2021Land, offices and buildings 73 73Machinery, cars and equipment 491 441Total ROU assets 564 514Depreciation charge during the year:The lease expense for short-term and low-value leases mainly consists of project related short-term lease agreements. For information about the related leasing liabilities, please refer to note 19.(Amounts in NOK million)2022 2021Intangible assets 0 1Land, offices and buildings 30 33Machinery, cars and equipment 121 124Total depreciation expense 151 158Interest expense on lease liabilities 11 12\ue61dLease expense - short-term and low-value leases 132 119\ue61dTotal cash outflow for all leases 302 287\ue61dAddition of ROU assets during the financial year 192 134\ue61dNote 15:Trade receivables and other receivables Trade and other current receivables by currency:Age distribution of trade receivables: (Amounts in NOK million)2022 2021Trade receivables 772 939Provisions for expected losses -7 -10Trade receivables \u2013 net 765 929Contract assets 475 315Other current receivables 185 115Total current receivables 1,425 1,359(Amounts in NOK million)2022 2021Trade receivables not due for payment 604 755Up to 30 days 93 114Between 30 and 90 days 42 51Over 90 days 33 19Total receivables due for payment 168 184Total trade receivables 772 939(Amounts in NOK million)2022 2021NOK 586 473SEK 381 335EUR 458 552Total current receivables 1,425 1,359Total receivablesNote 16:Cash and cash equivalents Accounting policyCash and cash equivalents consist of cash, bank deposits and other short-term and highly liquid investments with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.Trade and other current receivables by currency:Cash and cash equivalents per currency:Restricted cash includes the employees\u2019 tax withholdings and cash deposits for rent agreements.Negative cash in SEK and EUR is related to and netted as part of the Group\u2019s cash pool agreement with Danske Bank.(Amounts in NOK million)2022 2021Cash and bank deposits 472 626Restricted cash 0 0Tota l 472 626(Amounts in NOK million)2022 2021NOK 389 493SEK -118 -18EUR 201 152Tota l 472 626Note 17:Share capital and shareholder informationAccounting policyExpenses that are directly attributable to the issue of new shares less taxes are recognised against the equity as a reduction in the proceeds.Payments for the purchase of own shares are recognised as a reduction in equityand proceeds from any sale as an increase. A loss or gain is not recognised in theincome statement for any purchase, sale, issue or cancellation of own shares.NRC Group ASA has one class of shares. The total number of external shares at year-end was 72,837,893 excluding 116,656 own shares (2021: 72,953,966 excluding 583 own shares), with a nominal value of NOK 1.00 each. The share capital as of 31 December 2022 totalled NOK 72,954,549 (2021: 72,954,549).On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of an option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. The authorisation only applies to issuances of shares against payment in cash and is valid until 6 May 2023. 131,407 shares have been issued and 476,000 options were granted and outstanding under this programme as per 31 December 2022.This programme is further described in note 7.On 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of an option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with the option programme for key employees. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. No shares have been issued under this programme and 983,500 options were granted and outstanding at 31 December 2022. The authorisation only applies to issuances of shares against payment in cash and is valid until 5 May 2024. This Programme is further described in note 7.At the Annual General Meeting on 5 May 2022, the General Meeting granted the Board of Directors an authorisation to acquire shares in the Company for up to a maximum nominal value of NOK 7,295,454.90. The Board of Directors\u2019 acquisition of shares pursuant to the authorisation can only take place between a minimum price of NOK 1 and a highest price of NOK 100 per share. The authorisation applies until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023. Acquisitions and disposals of treasury shares can take place in the manner found appropriate by the Board of Directors.On the general meeting 5 May 2022, the Board of Directors were authorised to increase the share capital by up to NOK 7,295,455.00, through issuance of up to 7,295,455 new shares, each with a par value of NOK 1.00. The capital increase may be paid in cash, by set-off or by contributions in assets other than money. The authorisation includes the right to incur special obligations on behalf of the company, cf. Section 10-2 of the Norwegian Public Limited Companies Act. The shareholders\u2019 pre-emptive rights pursuant to Section 10-4 of the Norwegian Public Limited Companies Act may be waived by the Board of Directors, cf. Section 10-5 of the Norwegian Public Limited Companies Act. The authorisation includes decisions on merger, cf. Section 13-5 of the Norwegian Public Limited Companies Act. The authorisation is valid from registration with the Register of Business Enterprises until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023, and includes the right to change the company\u2019s Articles of Association in connection with the share capital increase.The movement in the number of shares, excluding own shares, during the year was as follows:Treasury sharesThe Company owned 583 treasury shares at the beginning of 2022. During 2022, the Company acquired 371,033 treasury shares at a total proceed of NOK 7.0 million. 254,960 of the shares were transferred to the employees participating in the 2022 share programme for employees. At the end of 2022, the Company owned 116,656 treasury shares corresponding to 0.16 % of the total number of outstanding shares. The Board of Directors has a mandate until the Annual General Meeting in the spring of 2023 and no later than 30 June 2022, to acquire up to 7,295,455 of the Company\u2019s own shares.Total number of shares on 31 December 2021 72,954,549Total number of shares on 31 December 2022 72,954,549 Ownership structureThe number of shareholders as of 31 December 2022 was 4,317, compared with 4,576 as of 31 December 2021. The percentage of issued shares held by foreign shareholders was 56.75%, compared with 55.6 % at year-end 2021.NRC Group\u2019s 20 largest shareholders as of 31 December 2022:Name Country Holding Stake (%)Vr-yhtym\u00e4 OY Fin 13 336 415 18,28J.P. Morgan SE Lux 7 402 764 10,15The Bank of New York Mellon SA/NV Bel 7 014 701 9,62J.P. Morgan SE Lux 3 702 909 5,08Verdipapirfondet Nordea Norge Nor 2 172 468 2,98Protector forsikring ASA Nor 1 868 968 2,56Skandinaviska Enskilda Banken AB Lux 1 720 000 2,36Verdipapirfondet Nordea Avkastning Nor 1 319 412 1,81Gunnar Knutsen Holding AS Nor 1 252 677 1,72Avanza bank AB Swe 1 186 320 1,63Vinterstua AS Nor 1 008 963 1,38Clearstream Banking S.A. Lux 1 004 173 1,38LGA Holding AS Nor 922 880 1,27Heim Haugo AS Nor 850 745 1,17J.P. Morgan SE Lux 829 460 1,14Danske Invest Norge vekst Nor 719 988 0,99Verdipapirfondet Nordea Kapital Nor 680 855 0,93Verdipapirfondet Nordea Norge Plus Nor 669 115 0,92Nordea bank ABP Fin 603 487 0,83Nordnet bank AB Swe 587 933 0,81Total number of shares owned by top 20 48 854 233 66,97Total number of shares 72 954 549 100,00Shares held by members of the Board of Directors and executive management on 31 December 2022 including shares controlled through holding companies and related parties:187,167 of the share options to the executive management were exercisable at year-end. See note 7 for further information. DividendBased on the 2022 results, the Board of Directors will propose no dividends for 2022. 1 Including 133,996 shares held by Jodfabrikken AS, a company wholly owned by Ole Anton Gulsvik.Ordinary Share sharesoptionsRolf Jansson Chairman of the Board of Directors 65,000Eva Nygren Board member 1,000Heikki Allonen Board member 28,000Mats Williamson Board member 30,000Tove Pettersen Board member 5,000Karin Orgland Board member 15,000Outi Henriksson Board member 5,000Henning Olsen CEO NRC Group 114,306 135,000Ole Anton Gulsvik1 CFO NRC Group 138,277 75,000Arild Moe EVP & MD NRC Group Norway 232,033 57,000Harri Lukkarinen EVP & MD NRC Group Finland 16,962 115,500Lene Engebretsen EVP & Head of communications 9,259 41,000Jussi Mattsson EVP & Head of Strategy and Business Dev. 5,252 35,000Marianne Kellmer EVP & Head of HR 4,281Note 18:PensionsAccounting policyThe Group has several defined contribution plans. A defined contribution plan is a pension plan in which the Group pays fixed contributions to a separate entity (fund) and where the Group does not have any legal or constructive obligation to pay additional contributions if the fund does not have sufficient assets to pay all employees\u2019 benefits relating to their service in current and prior periods. The expense for each period is determined by the amounts of contributions for that period. Contributions paid in advance are recognised as an asset to the extent that the contribution can be refunded or be used to reduce future payments.The Group has a supplementary defined benefit post-employment plan in Finland, administrated by an external insurance company. Remeasurements of actuarial gains and losses on the net defined benefit liability and the return on plan assets, are recognised immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.Past service costs are recognised in profit or loss on the earlier of:The date of the plan amendment or curtailment, andThe date that the Group recognises related restructuring costsNet interest is calculated by applying the discount rate to the net defined benefit liability or asset and included in the net pension expense.The Group also has contractual retirement scheme (AFP) for a certain part of their employees in Norway. The AFP pension scheme is a defined benefit multi-employer plan that is financed though premiums paid by participating employers. Because the scheme\u2019s administrator is not providing information to identify the participating employer\u2019s share of financial position and performance with sufficient reliability, the AFP scheme is accounted for as a defined contribution scheme.The Group has defined contribution plans covering all employees in Norway, Sweden and Finland. In Norway, the Group also has contractual retirement scheme (AFP) for a certain part of their employees accounted for as a defined contribution scheme. AFP premiums for 2022 are fixed at 2.6% of salary up to approximately NOK 0.8 million. In Finland, the Group has a defined benefit plan related to a supplementary old age pension scheme in an insurance company.(Amounts in NOK million)2022 2021Pension expensesDefined contribution plans 137 140Defined benefit plans 0 1Contractual pension, multi-employer plan, Norway 4 4Total pension expenses 141 145Number of employees coveredDefined contribution plans 1.907 1,840Defined benefit plans, active 37 70Defined benefit plans, pensioners 374 398Early retirement scheme, Norway (AFP) 391 339Defined benefit expensesDefined benefit plan, net expense 0 1Actuarial gain and losses recognised in OCI, net of tax -6 4Recognised in total comprehensive income -6 5Defined benefit obligationDefined benefit obligation 1 January 91 101Current service cost - 1Interest cost - 0Benefits paid -8 -9Actuarial gain (+)/ losses (-) -25 3Curtailment - -Currency differences 3 -5Defined benefit obligation 31 December 61 91SensitivityChange in discount rate with 0.50 percentage point will change net pension liability with approximately NOK 1 million. Change in benefit or bonus index with 0.50 percentage point will change net pension liability with approximately NOK 2 million.(Amounts in NOK million)2022 2021Plan assetsPlan assets 1 January 75 90Interest income - 0Contribution paid - 1Benefits paid -8 -9Actuarial gain (+)/ losses (-) -19 -3Curtailment - -Currency differences 4 -4Plan assets 31 December 52 75Net defined benefit liability 31 December 9 16(Amounts in NOK million)31.12.2022 31.12.2021Actuarial assumptionsDiscount rate 3.25% 0.40%Salary increase 3.70% 3.20%Inflation 2.50% 1.90%Mortality (TyEL) K2016 K2016Benefit increase 2.70% 2.00%Insurance company bonus index 0.25% 0.00%Turnover rate 3.00% 3.00%Note 19:Loans and other non-current liabilitiesThe composition of non-current and current interest-bearing liabilities is as follows:The interest-bearing debt has variable interest rates or interest adjustment clauses that are shorter than three months at any given time. Since the debt can be repaid, other than the bond, at the time when the interest rate is regulated, the difference between the fair value and carrying amount will be small and insignificant.Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. On 19 January 2023, an amended credit facility was signed. In addition to the existing credit facility of NOK 200 million, it includes a seasonal credit facility of NOK 300 million which will be available under certain circumstances. *The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period. ** Minimum zero(Amounts in NOK million)2022 2021Interest-bearing non-current liabilities:Lease liabilities 353 319Bond debt 600 600Other loans and borrowings 141 280Total interest-bearing non-current liabilities 1,095 1,199Interest-bearing current liabilities:Lease liabilities 175 173Loans and borrowings 153 146Total interest-bearing current liabilities 328 319(Amounts in NOK million)NOK EUR SEKLease liabilities + 1.75% - 4.00% + 2.60% - 3.45% + 3.30% - 4.80%Bond debt 3-month NIBOR*+ 4.51%Bank loan 3-month EURIBOR**+ 2.05%Credit facility 3-month NIBOR 3-month EURIBOR 3-month STIBOR+ 1.45% + 1.65% + 1.65%The margins on the bank loan and credit facility depend on the leverage ratio (net interest-bearing debt to adjusted EBITDA). During 2022, the margin on the bank loan started at 2.05%,decreased to 1.85% and ended at 2.05% at year end. The margin can be in a range of 1.70% to 2.50%. During 2022, the margin on the credit facility was between 1.20% and 1.45 % of the total range of 1.00% and 1.65% for NOK, and between 1.40% and 1.65% of the total range of 1.20% and 1.85% for EUR and SEK. The margin on the amended credit facility valid from 19 January is aligned for all currencies and is in the range of 1.00% and 1.65%. The reference rates NIBOR, STIBOR and EURIBOR will be limited at minimum zero.Carrying amount of non-current and current interest-bearing liabilities:Year-end 2022The undiscounted maturity structure of the NRC Group\u2019s current and non-current interest-bearing liabilities including estimated interest expenses where applicable is as follows:(Amounts in NOK million)2022 2021NOK 987 909EUR 388 540SEK 47 69Total interest-bearing liabilities 1,423 1,518(Amounts in NOK million)1H 2023 2H 2023 2024 2025 2026 2027 2028 ->Leasing 96 91 133 97 62 30 49Bond 18 18 625 - - - -Bank loans 82 80 145 - - - -Tota l 195 189 904 97 62 30 49Hereof interest 29 26 34 5 3 2 1Year-end 2021Covenants at year-end 2022The bond matures at 13 September 2024. The bank loan refers to a EUR facility with Danske Bank with quarterly instalments of EUR 3.6 million and final settlement on 7 January 2024. On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern amongst others a reduction of quarterly instalments to EUR 1.2 million and a postponed final settlement date of 8 July 2024.The Company\u2019s term facilities with Danske Bank ASA and the NOK 600 million senior unsecuredbond contain certain financial conditions based on the facility agreements that may not be directly related to reported IFRS numbers:Interest cover ratio: 12 months rolling EBITDA adjusted for acquisition costs and certain non-recurring items in relation to relevant financial net payments.Leverage ratio: Net interest-bearing debt in relation to adjusted 12 months rolling EBITDAEquity ratio: Equity in relation to total assets(Amounts in NOK million)1H 2022 2H 2022 2023 2024 2025 2026 2027 ->Leasing 97 85 125 82 53 27 46Bond 18 18 36 627 - - -Bank loans 78 76 150 137 - - -Tota l 193 179 311 846 53 27 46Hereof interest 27 25 46 31 2 1 2Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 16.54Leverage ratio, Danske Bank \u2264 3.50 2.78Equity ratio, Danske Bank > 25% 45 %Interest cover ratio, bond >2.50 5.88Equity ratio, bond > 25% 45 %Covenants at year-end 2021There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. In the Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank signed 14 February 2023, the leverage ratio covenant has increased with 0.25 for the period Q4 2022 until Q4 2023. Consequently, the leverage ratio for the Danske Bank facility will be 3.75 for the period Q4 2022 to Q3 2023, reduced to 3.5 in Q4 2023 and will be 3.25 from the beginning of 2024. There were no breaches of the financial covenants of any interest-bearing liability during 2021.The bond agreement includes for certain transactions such as paying dividend and taking on new loan agreements, requirements of an incurrence test with leverage ratio < 3.0 compared to actual 2.8 on 31 December 2022. The leverage ratio in respect of dividend distributions reduces to 2.5 from 1 January 2023. Paying dividend is restricted to 50% of any net income for the year. No dividend is proposed for 2022.Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 11.71Leverage ratio, Danske Bank \u2264 4.00 2.66Equity ratio, Danske Bank > 25% 47 %Interest cover ratio, bond >2.50 5.1Equity ratio, bond > 25% 47 %Changes in interest-bearing liabilities arising from financing activities:(Amounts in NOK million)2022 2021Interest-bearing liability at 1 January 1,518 1,768Repayment of borrowings -147 -147Payments of lease liabilities -171 -168Leasing liabilities, net of additions, terminations and adjustments 196 102Currency adjustment 27 -37Interest-bearing liability at 31 December 1,423 1,518Note 20:Other current liabilities (Amounts in NOK million)2022 2021Accrued salaries etc 266 272Accrued project expenses 133 113Provisions 20 24Other current liabilities 74 51Tota l 492 460Note 21:ProvisionsAccounting policyClaims and disputes The Group recognises provisions when there is a present legal or constructive obligation as a result of past events, it is probable that the obligation will be settled by a transfer of economic resources, and a reliable estimate can be made of the amount of the obligation.Contingent liabilities are not recognised unless assumed in a business combination. Contingent liabilities assumed in a business combination are initially measured at fair value. Subsequently, it is measured at the higher of the best estimate of the expenditure required to settle the obligation and the amount initially recognised less (when appropriate) cumulative amortisation recognised in accordance with the requirements for revenue recognition.Warranty Provisions for warranty-related costs are recognised when the project is delivered to the customer. Initial recognition is based on historical experience. The initial estimateof warranty-related costs is revised annually.(Amounts in NOK million)Warranty provisions Provisions for Total provisionsloss-making projectsOpening Balance 1 January 2022 7 17 24Translation differences 0 0 0Arising during the year 3 12 14Utilised -2 -1 -3Unused amounts reversed -3 -13 -16Closing Balance 31 December 2022 5 15 20Provisions cont.(Amounts in NOK million)Warranty provisions Provisions for Total provisionsloss-making projectsOpening Balance 1 January 2021 6 18 24Translation differences 0 -1 -1Arising during the year 4 13 17Utilised -1 -8 -9Unused amounts reversed -2 -4 -6Closing Balance 31 December 2021 7 17 24Note 22:Pledged assets, guarantees and securityBank loans amounting to EUR 28.2 million and an unused credit facility of NOK 200 million are secured by pledge over shares in subsidiaries, other than GSP and JVK, amounting to NOK 2,000 million, receivables, inventory and operating equipment amounting to NOK 500 million per entity and intra-group loans of NOK 2,000 million. Total book value of receivables and inventory amounts to NOK 1,454 million. Leasing liabilities amounting to NOK 528 million are secured by way of the underlying assets for which the legal ownership is kept by the lease counterpart. Total book value of right-of-use assets amounts to NOK 564 million.The Group has framework agreements with Tryg Garanti/ Tryg Forsikring A/S (utilised NOK 378 million out of NOK 450 million), Nordic Guarantee (utilised NOK 44 million out of NOK 44 million), House of Guarantees AS (utilised NOK 99 million out of NOK 200 million), Euler Hermes Norge (utilised NOK 95 million out of NOK 200 million), Garantia Insurance Company Ltd (utilised EUR 23 million of EUR 30 million) and Standard Garanti Forsikring AS (utilised NOK 8 million out of NOK 150 million). Guarantees are issued as collateral for the fulfilment of the Group\u2019s contractual obligations. These could be based on contract performance, prepayments, warranty obligations, withholding taxes and similar.Note 23:Fair value of assets and liabilities, and financial assets per categoryAccounting policyFinancial instrumentsFinancial assetsFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them.All material financial assets are measured at amortised cost. In general, financial assets are recognised initially at fair value plus transaction costs and are subsequently measured at amortised cost using the effective interest rate method, less provision for losses that have been incurred.At initial recognition, trade and other receivables that do not have a significant financing component are measured at their transaction price. Financial assets measured at amortised cost are financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that are solely payments of principal and interest on the principal amount outstanding. This category includes the Group\u2019s trade and other receivables, contract assets, any loans included under other non-current financial assets and cash and cash equivalents.For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses. The Group recognises a loss provision at each reporting date for the total expected credit loss based on individual assessments of specific trade receivables and contract assets.Financial assets are derecognised when the rights to receive cash flows from theasset have expired.Financial liabilitiesFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.Most relevant to the Group is loans and borrowings or payables and consists of current and non-current interest-bearing loans, lease liability and trade and other payables. Financial liabilities are recognised initially at fair value net of directly attributable transaction costs and are subsequently measured at amortised cost using the effective interest rate method. A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss. Loans are classified as current liabilities unless there is an unconditional right to defer payment of the debt by more than 12 months from the date of the balance sheet. Trade and other payables are classified as current if payment is due within one year or less. Otherwise, they are classified as non-current.Derivative financial instruments and hedge accounting The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risks and interest risk. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.For the purpose of hedge accounting, hedges are classified as:Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset orliability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitmentHedges of a net investment in a foreign operationAt the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.For cash flow hedges, the effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised as OCI while any gains or losses relating to the ineffective portion are recognised in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.There are no material differences between the fair value and carrying value of financial assets and liabilities.Financial instruments per category 2022(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2021costvaluecostNon-current financial assets 23 15 8Total inventories 29 29Trade receivables 765 765Contract assets 475 475Other current receivables 185 29 156Cash & cash equivalents 472 472Tota l 1,950 15 1,750 185Pension obligations 11 11Interest-bearing non-current 1,095 1,095liabilitiesDeferred tax 1 1Other non-current liabilities 0Interest-bearing current 328 328liabilitiesTrade payables 504 504Contract liabilities 305 305Public fees payable 143 143Tax payable 1 1Other current liabilities 492 492Tota l 2,879 1,927 952Financial instruments per category 2021Non-financial assets and liabilities include contract liabilities, advance payments, accruals and provisions.The table below analyses financial instruments recorded at fair value according to valuation method. The different levels are defined as follows:(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2022costvaluecostNon-current financial assets 9 1 9Total inventories 28 28Trade receivables 929 929Contract assets 315 315Other current receivables 115 53 62Cash & cash equivalents 626 626Tota l 2,022 1 1,932 90Pension obligations 16 16Interest-bearing non-current 1,199 1,199liabilitiesDeferred tax 2 2Other non-current liabilities 8 8Interest-bearing current 319 319liabilitiesTrade payables 359 359Contract liabilities 424 424Public fees payable 154 154Tax payable 25 25Other current liabilities 460 460Tota l 2,966 8 1,877 1,081Level 1: Fair value is measured using quoted prices from active markets for identical financial instruments. No adjustment is made for these prices.Level 2: Fair value is measured using other observable input than that used in level 1, either directly (prices) or indirectly (derived from the prices).Level 3: Fair value is measured using input that is not based on observable market data.Financial assets at fair value:Financial liabilities at fair value:(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial assets at fair value through profit or loss 1 1Derivatives defined as hedging instruments 0Total at 31 December 2021 0 0 1 1Financial assets at fair value through profit or lossDerivatives defined as hedging instruments 15Total at 31 December 2022 0 0 15 15(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial liabilities at fair value through profit or loss 4 4Derivatives defined as hedging instruments 4 4Total at 31 December 2021 0 4 4 8Financial liabilities at fair value through profit or lossDerivatives defined as hedging instrumentsTotal at 31 December 2022 0 0 0 0The carrying value of cash and cash equivalents and liabilities to credit institutions is virtually the same as their fair value since these instruments have a short maturity term. Correspondingly, the carrying value of trade receivables and trade payables are virtually the same as the fair value, as they are agreed upon under \u201dnormal\u201d terms. This also applies to unpaid government charges, tax payable and current liabilities. A large proportion of non-current liabilities has variable interest rates and continuous interest rate adjustment, and therefore the carrying value is substantially the same as the fair value. The fair value of the group\u2019s interest rate hedge per year-end is estimated using the forward rate on the balance sheet date and is confirmed by the financial institution with which the agreement is signed. For more information about the hedging instruments, please refer to note 24.Note 24:Financial riskThe Group activities involve various types of financial risk: market risk (currency and interest rate), credit risk and liquidity risk. A Group risk management policy for hedging is implemented to manage this risk, and the Group has a central finance department to carry out the risk management in close cooperation with the subsidiaries. The Group\u2019s senior management oversees the management of these risks. The purpose of risk management is to minimise any potentially negative impact on the Group\u2019s financial results.Market riskMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk most relevant to the Group comprises currency risk and interest rate.a. Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019s operating activities and the Group\u2019s net investments in foreign subsidiaries.The Group focuses on reducing any foreign currency risk associated with cash flows, and on reducing the foreign currency risk associated with assets and liabilities. The subsidiaries in general have revenue and expenses in the same currency, and this substantially reduces the Group\u2019s cash flow exposure to a single currency. The finance department carries out assessments of the need for any hedging of currency risk in cash flows, based on a group hedging policy.The EUR 28.2 million loan in Danske Bank hedges the net investment in Finland. Intercompany loans considered as part of the net investment in foreign operations include a SEK 300 million loan to Sweden. Net foreign exchange gains totalled NOK -1 million in 2022 (2021: NOK -2 million).The NOK/SEK rate of exchange as of 31 December 2022 was 0.9453 (2021: 0.9745), while the average of the monthly average rates used to translate the income statement was 0.9506 (2021: 1.002). The NOK/EUR rate of exchange as of 31 December 2022 was 10.5138 (2021: 9.9888), while the average of the monthly average rates used to translate the income statement was 10.1021 (2021: 10.1633).The following tables demonstrate the sensitivity to a reasonably possible change in SEK and EUR exchange rates, with all other variables held constant. The Group\u2019s exposure to foreign currency changes for all other currencies is not material.b. Interest rate riskThe Group has interest-bearing debt as described in note 19. The Group has a loan agreement with Danske Bank, a 5-year bond, and operational and financial leases being interest-bearing. The total cash position nets off some of the interest rate risk. The NOK 600 million bond issued in September 2021 carries an interest of 3 months NIBOR + 4% until maturity 13 September 2024. The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period using an interest rate swap. The bond creates an exposure to pay 3 months NIBOR interest on the NOK 600 million notional. The interest rate swap on the same notional creates an equal and opposite interest receipt and a fixed interest payment, therefore creating an exact offset for this transaction resulting in a net fixed interest payable of 1.838%. As the interest rate swap is based on the same notional, settlement dates and maturity as the bond, the hedge ratio is 100%. The fair value of the interest rate swap was NOK 15 million at year-end (2021: NOK -4 million), impacting OCI positively with NOK 15 million in 2022.(Amounts in NOK million)2022 2021 Change in SEK rate -5 % -5 %Effect on net income 23 4Effect on equity -15 -39Effect on net interest-bearing debt 8 4Change in EUR rate -5 % -5 %Effect on net income -5 -7Effect on equity -48 -35Effect on net interest-bearing debt 9 19Net interest expense for 2022 amounts to NOK 57 million (2021 NOK 63 million). An increase in interest rate of 1 percentage point would have increased interest on debt by approximately NOK 9 million in 2022.Credit riskCredit risk in connection with sales to customers is managed within the subsidiaries, and at group level for major projects. Credit risk is monitored by the subsidiaries and at group level. The Group has guidelines for new contracts that focus on various elements, all of which shall contribute to early payments from the customer.79% of the revenues for 2022 were to customers that are municipalities or government agencies, or companies or institutions where municipalities or government agencies have a dominant influence. The Group considers the risk of potential future losses from this type of customer to be low. The Group has not entered any transactions that involve financial derivatives or other financial instruments to mitigate credit risks.As of 31 December 2022, the Group has provisions of NOK 7 million (2021: NOK 10 million) for potential future losses on specific trade receivables. The loss provision represents the total expected credit loss based on individual assessments of specific trade receivables at the reporting date. The age distribution of the Group\u2019s trade receivables is specified in Note 15.The maximum exposure to credit risk at the reporting date is the carrying value of each classof financial assets disclosed in note 23.Liquidity riskLiquidity risk is the risk that the Group will be unable to meet its financial obligations when they are due, and that financing will not be available at a reasonable price. The central management team and the local managers of subsidiaries monitor the Group\u2019s liquid resources and credit facilities through revolving forecasts based on the expected cash flow. The Group\u2019s operations are impacted by seasonal fluctuations, since a large portion of the Group\u2019s operations consist of railroad work. Railroad work is performed to a lesser extent in winter during frost and when the surface of the earth is covered in snow. The Group normally ties up working capital when the activity is increasing.The Group had NOK 672 million in liquid reserves at the end of the year, compared with NOK 826 million in liquid reserves at the end of the previous year. Restricted bank deposits totalled NOK 0 million (2021: NOK 0 million) and total cash were NOK 472 million (2021: NOK 626 million). Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. The Group has a multi-currency cash pool administrated by Danske Bank, increasing the availability to the cash reserves for almost all subsidiaries.Total short-term interest-bearing debt including leasing liabilities at the year-end that are due to be paid during 2023 amounts to NOK 328 million (2021: NOK 319 million to be paid in 2022).Moreover, the Group has total current liabilities excluding interest-bearing debt as of 31 December 2022, totalling NOK 1,445 million (2021: NOK 1,422 million). Total current assets amounted to NOK 1,927 million compared to NOK 2,013 million last year.Capital managementThe purpose of the Group\u2019s capital management is to ensure a predictable financial framework for operations and provide shareholders with a return according to our dividend policy.The Group\u2019s capital structure considers the required financial flexibility to execute strategic plans, to handle existing debt financing arrangements as well as working capital needs and to provide necessary funds for dividend payment. The long-term ambition is to have a leverage ratio below 2.5. The ratio at year end was 2.8. The Group manages its capital structure and makes changes based on an ongoing assessment of the current economic condition and the outlook for both the short and medium term. Capital management is amongst other monitored based on available cash and net interest-bearing debt, as well as the Group\u2019s leverage ratio, interest cover ratio and equityratio. For more information about capital management considerations, see separate section under liquidity risk above and note 19.Note 25:InventoriesAccounting policyInventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, first-out method. The cost of finished goods and work-in-progress comprises raw materials, direct labour, other direct costs and related production overheads (based on normal operating capacity). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. Inventory relates to the Finish operations. No write-downs have been made to inventory in 2022. Inventories have been pledged for short- and long-term loans, see note 22.(Amounts in NOK million)2022 2021Raw materials and materials for resale 21 15Finished goods 8 13Total inventories 29 28Note 26:Disputes and claims related to projectsThrough its ongoing operations, the Group is involved in disputes with customers regarding the interpretation and understanding of contracts and agreements. This applies in particular to complex and large projects where the contract terms can be challenging. The Group strives to resolve these kinds of disputes outside court whenever possible, but some cases may nevertheless have to be decided by arbitration or in court. Disputes can be the Group\u2019s claims on customers and/or customers\u2019 claims on the Group. Comprehensive assessments are conducted in connection with disputed claims to ensure the most correct revenue and/ or expense recognition. In 2022, the Group lost a lawsuit against the prior owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. The case has been appealed by the Group. At year-end the Group has no ongoing legal or arbitration proceedings that is assumed can have any significant negative effects on the Group\u2019s financial position.Note 27:Subsidiaries, associates and joint ventures The following directly and indirectly owned subsidiaries are included in the consolidated accounts. All entities are owned 100% unless otherwise noted.NRC Group Holding AS, NorwayNRC Norge Holding AS, Norway NRC Norge AS, Norway 1NRC Gravco AS, Norway1Septik Tank Co AS, NorwayNRC Kept AS (previously: Norsk Saneringsservice AS), NorwayGunnar Knutsen AS, NorwayAsker Milj\u00f8park AS, NorwayNRC Vedlikehold AS, NorwayNordic Railway Construction AB, Sweden Nordic Railway Construction Sweden AB, Sweden Signal & Banbyggarna i Dalarna AB, SwedenJ\u00e4rnv\u00e4gskonsulterna Bolln\u00e4s AB, Sweden2G\u00e4strike Signal & Projektering AB, SwedenBlom Sweden AB, SwedenNordic Railway Construction Underh\u00e5ll AB, SwedenNRC Holding Finland Oy, FinlandNRC Group Finland Oy, FinlandThe Group also has an investment in an associated company. The investment is accounted for according to the equity method. 1) NRC Gravco AS and Septik Tank Co AS have been disposed in Q1 2023.2) G\u00e4strike Signal & Projektering AB was 80% owned by NRC AB per 31 December 2022. The remaining 20% share was acquired in Q1 2023. Accounting policyAn associated company is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The Group\u2019s investments in associates are accounted for using the equity method.A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group\u2019s investments in joint venture are accounted for, using the equity method.Under the equity method, the investment is initially recognised at cost. The carrying amount of the investment is adjusted to recognise changes in the Group\u2019s share of net assets of the associate or joint venture since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate or joint venture. Any change in OCI of those investeesis presented as part of the Group\u2019s OCI. In addition, when there has been a change recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.The Group has a 20% interest sharing risks and rewards of two larger projects (E04 Station Haga, and E03 Kvarnberget) with Webuild (40%) and G\u00fclermak (40%) in connection with Station Haga in Gothenburg, through the associated company AGN Haga AB. The projects commenced during 2018/2019 and are complex with substantial risk. The Group is represented in the board of the company but is not operationally involved in any of the projects. In Q1 2023, AGN Haga AB received a termination notice from Trafikverket in relation to E04 Station Haga. The contract in relation to Kvarnberget (E03) is not part of the termination notice.Webuild, G\u00fclermak and Nordic Railway Construction Sverige AB have given surety to Trafikverket related to AGN Haga\u2019s execution of project E03 Kvarnberget.During 2022, NRC Group has made capital contribution of SEK 15 million to AGN Haga AB, representing NRC Group\u2019s pro-rata share of the total capital contributions, to support working capital in AGN Haga AB. Due to substantial uncertainty in the projects, all capital contributions of SEK 15.5 million have been impaired in 2022, and the book value of AGN Haga AB in the Group\u2019s annual accounts at 31 December 2022 is NOK 0 million. Due to the write-down to a book value of NOK 0 million, the share of net income from AGN Haga AB has not been recognised in NRC Group accounts.A summary of the financial information of AGN Haga AB, based on 100% figures:The associated company had no discontinued operations or other comprehensive income in2022 or 2021.(Amounts in NOK million)2022 2021Total revenue 1,413 1,204Net profit for the year 123 9The Group's calculated share of the net profit (20%) 25 2Provisions made in the Group accounts -25 -2The Group's reported share of the net profit 0 0Summary of financial information cont.(Amounts in NOK million)2022 2021Current assets 704 330Non-current assets 61 90Current liabilities 477 342Non-current liabilities 34 16Equity 253 62The Group's calculated share of equity (20%) 51 12Accumulated provisions made in the Group accounts -51 -12Book value 31.12 0 0Note 28:Related party disclosuresNote 27 provides information about the Group\u2019s structure, subsidiaries and associated companies. Note 17 provides information about the shareholders. No shareholders consider the Group as an associated company. Note 6 and 7 discloses the management and Board of Directors of the Group, including their benefits and any other transactions with the Group.NRC Group ASA may have agreements with Board members for consultancy services related to certain internal projects such as acquisitions and management recruitment. The agreements are based on hourly rates and are carried out on arm\u2019s length terms. Currently, there exists one agreement with Mats Williamson. Total expense amounted to NOK 0.2 million for 2022 based on hourly rates of SEK 1,500. Except for this, no significant related party transactions exist. Any related party transactions are carried out on arm\u2019s length terms.Note 29:Subsequent eventsOn 20 January 2023, an agreement to sell NRC Gravco AS and Septik Tank CO AS to Norva24 AS was completed. The transaction was made in accordance with NRC Group\u2019s strategy to focus on its core business, and the expected net proceeds of approximately NOK 110 million will further improve the financial and strategic flexibility and be used according to our NRC Group\u2019s capital allocation priorities. The net gain to be recognised is estimated to be approximately NOK 40 million and will be reported as part of \u201cother income and expenses\u201d in the Q1 report.AGN Haga, where NRC Group owns 20% of the shares, received on January 24, a termination notice from Trafikverket in relation to Station Haga in Gothenburg (E04). The contract in relation to Kvarnberget (E03) is not part of the termination notice. NRC Group is represented in the board of AGN Haga, without being operationally involved inthe projects. The book value of AGN Haga in the NRC Group\u2019s accounts is unchanged at NOK 0 million.On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern a reduction of annual instalments, a postponed final settlement date to 8 July 2024 and increased leverage ratio covenant with 0.25 for the period Q4 2022 until Q4 2023.Note 1: Note 2: Note 3: Note 4: Note 5: Note 6: Note 7: Note 8: Note 9: Note10: Note11: Note12: Note13: ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17847": {
"value": "NRC Group ASA ",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-9-2": {
"value": "The Group is a supplier of all rail, harbour and road related infrastructure services, including groundwork, specialised track work, safety, electro, telecom, signalling systems, maintenance and environmental services.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17893": {
"value": "public limited liability company ",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17899": {
"value": "Norway. ",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17907": {
"value": "Lysaker Torg 25, 1366 Lysaker, ",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17917": {
"value": "Norway. ",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f17918": {
"value": "Norway. ",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-2": {
"value": "1.2 Significant accounting principlesAccounting policies applied by the Group in the preparation of the consolidated financial statements are largely incorporated into the individual notes. General accounting principles are described below. The principles have been applied identically to the periods presented, unless otherwise stated.1.2.1 Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as approved by the EU.These consolidated financial statements have been prepared on the basis of the historical cost principle, except for certain financial instruments and contingent consideration that have been measured at fair value.The Group uses various alternative performance measures (APM) throughout the consolidated financial statements. The APMs are defined on page 202.1.2.2 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of 31 December 2022. Subsidiaries are companies where the Group has a controlling interest. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. A controlling interest is normally achieved when the Group owns, directly or indirectly, more than 50% of the voting shares in the target company. Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when such control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resultant gain or loss is recognised in profit or loss.All internal transactions, unsettled balances and unrealised gains between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction establishes an impairment for the transferred asset.1.2.3 Summary of significant accounting policiesCurrent versus non-current classification The Group presents assets and liabilities in the statement of financial position based on current/ non-current classification.An asset is current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle, held primarily for the purpose of trading or expected to be realised within twelve months after the reporting period. Cash or cash equivalent are current unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.A liability is current when it is expected to be settled in the normal operating cycle, it is held primarily for the purpose of trading or it is due to be settled within twelve months after the reporting period. The Group classifies all other liabilities as non-current, unless there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.Deferred tax assets and liabilities are classified as non-current assets and liabilities.Foreign currency translation Functional currency and presentation currencyThe accounts of the individual entities in the Group are measured in the currency that is used in the economic area where the Group entities operate (functional currency). The consolidated accounts are presented in Norwegian kroner (NOK), which is both the functional and presentation currency of the parent company.Transactions and balance sheet itemsTransactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. Foreign currency gains and losses that arise from the payment of such transactions and the translation of monetary items (assets and liabilities) at year-end, at the rates in effect on the balance sheet date, are recognised in the income statement. Currency gains and losses are presented on a net basisas financial income or financial expenses. If the foreign currency position is designated as a hedge of a net investment in a foreign business, any gains or losses are recognised in other comprehensive income.Translation to presentation currency In consolidation of the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month. Balance sheet items are translated at the exchange rate in effect on the balance sheet date. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. Translation differences on net investments in foreign operations are recognised in other comprehensive income. When a net investment is disposed of, the related cumulative amount of translation differences is reclassified to profit or loss.Goodwill and fair value adjustments of assets and liabilities associated with the acquisition of a foreign entity are treated as assets and liabilities in the acquired entity and translated at the rate in effect on the balance sheet date.Statement of Cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interests paid are presented as part of financing activities. 1.2.4 Changes in accounting policiesIn February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after 1 January 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The Group is currently revisiting their accounting policy information disclosures to ensure consistency with the amended requirements.There are not any other standards or interpretations that are not yet effective, that are expected to have a significant impact on the consolidated financial statements.1.3 Material accounting judgements, estimates and assumptions The preparation of financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosureof contingent liabilities. Estimates and assumptions are evaluated continuously based on historical experience and other factors, including expectations of future events that are regarded as probable under the current circumstances. Uncertainty about these estimates and assumptions could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.The most important areas where estimates and judgements are having an impact are listed below. Detailed information of these estimates and judgements are disclosed in therelevant notes.Significant estimates and judgements:Revenue from contracts with customers (Note 4)Impairment test of goodwill (Note 2 and 12)Purchase price allocation and accounting for contingent consideration in business combinations (Note 2)Recognition of deferred tax assets (Note 10)Covid-19 and the impacts of the global economyThe direct impact of global events such as the Covid-19 outbreaks, the war in Ukraine, the energy crisis in Europe and high inflation has been limited for the Group. The volatile global market may however impact on risks related to material prices, supply chain and government spending on infrastructure. NRC Group is actively managing the development and uncertainty.Climate riskNRC Group\u2019s activities mainly consist of projects that run over a limited period. The organisation is flexible to adapt to changes and each new project represents a new start. A large part of the Group\u2019s activities is to build environmentally friendly infrastructure that is aligned within the EU Taxonomy, as described in a separate section in the Group\u2019s Sustainability Report for 2022. This reduces the risk of significant negative changes in activities and markets due to climate change. There are no legal changes or expected changes in our markets that will have a significant impact on the Group\u2019s activities.NRC Group has limited operating assets and long-term leases that can be affected by environmental changes. The Group has a large car and machine park - owned and leased - that is gradually meeting new environmental requirements. Expected useful life and planned replacement rate for these assets are considered adaptable to the expected changes. The Group is already in the process of increasing the proportion of electrified machines and has also invested significantly in heavier vehicles that can run on biogas. Our largest tamping machines are rail-based and associated with environmentally friendly projects and are not expected to be adversely affected by climate change other than normal maintenance and adaptations. The Group has no significant immobile machines or facilities (stranded assets) that could be affected by climate change. There are no specific climate risks beyond normal project risks associated with the businessthat significantly can affect the impairment calculations. Significant changes because of climate risk have consequently not been necessary to include in the calculations.Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the assets that are contributed as consideration for the acquisition, equity instruments that are issued and liabilities that are assumed. Identifiable acquired assets, liabilities and contingent liabilities that are assumed to be inherent in a business combination are assessed at their fair value. For each business combination, the Group elects whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Direct expenses associated with the acquisition are expensed when they incur and presented as Other income and expenses.Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the acquisition date. Subsequent changes that are a result of additional information the Group obtained after that date about facts and circumstances that existed at the acquisition date are measurement period adjustments that will adjust the purchase price allocation until this is final but no later than 12 months after the acquisition day. Other changes resulting from events after the acquisition day, such as meeting earning targets, will be accounted for as follows:Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measuredat fair value with the changes in fair value recognised in the statement of profit or loss in accordance with IFRS 9 and presented as Other income and expenses.Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination.Accounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the executive management and the Board of Directors. The internal financial operating result reporting follows current IFRS standards as described in these notes to the Group accounts, except for Other income and expenses (M&A expenses). These income and expenses can vary significantly from period to period and are excluded in the internal financial reporting to improve the analysis of the underlying operations across periods and operating segments. The Group\u2019s financing (including finance costs and finance income) and income taxes are managed on a Group basis and are not allocated to operating segments. Transferpricing between operating segments is on an arm\u2019s length basis in a manner similar to transactions with third parties. Accounting policyThe Group\u2019s revenues mainly consist of contracts with customers that vary from shorter projects of less than a month, to longer projects running over multiple years. All projects are accounted for as contracts with customers, applying IFRS 15 Revenue from contracts with customers. The Group accounts for a contract with a customer when the contract is approved, each party\u2019s rights are identified including the payment terms, the contract has commercial substance, and it is probable that the Group will collect the consideration. Revenue recognised over timeFor a major part of the contracts with customers, the criteria for recognising revenue over time have been met as the project either creates an asset that the customer controls as the asset is created or the asset created does not have an alternative use and the Group has an enforceable right to payment for performance completed to date.The transaction price is the contractual agreed price. Any variable consideration is estimated based on the sum of probability-weighted amounts or the single most likely outcome, depending on which method better predicts the amount of consideration, and is consistently applied throughout the contract.For a performance obligation that is satisfied over time, revenue is recognised over time by measuring the cost passed in relation to full satisfaction of the obligation. The Group applies the input method which is used consistently for similar performance obligations and under similar circumstances. Using the input method, revenue is recognised based on the entity\u2019s input in fulfilling the performance obligation (e.g. contract costs incurred, resources consumed, hours expended) in relation to the total expected input to fulfil the performance obligation. The value and pricing of the Group\u2019s services are founded on the different resources consumed, and consequently the input method best reflects the revenue recognition of the transfer of goods and services. Most contracts of the Group consist of one performance obligation. For contracts where performance obligations are not satisfied over time, revenue is recognised on delivery or upon completion of the services.The aggregated amount of project revenue incurred to date, less progress billings, is determined on a project-by-project basis. The contracts where this amount is positive are presented in the balance sheet as contract assets, whereas the contracts where the amount is negative (prepayments) are presented as contract liabilities. Contract assets are the Group\u2019s right to consideration in exchange for goods or services that the entity has transferred to a customer. Unconditional rights to considerations based on the agreement are invoiced and presented separately as a receivable. Contract assets and receivables are considered for impairment in accordance with IFRS 9. A contract liability is when the Group has received prepayments or has an unconditional right to consideration before the Group has transferred goods or services to the customer.A contract modification is the change in scope and/ or price of a contract and both parties have approved a modification that either created new or changes existing enforceable rights and obligations of the parties. A contract modificationmay exist even though there is a dispute about the scope and/ or price of the modification, or the parties have approved a change in the scope of the contract but have not yet determined the corresponding change in price. The contract modification is accounted for as a separate contract, if the scope of the contract increases due to distinct goods or services and the price increase reflects the stand-alone selling price, or as part of the original contract.Contract costs are costs to fulfil the contract and incremental costs of obtaining a contract. These are costs directly related to the contract assuming the costs generate or enhance resources of the entity that will be used in satisfying (or in continuing to satisfy) performance obligations in the future and are expected to be recovered. Costs directly connected to the contract include direct materials, direct labour, subcontractors, allocated indirect costs and costs explicitly chargeable. Incremental cost of obtaining a contract that is expected to be recovered and that would not incur if the contract had not been obtained, is capitalised and amortised as a contract cost. Cost of wasted materials, labour or other resources to fulfil the contract that is not reflected in the price of the contract, is expensed as it occurs.When it is probable that the total contract costs of meeting the obligations will exceed total contract revenue, the expected loss is recognised as an expense immediately according to IAS 37, considering both the incremental costs and allocation of other costs directly related to fulfilling the contract. An impairment loss is recognised for any contract assets or accounts receivable related to the contract before a separate provision is made.Payment terms are contractually agreed and invoicing normally follows the progress of the projects either by a fixed estimated progress or based on actual progress as defined in the contract. For certain contracts a portion of up to 10% is withheld until final approval of the delivery. Upon invoicing, the payment terms would normally be within 15\u2013 45 days.Other revenuesThe Group has a limited number of other sales transactions such as sale of materials, sale of equipment and machines closely related to the main operations of the group or sale of services. Revenues from these transactions are recognised at the point of time when control of any asset is transferred to the customer, or the service is provided. Delivery of assets can be from stock, from a construction site or at the customer\u2019s location. The normal payment term is 15 to 45 days upon delivery.WarrantiesThe Group generally provides for warranties for general repairs and does not provide extended warranties in its contracts with customers. As such, existing warranties are assurance-type warranties under IFRS 15, which are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.Accounting policyEmployees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions). The sale of shares to employees at less than market price is accounted for by recognising the difference between the market value of the shares and the purchase price as a payrollexpense.The cost of equity-settled transactions is determined by the fair value of the option at the date when the grant is made. A Binominal model and the Black-Scholes model are used for the valuation. The cost related to the option is reported over the period in which the employees earn the right to receive the options. Option costs are reported as payroll expenses and offset as an increase in equity. A provision based on the accrued amount is made for employer\u2019s social security contribution to share option programmes linked to the difference between the issue price and the market price of the share at year end.Accounting policyIncome and expenses of a special nature are presented on a separate line within operating profit (loss). Such items are characterised by being transactions and events not being reliable indicators of underlying operations. Other income and expenses consist of M&A expenses, including subsequent adjustment of contingent considerations or other subsequent adjustments of final purchase price allocation in business combinations that are recognised in profit or loss.Accounting policyThe tax expense in the income statement consists of the tax payable for the period and the change in deferred tax. Tax is usually recognised in the income statement, except when it is related to items that are recognised in other comprehensive income, in discontinued operations or directly in equity, that also include the tax effect of those relevant transactions.The tax expense is calculated in accordance with the tax laws and regulations that have, or have essentially, been enacted by the tax authorities on the date of the balance sheet. It is the legislation in the countries where the Group\u2019s subsidiaries operate and generate taxable income that determine how the taxable income is calculated.Deferred tax is calculated for all temporary differences between tax values and carrying values of assets and liabilities. Deferred tax is determined by means of the tax rates and tax laws that have been enacted or substantially enacted on the balance sheet date, which are assumed to apply when the deferred tax asset is realised or when the deferred tax is settled.Deferred tax is not calculated for temporary differences from investments, except when the Group cannot control the timing of the reversal of the temporary differences, and it is probable that these will be reversed in the foreseeable future.Deferred tax assets are also recognised for unused tax losses and unused tax credits. Deferred tax assets are recognised to the extent that it is probable that taxable profit or deferred tax liabilities will be available against which the unused tax losses and unused tax credits can be utilised. The deferred tax assets are recognised to the extent it is probable that they can be utilised based on forecasts and projections within a reasonable period of time.In the balance sheet, deferred taxes are reported net if the Group has a legal right to offset deferred tax assets against deferred taxes and if the deferred taxes are owed to the same tax authority.Accounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Accounting policyProperty, plant and equipment are recognised at cost less accumulated depreciation and impairment loss. The cost of an item of property, plant and equipment includes costs that are directly attributable to the acquisition of the assets.Subsequent expenditure is recognised in the carrying amount of the asset, if it is probable that the future economic benefits related to the expenditure will flow to the Group, and the expenditure can be reliably measured. The carrying amount of any parts that are replaced is derecognised.All other repair and maintenance costs are recognised in the income statement in the period when the costs are incurred, except for certain regular major inspections as described below.Depreciation is calculated on a straight-line basis over the expected useful life of the asset, as follows:Buildings: 15 - 50 yearsMachinery and fixtures: 3 - 20 yearsThe economic life of the non-current assets and the residual value are reviewed on the date of each balance sheet and adjusted prospectively if required.An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses arising on derecognition of the asset are presented as part of the operating profit/loss and calculated as the difference between the net disposal proceeds and the carrying amount of the asset.If regular major inspections for faults or overhauls, regardless of whether parts of the item are replaced, is a condition of continuing to operate the equipment or to extend its economic lifetime, the related periodic maintenance can be capitalised and depreciated on a straight-line-basis until the next expected periodic maintenance is required. At the end of 2022, no such expenses were capitalised.Impairment considerationProperty, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Accounting policyThe Group leases various offices, warehouses, machinery, equipment and cars. Contracts are typically made for fixed periods of 3 to 10 years but may have extension and termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period based on the remaining balance of the liability for each period.The Group has elected to use the two exemptions proposed by the standard (IFRS 16) on the following contracts:Lease contracts with a duration of equal to or less than 12 monthsLease contracts for which the underlying asset has a low valuePayments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense over the lease term in profit or loss.Right-of-use assetsRight-of-use assets are recognised at cost less accumulated depreciation and impairment loss. Initial recognition of right-of-use assets are measured at cost comprising the following:the amount of the initial measurement of lease liabilityany lease payments made at or before the commencement date less any lease incentives received, any initial direct costs, andrestoration costsRight-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:Intangible assets 1-3 yearsLand, offices and buildings 1-12 years Machinery, cars and equipment 1-25 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are subject to impairment testing. Refer to section regarding Impairment.Lease liabilitiesLease liabilities include the net present value of the following lease payments:fixed payments less any lease incentives receivablevariable lease payment that are based on an index or a rateamounts expected to be payable by the lessee under residual value guaranteesthe exercise price of a purchase option if the lessee is reasonably certain to exercise that option, andpayments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee\u2019s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Options (extension / termination) on lease contracts are considered on a case-by-case basis following a regular management assessment. The borrowing rates used for IFRS 16 purposes have been defined based on the underlying countries and asset classes related risks. The Group\u2019s weighted average incremental borrowing rate is 2.71%.Impairment considerationRight-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Accounting policyCash and cash equivalents consist of cash, bank deposits and other short-term and highly liquid investments with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.Accounting policyExpenses that are directly attributable to the issue of new shares less taxes are recognised against the equity as a reduction in the proceeds.Payments for the purchase of own shares are recognised as a reduction in equityand proceeds from any sale as an increase. A loss or gain is not recognised in theincome statement for any purchase, sale, issue or cancellation of own shares.Accounting policyThe Group has several defined contribution plans. A defined contribution plan is a pension plan in which the Group pays fixed contributions to a separate entity (fund) and where the Group does not have any legal or constructive obligation to pay additional contributions if the fund does not have sufficient assets to pay all employees\u2019 benefits relating to their service in current and prior periods. The expense for each period is determined by the amounts of contributions for that period. Contributions paid in advance are recognised as an asset to the extent that the contribution can be refunded or be used to reduce future payments.The Group has a supplementary defined benefit post-employment plan in Finland, administrated by an external insurance company. Remeasurements of actuarial gains and losses on the net defined benefit liability and the return on plan assets, are recognised immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.Past service costs are recognised in profit or loss on the earlier of:The date of the plan amendment or curtailment, andThe date that the Group recognises related restructuring costsNet interest is calculated by applying the discount rate to the net defined benefit liability or asset and included in the net pension expense.The Group also has contractual retirement scheme (AFP) for a certain part of their employees in Norway. The AFP pension scheme is a defined benefit multi-employer plan that is financed though premiums paid by participating employers. Because the scheme\u2019s administrator is not providing information to identify the participating employer\u2019s share of financial position and performance with sufficient reliability, the AFP scheme is accounted for as a defined contribution scheme.Accounting policyClaims and disputes The Group recognises provisions when there is a present legal or constructive obligation as a result of past events, it is probable that the obligation will be settled by a transfer of economic resources, and a reliable estimate can be made of the amount of the obligation.Contingent liabilities are not recognised unless assumed in a business combination. Contingent liabilities assumed in a business combination are initially measured at fair value. Subsequently, it is measured at the higher of the best estimate of the expenditure required to settle the obligation and the amount initially recognised less (when appropriate) cumulative amortisation recognised in accordance with the requirements for revenue recognition.Warranty Provisions for warranty-related costs are recognised when the project is delivered to the customer. Initial recognition is based on historical experience. The initial estimateof warranty-related costs is revised annually.Accounting policyFinancial instrumentsFinancial assetsFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them.All material financial assets are measured at amortised cost. In general, financial assets are recognised initially at fair value plus transaction costs and are subsequently measured at amortised cost using the effective interest rate method, less provision for losses that have been incurred.At initial recognition, trade and other receivables that do not have a significant financing component are measured at their transaction price. Financial assets measured at amortised cost are financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that are solely payments of principal and interest on the principal amount outstanding. This category includes the Group\u2019s trade and other receivables, contract assets, any loans included under other non-current financial assets and cash and cash equivalents.For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses. The Group recognises a loss provision at each reporting date for the total expected credit loss based on individual assessments of specific trade receivables and contract assets.Financial assets are derecognised when the rights to receive cash flows from theasset have expired.Financial liabilitiesFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.Most relevant to the Group is loans and borrowings or payables and consists of current and non-current interest-bearing loans, lease liability and trade and other payables. Financial liabilities are recognised initially at fair value net of directly attributable transaction costs and are subsequently measured at amortised cost using the effective interest rate method. A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss. Loans are classified as current liabilities unless there is an unconditional right to defer payment of the debt by more than 12 months from the date of the balance sheet. Trade and other payables are classified as current if payment is due within one year or less. Otherwise, they are classified as non-current.Derivative financial instruments and hedge accounting The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risks and interest risk. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.For the purpose of hedge accounting, hedges are classified as:Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset orliability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitmentHedges of a net investment in a foreign operationAt the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.For cash flow hedges, the effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised as OCI while any gains or losses relating to the ineffective portion are recognised in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.Accounting policyInventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, first-out method. The cost of finished goods and work-in-progress comprises raw materials, direct labour, other direct costs and related production overheads (based on normal operating capacity). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. Accounting policyAn associated company is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The Group\u2019s investments in associates are accounted for using the equity method.A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group\u2019s investments in joint venture are accounted for, using the equity method.Under the equity method, the investment is initially recognised at cost. The carrying amount of the investment is adjusted to recognise changes in the Group\u2019s share of net assets of the associate or joint venture since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate or joint venture. Any change in OCI of those investeesis presented as part of the Group\u2019s OCI. In addition, when there has been a change recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-31-2": {
"value": "1.2.1 Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as approved by the EU.These consolidated financial statements have been prepared on the basis of the historical cost principle, except for certain financial instruments and contingent consideration that have been measured at fair value.The Group uses various alternative performance measures (APM) throughout the consolidated financial statements. The APMs are defined on page 202.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-41-2": {
"value": "1.2.2 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of 31 December 2022. Subsidiaries are companies where the Group has a controlling interest. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. A controlling interest is normally achieved when the Group owns, directly or indirectly, more than 50% of the voting shares in the target company. Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when such control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resultant gain or loss is recognised in profit or loss.All internal transactions, unsettled balances and unrealised gains between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction establishes an impairment for the transferred asset.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-57-3": {
"value": "Current versus non-current classification The Group presents assets and liabilities in the statement of financial position based on current/ non-current classification.An asset is current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle, held primarily for the purpose of trading or expected to be realised within twelve months after the reporting period. Cash or cash equivalent are current unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.A liability is current when it is expected to be settled in the normal operating cycle, it is held primarily for the purpose of trading or it is due to be settled within twelve months after the reporting period. The Group classifies all other liabilities as non-current, unless there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.Deferred tax assets and liabilities are classified as non-current assets and liabilities.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-73-3": {
"value": "Foreign currency translation Functional currency and presentation currencyThe accounts of the individual entities in the Group are measured in the currency that is used in the economic area where the Group entities operate (functional currency). The consolidated accounts are presented in Norwegian kroner (NOK), which is both the functional and presentation currency of the parent company.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-79-3": {
"value": "Transactions and balance sheet itemsTransactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. Foreign currency gains and losses that arise from the payment of such transactions and the translation of monetary items (assets and liabilities) at year-end, at the rates in effect on the balance sheet date, are recognised in the income statement. Currency gains and losses are presented on a net basisas financial income or financial expenses. If the foreign currency position is designated as a hedge of a net investment in a foreign business, any gains or losses are recognised in other comprehensive income.Translation to presentation currency In consolidation of the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month. Balance sheet items are translated at the exchange rate in effect on the balance sheet date. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. Translation differences on net investments in foreign operations are recognised in other comprehensive income. When a net investment is disposed of, the related cumulative amount of translation differences is reclassified to profit or loss.Goodwill and fair value adjustments of assets and liabilities associated with the acquisition of a foreign entity are treated as assets and liabilities in the acquired entity and translated at the rate in effect on the balance sheet date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-102-3": {
"value": "Statement of Cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interests paid are presented as part of financing activities. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-106-2": {
"value": "1.2.4 Changes in accounting policiesIn February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after 1 January 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The Group is currently revisiting their accounting policy information disclosures to ensure consistency with the amended requirements.There are not any other standards or interpretations that are not yet effective, that are expected to have a significant impact on the consolidated financial statements.1.3 Material accounting judgements, estimates and assumptions The preparation of financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosureof contingent liabilities. Estimates and assumptions are evaluated continuously based on historical experience and other factors, including expectations of future events that are regarded as probable under the current circumstances. Uncertainty about these estimates and assumptions could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.The most important areas where estimates and judgements are having an impact are listed below. Detailed information of these estimates and judgements are disclosed in therelevant notes.Significant estimates and judgements:Revenue from contracts with customers (Note 4)Impairment test of goodwill (Note 2 and 12)Purchase price allocation and accounting for contingent consideration in business combinations (Note 2)Recognition of deferred tax assets (Note 10)Covid-19 and the impacts of the global economyThe direct impact of global events such as the Covid-19 outbreaks, the war in Ukraine, the energy crisis in Europe and high inflation has been limited for the Group. The volatile global market may however impact on risks related to material prices, supply chain and government spending on infrastructure. NRC Group is actively managing the development and uncertainty.Climate riskNRC Group\u2019s activities mainly consist of projects that run over a limited period. The organisation is flexible to adapt to changes and each new project represents a new start. A large part of the Group\u2019s activities is to build environmentally friendly infrastructure that is aligned within the EU Taxonomy, as described in a separate section in the Group\u2019s Sustainability Report for 2022. This reduces the risk of significant negative changes in activities and markets due to climate change. There are no legal changes or expected changes in our markets that will have a significant impact on the Group\u2019s activities.NRC Group has limited operating assets and long-term leases that can be affected by environmental changes. The Group has a large car and machine park - owned and leased - that is gradually meeting new environmental requirements. Expected useful life and planned replacement rate for these assets are considered adaptable to the expected changes. The Group is already in the process of increasing the proportion of electrified machines and has also invested significantly in heavier vehicles that can run on biogas. Our largest tamping machines are rail-based and associated with environmentally friendly projects and are not expected to be adversely affected by climate change other than normal maintenance and adaptations. The Group has no significant immobile machines or facilities (stranded assets) that could be affected by climate change. There are no specific climate risks beyond normal project risks associated with the businessthat significantly can affect the impairment calculations. Significant changes because of climate risk have consequently not been necessary to include in the calculations.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-106-3": {
"value": "1.2.4 Changes in accounting policiesIn February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after 1 January 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The Group is currently revisiting their accounting policy information disclosures to ensure consistency with the amended requirements.There are not any other standards or interpretations that are not yet effective, that are expected to have a significant impact on the consolidated financial statements.1.3 Material accounting judgements, estimates and assumptions The preparation of financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosureof contingent liabilities. Estimates and assumptions are evaluated continuously based on historical experience and other factors, including expectations of future events that are regarded as probable under the current circumstances. Uncertainty about these estimates and assumptions could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.The most important areas where estimates and judgements are having an impact are listed below. Detailed information of these estimates and judgements are disclosed in therelevant notes.Significant estimates and judgements:Revenue from contracts with customers (Note 4)Impairment test of goodwill (Note 2 and 12)Purchase price allocation and accounting for contingent consideration in business combinations (Note 2)Recognition of deferred tax assets (Note 10)Covid-19 and the impacts of the global economyThe direct impact of global events such as the Covid-19 outbreaks, the war in Ukraine, the energy crisis in Europe and high inflation has been limited for the Group. The volatile global market may however impact on risks related to material prices, supply chain and government spending on infrastructure. NRC Group is actively managing the development and uncertainty.Climate riskNRC Group\u2019s activities mainly consist of projects that run over a limited period. The organisation is flexible to adapt to changes and each new project represents a new start. A large part of the Group\u2019s activities is to build environmentally friendly infrastructure that is aligned within the EU Taxonomy, as described in a separate section in the Group\u2019s Sustainability Report for 2022. This reduces the risk of significant negative changes in activities and markets due to climate change. There are no legal changes or expected changes in our markets that will have a significant impact on the Group\u2019s activities.NRC Group has limited operating assets and long-term leases that can be affected by environmental changes. The Group has a large car and machine park - owned and leased - that is gradually meeting new environmental requirements. Expected useful life and planned replacement rate for these assets are considered adaptable to the expected changes. The Group is already in the process of increasing the proportion of electrified machines and has also invested significantly in heavier vehicles that can run on biogas. Our largest tamping machines are rail-based and associated with environmentally friendly projects and are not expected to be adversely affected by climate change other than normal maintenance and adaptations. The Group has no significant immobile machines or facilities (stranded assets) that could be affected by climate change. There are no specific climate risks beyond normal project risks associated with the businessthat significantly can affect the impairment calculations. Significant changes because of climate risk have consequently not been necessary to include in the calculations.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-174-2": {
"value": "Note 2: Significant judgement and estimation uncertaintyEstimating the fair value of acquired assets, liabilities and contingent liabilities in a business combination requires significant management judgement. These calculations require the use of all facts and information available and how this will impact on the computations and will be sensitive to estimates related to future cash flows and discount rate.Estimating contingent consideration in a business combination including subsequent changes in the fair value require significant management judgement and need determination of all facts and information available and how this will impact on the calculations. The key assumption is to consider the most likely outcome based on the current state of the target.Business combinations in 2022The Group had no business combinations in 2022. A net cash outflow of NOK 24 million in 2022 is related to prior year acquisitions. Business combinations in 2021The Group had no business combinations in 2021. A net cash outflow of NOK 47 million in 2021 was related to prior year acquisitions. Note 3: Segment reporting",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-176-3": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the assets that are contributed as consideration for the acquisition, equity instruments that are issued and liabilities that are assumed. Identifiable acquired assets, liabilities and contingent liabilities that are assumed to be inherent in a business combination are assessed at their fair value. For each business combination, the Group elects whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Direct expenses associated with the acquisition are expensed when they incur and presented as Other income and expenses.Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the acquisition date. Subsequent changes that are a result of additional information the Group obtained after that date about facts and circumstances that existed at the acquisition date are measurement period adjustments that will adjust the purchase price allocation until this is final but no later than 12 months after the acquisition day. Other changes resulting from events after the acquisition day, such as meeting earning targets, will be accounted for as follows:Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measuredat fair value with the changes in fair value recognised in the statement of profit or loss in accordance with IFRS 9 and presented as Other income and expenses.Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-176-4": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the assets that are contributed as consideration for the acquisition, equity instruments that are issued and liabilities that are assumed. Identifiable acquired assets, liabilities and contingent liabilities that are assumed to be inherent in a business combination are assessed at their fair value. For each business combination, the Group elects whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Direct expenses associated with the acquisition are expensed when they incur and presented as Other income and expenses.Any contingent consideration to be transferred by the acquirer will be recognised at fair value at the acquisition date. Subsequent changes that are a result of additional information the Group obtained after that date about facts and circumstances that existed at the acquisition date are measurement period adjustments that will adjust the purchase price allocation until this is final but no later than 12 months after the acquisition day. Other changes resulting from events after the acquisition day, such as meeting earning targets, will be accounted for as follows:Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity.Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measuredat fair value with the changes in fair value recognised in the statement of profit or loss in accordance with IFRS 9 and presented as Other income and expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-208-3": {
"value": "Significant judgement and estimation uncertaintyEstimating the fair value of acquired assets, liabilities and contingent liabilities in a business combination requires significant management judgement. These calculations require the use of all facts and information available and how this will impact on the computations and will be sensitive to estimates related to future cash flows and discount rate.Estimating contingent consideration in a business combination including subsequent changes in the fair value require significant management judgement and need determination of all facts and information available and how this will impact on the calculations. The key assumption is to consider the most likely outcome based on the current state of the target.Significant judgement and estimation uncertaintyThe Group\u2019s business mainly consists of execution of projects. The complexity and scope of the project portfolio come with an inherent risk that the actual results may differ from expected results. The Group recognises revenue over time using contract costs incurred, resources consumed, or hours spent in relation to the total expected input to fulfil the performance obligation. For projects in progress, the uncertainty is mainly linked to the estimate of total expenses, the estimate of any variable proceeds, value of any project modifications being recognised and the impact of any disputes or contractual disagreements. As of 31 December 2022, the Group has recognised a total of NOK 12,526 million (2021: NOK 12,809 million) in accumulated revenue to date on projects in progress at year-end. Significant judgement and estimation uncertaintyDeferred tax assets of NOK 79 million in Norway and NOK 18 million in Sweden have been recognised as it is assumed probable that they can be utilised againstfuture taxable profit based on forecasts and projections. Deferred tax assets are recognised for unused tax losses to the extent that it is probable that deferred tax liability or taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits, together with future tax planning optimisation.Significant judgement and estimation uncertaintyThe Group performs annual tests to assess the impairment of goodwill, or more frequently if there is an indication of impairment. The NRC Group\u2019s share price development and operating losses in Sweden are impairment indicators being considered as part of the test. Goodwill had a carrying amount at 2022 year-end of NOK 2,716 million before impairment. In the impairment test the carrying amount is measured against the recoverable amount of the cash-generating unit to which the asset is allocated. The recoverable amount of cash generating units is determined by calculating its value in use. These calculations require the use of assumptions and estimates related to future cash flows and discount rate. The recoverable amount is sensitive to the discount rate used for the discounted cash flow model as well as the expected future net cash-inflows and the growth rate used for extrapolation purposes. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment. Most sensitive to further impairment is also our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows. Climate riskThe Group has considered climate risk in relation to impairment testing of goodwill. Climate-related matters can affect future cash flows, the value of the assets being tested and the expected useful life of these. Any consequences of this are considered in the impairment test of goodwill. No such effects were identified related to the impairment test in 2022 or 2021.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-229-3": {
"value": "Accounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the executive management and the Board of Directors. The internal financial operating result reporting follows current IFRS standards as described in these notes to the Group accounts, except for Other income and expenses (M&A expenses). These income and expenses can vary significantly from period to period and are excluded in the internal financial reporting to improve the analysis of the underlying operations across periods and operating segments. The Group\u2019s financing (including finance costs and finance income) and income taxes are managed on a Group basis and are not allocated to operating segments. Transferpricing between operating segments is on an arm\u2019s length basis in a manner similar to transactions with third parties. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-242-2": {
"value": "The Group is a contractor connected to public transportation, including rail, harbour and road related infrastructure. For management purposes, the Group is organised in divisions and operating segments based on geographical areas that include Norway, Finland and Sweden. In each operating segment the Group can provide services and products such as rail construction, rail maintenance, civil construction, environmental services and sale of materials.Customers that aggregate 10% or more of the Group\u2019s total revenues are disclosed in the table below: Share of segment revenueCustomer Segment 2022 2021Trafikverket Sweden 71% 72%Finnish Transport and Infrastructure Agency Finland 61% 54%Bane Nor Norway 34% 30%* Before other income and expenses (M&A expenses)Others and eliminations include activities in the Company and other holding companies as well as elimination of inter-segment revenues and expenses. Norway Sweden Finland Others and Consolidated eliminations(Amounts in NOK million)2022 2021 2022 2021 2022 2021 2022 2021 2022 2021External 2,571 1,864 1,877 1,453 2,582 2,640 0 0 7,030 5,957Inter-segment -198 -5 203 15 0 0 -5 -10 0 0Total revenue 2,373 1,859 2,080 1,468 2,582 2,640 -5 -10 7,030 5,957EBITDA* 173 120 -7 -17 204 265 -34 -32 335 336Depreciation 93 93 42 50 48 52 1 1 185 196EBITA* 80 27 -49 -67 155 213 -35 -32 151 139Amortisation and impairment 0 11 355 3 34 49 0 1 389 64EBIT* 80 16 -404 -71 121 164 -36 -33 -238 75Other income and expenses 0 10 0 18 1 5 1 1 2 34Operating profit 80 6 -404 -89 120 159 -36 -35 -240 42Current assets 456 423 289 272 1,148 1,127 48 190 1,939 2,013Non-current assets 1,232 1,143 432 866 1,488 1,472 99 93 3,279 3,574Total assets 1,688 1,566 721 1,139 2,636 2,599 147 283 5,218 5,587Current liabilities 759 635 625 549 1,237 1,199 -848 -643 1,772 1,741Non-current liabilities 290 253 17 41 215 363 584 567 1,106 1,225Total liabilities 1,048 888 642 590 1,452 1,563 -263 -75 2,879 2,965Order backlog 2,013 2,214 3,160 2,008 2,622 3,579 7,795 7,801Assets and liabilities are shown gross per segment and eliminations are shown separately. The aggregated information on Others and eliminations consists of the following:Parent and holding Eliminations Others and eliminationscompanies(Amounts in NOK million)2022 2021 2022 2021 2022 2021Current assets 2,182 2,118 -2,134 -1,927 48 190Non-current assets 242 375 -144 -282 99 93Total assets 2,424 2,493 -2,277 -2,209 147 283Current liabilities 1,286 1,285 -2,134 -1,927 -848 -643Non-current liabilities 728 846 -144 -278 584 567Total liabilities 2,014 2,130 -2,277 -2,206 -263 -75",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-259-2": {
"value": "Note 4:Revenues and projects in progressSignificant judgement and estimation uncertaintyThe Group\u2019s business mainly consists of execution of projects. The complexity and scope of the project portfolio come with an inherent risk that the actual results may differ from expected results. The Group recognises revenue over time using contract costs incurred, resources consumed, or hours spent in relation to the total expected input to fulfil the performance obligation. For projects in progress, the uncertainty is mainly linked to the estimate of total expenses, the estimate of any variable proceeds, value of any project modifications being recognised and the impact of any disputes or contractual disagreements. As of 31 December 2022, the Group has recognised a total of NOK 12,526 million (2021: NOK 12,809 million) in accumulated revenue to date on projects in progress at year-end. Revenue(Amounts in NOK million)2022 2021RevenueContract revenue recognised over time 6,365 5,351Other revenue 665 606Total revenue 7,030 5,957Revenue from public customers 5,565 4,205Revenue from private customers 1,465 1,752Total revenue 7,030 5,957* Before other income and expenses (M&A expenses)External revenue by nature of business by segmentNorway Sweden Finland Consolidated (Amounts in NOK million)2022 2021 2022 2021 2022 2021 2022 2021Rail construction 1,106 604 1,009 613 1,609 1,515 3,723 2,731Rail maintenance 0 0 508 560 540 609 1,048 1,168Civil construction 513 441 358 279 0 0 871 720Environment 957 819 0 0 0 0 957 819Materials 0 0 0 0 413 456 413 456Other and eliminations -5 0 2 2 20 61 18 62External revenue 2,571 1,864 1,877 1,453 2,582 2,640 7,030 5,957Revenue from public customers 1,556 1,000 1,706 1,109 2,304 2,096 5,565 4,205Revenue from private customers 1,015 864 171 344 278 544 1,465 1,752(Amounts in NOK million)2022 2021Contract costs plus profit less losses to date 12,526 12,809Less progress billings including advances 12,356 12,917Work in progress, net 170 -109Gross amounts due to customers for contract work (contract liabilities) 305 424Gross amounts due from customers for contract work (contract assets), see note 15 475 315Total contract value, ongoing contracts 18,224 19,911Accumulated revenue recognised at year-end 12,526 12,809Revenues not recognised 5,698 7,102Expected to be recognised next 12 months 3,740 4,101Expected to be recognised later 1,958 3,001OTHER INFORMATION 2022 2021Billed amounts retained by customers 24 13Provision for loss-making projects 15 17Remaining revenue on loss-making projects 180 68Order backlog, ongoing projects 5,698 7,102Order backlog, projects not started 2,097 699Total order backlog 7,795 7,801Expected to be recognised next year 3,740 4,101Expected to be recognised two years 1,647 2,532Expected to be recognised in three years or later 2,409 1,167",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-259-3": {
"value": "Note 4:Revenues and projects in progressSignificant judgement and estimation uncertaintyThe Group\u2019s business mainly consists of execution of projects. The complexity and scope of the project portfolio come with an inherent risk that the actual results may differ from expected results. The Group recognises revenue over time using contract costs incurred, resources consumed, or hours spent in relation to the total expected input to fulfil the performance obligation. For projects in progress, the uncertainty is mainly linked to the estimate of total expenses, the estimate of any variable proceeds, value of any project modifications being recognised and the impact of any disputes or contractual disagreements. As of 31 December 2022, the Group has recognised a total of NOK 12,526 million (2021: NOK 12,809 million) in accumulated revenue to date on projects in progress at year-end. Revenue(Amounts in NOK million)2022 2021RevenueContract revenue recognised over time 6,365 5,351Other revenue 665 606Total revenue 7,030 5,957Revenue from public customers 5,565 4,205Revenue from private customers 1,465 1,752Total revenue 7,030 5,957* Before other income and expenses (M&A expenses)External revenue by nature of business by segmentNorway Sweden Finland Consolidated (Amounts in NOK million)2022 2021 2022 2021 2022 2021 2022 2021Rail construction 1,106 604 1,009 613 1,609 1,515 3,723 2,731Rail maintenance 0 0 508 560 540 609 1,048 1,168Civil construction 513 441 358 279 0 0 871 720Environment 957 819 0 0 0 0 957 819Materials 0 0 0 0 413 456 413 456Other and eliminations -5 0 2 2 20 61 18 62External revenue 2,571 1,864 1,877 1,453 2,582 2,640 7,030 5,957Revenue from public customers 1,556 1,000 1,706 1,109 2,304 2,096 5,565 4,205Revenue from private customers 1,015 864 171 344 278 544 1,465 1,752(Amounts in NOK million)2022 2021Contract costs plus profit less losses to date 12,526 12,809Less progress billings including advances 12,356 12,917Work in progress, net 170 -109Gross amounts due to customers for contract work (contract liabilities) 305 424Gross amounts due from customers for contract work (contract assets), see note 15 475 315Total contract value, ongoing contracts 18,224 19,911Accumulated revenue recognised at year-end 12,526 12,809Revenues not recognised 5,698 7,102Expected to be recognised next 12 months 3,740 4,101Expected to be recognised later 1,958 3,001OTHER INFORMATION 2022 2021Billed amounts retained by customers 24 13Provision for loss-making projects 15 17Remaining revenue on loss-making projects 180 68Order backlog, ongoing projects 5,698 7,102Order backlog, projects not started 2,097 699Total order backlog 7,795 7,801Expected to be recognised next year 3,740 4,101Expected to be recognised two years 1,647 2,532Expected to be recognised in three years or later 2,409 1,167",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-261-3": {
"value": "Accounting policyThe Group\u2019s revenues mainly consist of contracts with customers that vary from shorter projects of less than a month, to longer projects running over multiple years. All projects are accounted for as contracts with customers, applying IFRS 15 Revenue from contracts with customers. The Group accounts for a contract with a customer when the contract is approved, each party\u2019s rights are identified including the payment terms, the contract has commercial substance, and it is probable that the Group will collect the consideration. Revenue recognised over timeFor a major part of the contracts with customers, the criteria for recognising revenue over time have been met as the project either creates an asset that the customer controls as the asset is created or the asset created does not have an alternative use and the Group has an enforceable right to payment for performance completed to date.The transaction price is the contractual agreed price. Any variable consideration is estimated based on the sum of probability-weighted amounts or the single most likely outcome, depending on which method better predicts the amount of consideration, and is consistently applied throughout the contract.For a performance obligation that is satisfied over time, revenue is recognised over time by measuring the cost passed in relation to full satisfaction of the obligation. The Group applies the input method which is used consistently for similar performance obligations and under similar circumstances. Using the input method, revenue is recognised based on the entity\u2019s input in fulfilling the performance obligation (e.g. contract costs incurred, resources consumed, hours expended) in relation to the total expected input to fulfil the performance obligation. The value and pricing of the Group\u2019s services are founded on the different resources consumed, and consequently the input method best reflects the revenue recognition of the transfer of goods and services. Most contracts of the Group consist of one performance obligation. For contracts where performance obligations are not satisfied over time, revenue is recognised on delivery or upon completion of the services.The aggregated amount of project revenue incurred to date, less progress billings, is determined on a project-by-project basis. The contracts where this amount is positive are presented in the balance sheet as contract assets, whereas the contracts where the amount is negative (prepayments) are presented as contract liabilities. Contract assets are the Group\u2019s right to consideration in exchange for goods or services that the entity has transferred to a customer. Unconditional rights to considerations based on the agreement are invoiced and presented separately as a receivable. Contract assets and receivables are considered for impairment in accordance with IFRS 9. A contract liability is when the Group has received prepayments or has an unconditional right to consideration before the Group has transferred goods or services to the customer.A contract modification is the change in scope and/ or price of a contract and both parties have approved a modification that either created new or changes existing enforceable rights and obligations of the parties. A contract modificationmay exist even though there is a dispute about the scope and/ or price of the modification, or the parties have approved a change in the scope of the contract but have not yet determined the corresponding change in price. The contract modification is accounted for as a separate contract, if the scope of the contract increases due to distinct goods or services and the price increase reflects the stand-alone selling price, or as part of the original contract.Contract costs are costs to fulfil the contract and incremental costs of obtaining a contract. These are costs directly related to the contract assuming the costs generate or enhance resources of the entity that will be used in satisfying (or in continuing to satisfy) performance obligations in the future and are expected to be recovered. Costs directly connected to the contract include direct materials, direct labour, subcontractors, allocated indirect costs and costs explicitly chargeable. Incremental cost of obtaining a contract that is expected to be recovered and that would not incur if the contract had not been obtained, is capitalised and amortised as a contract cost. Cost of wasted materials, labour or other resources to fulfil the contract that is not reflected in the price of the contract, is expensed as it occurs.When it is probable that the total contract costs of meeting the obligations will exceed total contract revenue, the expected loss is recognised as an expense immediately according to IAS 37, considering both the incremental costs and allocation of other costs directly related to fulfilling the contract. An impairment loss is recognised for any contract assets or accounts receivable related to the contract before a separate provision is made.Payment terms are contractually agreed and invoicing normally follows the progress of the projects either by a fixed estimated progress or based on actual progress as defined in the contract. For certain contracts a portion of up to 10% is withheld until final approval of the delivery. Upon invoicing, the payment terms would normally be within 15\u2013 45 days.Other revenuesThe Group has a limited number of other sales transactions such as sale of materials, sale of equipment and machines closely related to the main operations of the group or sale of services. Revenues from these transactions are recognised at the point of time when control of any asset is transferred to the customer, or the service is provided. Delivery of assets can be from stock, from a construction site or at the customer\u2019s location. The normal payment term is 15 to 45 days upon delivery.WarrantiesThe Group generally provides for warranties for general repairs and does not provide extended warranties in its contracts with customers. As such, existing warranties are assurance-type warranties under IFRS 15, which are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-374-2": {
"value": "Note 5:Salaries and personnel costs(Amounts in NOK million)2022 2021Salaries 1,274 1,268Social security taxes 178 187Pension expenses 141 145Other personnel costs 53 48Tota l 1,646 1,649Note 6:Executive personnelCompensation to executive personnel and Board of Directors(Amounts in NOK million)2022 2021Short-term employee benefits 27 21Post-employment benefits 2 2Share-based compensation 1 1Remuneration Board of Directors 2 3Total compensation to executive personnel 32 27More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report prepared in accordance with the Norwegian Public Limited Liability Companies Act \u00a7 6-16b. The report for the financial year 2022 will be published on the Group\u2019s website subsequent to the general assembly. Note 7:Share-based payments General Employee Share Programme During 2022 and same as in 2021, the Group gave employees the opportunity to purchase a certain number of shares at 20% discount to the trading price at exercise. The expenses recognised for equity-settled share-based payment transactions for employee services received during the year are shown in the following table:(Amounts in NOK million)2022 2021Senior Management Share Option Plan 1.3 0.8Key Employee Share Option Programme 1.6 1.0General Employee Share Programme 1.1 1.1Tota l 4.0 3.0The discount is recorded as salaries. On 8 June 2022, a total of 254,960 shares were sold under this offer with a total discount of approximately NOK 1.0 million before social security tax. All the shares sold were treasury shares.Senior Management Share Option Plan On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of a share option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms.Options are awarded based on the Group\u2019s achievements of certain quantitative and qualitative goals determined by the Board of Directors. The options can be vested over a period of three years, with 1/3 of the aggregate number each year. Options that are not exercised during, or on the date of final expiry of the vesting period, lapse without compensation to its holder.At year-end, a total of 476,000 options were outstanding in connection with the Senior Management Option programme. 444,000 new options were formally granted, no options were exercised, and 89,125 options were forfeited during 2022. The weighted average exercise price of the remaining 476,000 options is NOK 20.75. 25,000 of the options expire in March 2023. 78,000 of the options expire in March 2024 and can be vested by 1/3 each year from March 2022 until expiry. 373,000 of the options expire in March 2025. These options can be vested by 1/3 each year from March 2023 until expiry.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options. Share option programme for key employeesOn 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of a share option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with this option programme. The authorisation is valid for a period of two years until 5 May 2024. The Board of Directors is authorised to increase the share capital and to determine the subscription price and other subscription terms.As per year-end, a total of 202,500 options are outstanding in connection with the option programme from 2020. The options can be vested over a period of 12 months from 1 June 2023 at a strike price of NOK 26.54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 65,500 options were forfeited during 2022 due to vesting conditions not being satisfied.As per year-end, a total of 5,000 options are outstanding in connection with the option programme from 2021. The options can be vested over a period of 12 months from 1 April 2024 at a strike price of NOK 26,54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employee paid the equivalent of NOK 1 for each option. No options were forfeited during 2022.742,500 options were granted for the key employee programme in 2022. The options can be vested over a period of 12 months from 1 July 2025 at a strike price of NOK 18.64. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 52,500 options were forfeited during 2022.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options.The following table summarises the number and weighted average exercise prices (WAEP) of share options for all existing plans during the year, including any movements:2022 2022 2021 2021 numberWAEPnumberWAEPOutstanding at 1 January 557,625 35.9 787,125 42.9Granted during the year 1,186,500 18.4 113,000 27.8Exercised during the year 0 0 0 0Forfeited during the year -284,625 33.2 342,500 49.5Outstanding at 31 December 1,459,500 20.9 557,625 35.9Exercisable at 31 December 201,333 23.0 129,750 65.9WAEP will be adjusted for any dividend in the period from grant to exercise.The weighted average remaining contractual life for the share options outstanding as of 31 December 2022 was 3.0 years (2021: 2.3 years).The weighted average fair value of options granted during the year was NOK 6.68 per option. Total value of these options aggregated NOK 5.5 million to be allocated over the service period assumed in the option programme.The range of exercise prices for options outstanding at the end of the year was NOK 17.70 to NOK 85.78 (2021: NOK 26.54 to NOK 85.78), before any adjustment for future dividends.The following tables list the inputs to the models used for all existing plans:Dividend is not considered as the strike price will be adjusted for any dividends paid from thetime of the establishment of the programme until options are exercised. Expected volatility is based on actual volatility 36 months back in time. 2022 2021Weighted average fair values at the measurement date 6.60 8.38Expected volatility (%) 50.0 50.0Risk\u2013free interest rate (%) 2.77 0.77Expected life of share options, months 12-42 9-51Weighted average share price 27.51 44.32Model used Binominal and Black Scholes Binominal and Black ScholesNote 18:PensionsThe Group has defined contribution plans covering all employees in Norway, Sweden and Finland. In Norway, the Group also has contractual retirement scheme (AFP) for a certain part of their employees accounted for as a defined contribution scheme. AFP premiums for 2022 are fixed at 2.6% of salary up to approximately NOK 0.8 million. In Finland, the Group has a defined benefit plan related to a supplementary old age pension scheme in an insurance company.(Amounts in NOK million)2022 2021Pension expensesDefined contribution plans 137 140Defined benefit plans 0 1Contractual pension, multi-employer plan, Norway 4 4Total pension expenses 141 145Number of employees coveredDefined contribution plans 1.907 1,840Defined benefit plans, active 37 70Defined benefit plans, pensioners 374 398Early retirement scheme, Norway (AFP) 391 339Defined benefit expensesDefined benefit plan, net expense 0 1Actuarial gain and losses recognised in OCI, net of tax -6 4Recognised in total comprehensive income -6 5Defined benefit obligationDefined benefit obligation 1 January 91 101Current service cost - 1Interest cost - 0Benefits paid -8 -9Actuarial gain (+)/ losses (-) -25 3Curtailment - -Currency differences 3 -5Defined benefit obligation 31 December 61 91SensitivityChange in discount rate with 0.50 percentage point will change net pension liability with approximately NOK 1 million. Change in benefit or bonus index with 0.50 percentage point will change net pension liability with approximately NOK 2 million.(Amounts in NOK million)2022 2021Plan assetsPlan assets 1 January 75 90Interest income - 0Contribution paid - 1Benefits paid -8 -9Actuarial gain (+)/ losses (-) -19 -3Curtailment - -Currency differences 4 -4Plan assets 31 December 52 75Net defined benefit liability 31 December 9 16(Amounts in NOK million)31.12.2022 31.12.2021Actuarial assumptionsDiscount rate 3.25% 0.40%Salary increase 3.70% 3.20%Inflation 2.50% 1.90%Mortality (TyEL) K2016 K2016Benefit increase 2.70% 2.00%Insurance company bonus index 0.25% 0.00%Turnover rate 3.00% 3.00%",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-374-3": {
"value": "Note 5:Salaries and personnel costs(Amounts in NOK million)2022 2021Salaries 1,274 1,268Social security taxes 178 187Pension expenses 141 145Other personnel costs 53 48Tota l 1,646 1,649Note 6:Executive personnelCompensation to executive personnel and Board of Directors(Amounts in NOK million)2022 2021Short-term employee benefits 27 21Post-employment benefits 2 2Share-based compensation 1 1Remuneration Board of Directors 2 3Total compensation to executive personnel 32 27More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report prepared in accordance with the Norwegian Public Limited Liability Companies Act \u00a7 6-16b. The report for the financial year 2022 will be published on the Group\u2019s website subsequent to the general assembly. Note 7:Share-based payments General Employee Share Programme During 2022 and same as in 2021, the Group gave employees the opportunity to purchase a certain number of shares at 20% discount to the trading price at exercise. The expenses recognised for equity-settled share-based payment transactions for employee services received during the year are shown in the following table:(Amounts in NOK million)2022 2021Senior Management Share Option Plan 1.3 0.8Key Employee Share Option Programme 1.6 1.0General Employee Share Programme 1.1 1.1Tota l 4.0 3.0The discount is recorded as salaries. On 8 June 2022, a total of 254,960 shares were sold under this offer with a total discount of approximately NOK 1.0 million before social security tax. All the shares sold were treasury shares.Senior Management Share Option Plan On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of a share option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms.Options are awarded based on the Group\u2019s achievements of certain quantitative and qualitative goals determined by the Board of Directors. The options can be vested over a period of three years, with 1/3 of the aggregate number each year. Options that are not exercised during, or on the date of final expiry of the vesting period, lapse without compensation to its holder.At year-end, a total of 476,000 options were outstanding in connection with the Senior Management Option programme. 444,000 new options were formally granted, no options were exercised, and 89,125 options were forfeited during 2022. The weighted average exercise price of the remaining 476,000 options is NOK 20.75. 25,000 of the options expire in March 2023. 78,000 of the options expire in March 2024 and can be vested by 1/3 each year from March 2022 until expiry. 373,000 of the options expire in March 2025. These options can be vested by 1/3 each year from March 2023 until expiry.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options. Share option programme for key employeesOn 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of a share option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with this option programme. The authorisation is valid for a period of two years until 5 May 2024. The Board of Directors is authorised to increase the share capital and to determine the subscription price and other subscription terms.As per year-end, a total of 202,500 options are outstanding in connection with the option programme from 2020. The options can be vested over a period of 12 months from 1 June 2023 at a strike price of NOK 26.54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 65,500 options were forfeited during 2022 due to vesting conditions not being satisfied.As per year-end, a total of 5,000 options are outstanding in connection with the option programme from 2021. The options can be vested over a period of 12 months from 1 April 2024 at a strike price of NOK 26,54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employee paid the equivalent of NOK 1 for each option. No options were forfeited during 2022.742,500 options were granted for the key employee programme in 2022. The options can be vested over a period of 12 months from 1 July 2025 at a strike price of NOK 18.64. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 52,500 options were forfeited during 2022.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options.The following table summarises the number and weighted average exercise prices (WAEP) of share options for all existing plans during the year, including any movements:2022 2022 2021 2021 numberWAEPnumberWAEPOutstanding at 1 January 557,625 35.9 787,125 42.9Granted during the year 1,186,500 18.4 113,000 27.8Exercised during the year 0 0 0 0Forfeited during the year -284,625 33.2 342,500 49.5Outstanding at 31 December 1,459,500 20.9 557,625 35.9Exercisable at 31 December 201,333 23.0 129,750 65.9WAEP will be adjusted for any dividend in the period from grant to exercise.The weighted average remaining contractual life for the share options outstanding as of 31 December 2022 was 3.0 years (2021: 2.3 years).The weighted average fair value of options granted during the year was NOK 6.68 per option. Total value of these options aggregated NOK 5.5 million to be allocated over the service period assumed in the option programme.The range of exercise prices for options outstanding at the end of the year was NOK 17.70 to NOK 85.78 (2021: NOK 26.54 to NOK 85.78), before any adjustment for future dividends.The following tables list the inputs to the models used for all existing plans:Dividend is not considered as the strike price will be adjusted for any dividends paid from thetime of the establishment of the programme until options are exercised. Expected volatility is based on actual volatility 36 months back in time. 2022 2021Weighted average fair values at the measurement date 6.60 8.38Expected volatility (%) 50.0 50.0Risk\u2013free interest rate (%) 2.77 0.77Expected life of share options, months 12-42 9-51Weighted average share price 27.51 44.32Model used Binominal and Black Scholes Binominal and Black ScholesNote 8:Other operating and administrative expenses Other income and expenses(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34Compensation to auditorsThe M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. EY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729Note 13:Property, plant and equipmentProperty, plant and equipment(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2022 15 169 184Translation differences 0 0 0Additions - 41 41Disposals - -8 -8Depreciation for the year - -33 -33Carrying amount as of 31/12/2022 15 169 184Total cost 20 374 394Accumulated depreciation -5 -205 -210Accumulated impairment - - -Carrying amount as of 31/12/2022 15 170 184Property, plant and equipment cont.(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2021 17 214 231Translation differences -1 -14 -15AcquisitionsAdditions 22 22Disposals -17 -17Depreciation for the year -1 -37 -38Carrying amount as of 31/12/2021 15 169 184Depreciation charge during the year:(Amounts in NOK million)2022 2021Intangible assets 0 1Land, offices and buildings 30 33Machinery, cars and equipment 121 124Total depreciation expense 151 158",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-374-4": {
"value": "Note 5:Salaries and personnel costs(Amounts in NOK million)2022 2021Salaries 1,274 1,268Social security taxes 178 187Pension expenses 141 145Other personnel costs 53 48Tota l 1,646 1,649Note 7:Share-based payments General Employee Share Programme During 2022 and same as in 2021, the Group gave employees the opportunity to purchase a certain number of shares at 20% discount to the trading price at exercise. The expenses recognised for equity-settled share-based payment transactions for employee services received during the year are shown in the following table:(Amounts in NOK million)2022 2021Senior Management Share Option Plan 1.3 0.8Key Employee Share Option Programme 1.6 1.0General Employee Share Programme 1.1 1.1Tota l 4.0 3.0The discount is recorded as salaries. On 8 June 2022, a total of 254,960 shares were sold under this offer with a total discount of approximately NOK 1.0 million before social security tax. All the shares sold were treasury shares.Senior Management Share Option Plan On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of a share option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms.Options are awarded based on the Group\u2019s achievements of certain quantitative and qualitative goals determined by the Board of Directors. The options can be vested over a period of three years, with 1/3 of the aggregate number each year. Options that are not exercised during, or on the date of final expiry of the vesting period, lapse without compensation to its holder.At year-end, a total of 476,000 options were outstanding in connection with the Senior Management Option programme. 444,000 new options were formally granted, no options were exercised, and 89,125 options were forfeited during 2022. The weighted average exercise price of the remaining 476,000 options is NOK 20.75. 25,000 of the options expire in March 2023. 78,000 of the options expire in March 2024 and can be vested by 1/3 each year from March 2022 until expiry. 373,000 of the options expire in March 2025. These options can be vested by 1/3 each year from March 2023 until expiry.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options. Share option programme for key employeesOn 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of a share option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with this option programme. The authorisation is valid for a period of two years until 5 May 2024. The Board of Directors is authorised to increase the share capital and to determine the subscription price and other subscription terms.As per year-end, a total of 202,500 options are outstanding in connection with the option programme from 2020. The options can be vested over a period of 12 months from 1 June 2023 at a strike price of NOK 26.54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 65,500 options were forfeited during 2022 due to vesting conditions not being satisfied.As per year-end, a total of 5,000 options are outstanding in connection with the option programme from 2021. The options can be vested over a period of 12 months from 1 April 2024 at a strike price of NOK 26,54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employee paid the equivalent of NOK 1 for each option. No options were forfeited during 2022.742,500 options were granted for the key employee programme in 2022. The options can be vested over a period of 12 months from 1 July 2025 at a strike price of NOK 18.64. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 52,500 options were forfeited during 2022.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options.The following table summarises the number and weighted average exercise prices (WAEP) of share options for all existing plans during the year, including any movements:2022 2022 2021 2021 numberWAEPnumberWAEPOutstanding at 1 January 557,625 35.9 787,125 42.9Granted during the year 1,186,500 18.4 113,000 27.8Exercised during the year 0 0 0 0Forfeited during the year -284,625 33.2 342,500 49.5Outstanding at 31 December 1,459,500 20.9 557,625 35.9Exercisable at 31 December 201,333 23.0 129,750 65.9WAEP will be adjusted for any dividend in the period from grant to exercise.The weighted average remaining contractual life for the share options outstanding as of 31 December 2022 was 3.0 years (2021: 2.3 years).The weighted average fair value of options granted during the year was NOK 6.68 per option. Total value of these options aggregated NOK 5.5 million to be allocated over the service period assumed in the option programme.The range of exercise prices for options outstanding at the end of the year was NOK 17.70 to NOK 85.78 (2021: NOK 26.54 to NOK 85.78), before any adjustment for future dividends.The following tables list the inputs to the models used for all existing plans:Dividend is not considered as the strike price will be adjusted for any dividends paid from thetime of the establishment of the programme until options are exercised. Expected volatility is based on actual volatility 36 months back in time. 2022 2021Weighted average fair values at the measurement date 6.60 8.38Expected volatility (%) 50.0 50.0Risk\u2013free interest rate (%) 2.77 0.77Expected life of share options, months 12-42 9-51Weighted average share price 27.51 44.32Model used Binominal and Black Scholes Binominal and Black ScholesNote 8:Other operating and administrative expenses Other income and expenses(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34Compensation to auditorsThe M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. EY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729Note 13:Property, plant and equipmentProperty, plant and equipment(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2022 15 169 184Translation differences 0 0 0Additions - 41 41Disposals - -8 -8Depreciation for the year - -33 -33Carrying amount as of 31/12/2022 15 169 184Total cost 20 374 394Accumulated depreciation -5 -205 -210Accumulated impairment - - -Carrying amount as of 31/12/2022 15 170 184Property, plant and equipment cont.(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2021 17 214 231Translation differences -1 -14 -15AcquisitionsAdditions 22 22Disposals -17 -17Depreciation for the year -1 -37 -38Carrying amount as of 31/12/2021 15 169 184Depreciation charge during the year:(Amounts in NOK million)2022 2021Intangible assets 0 1Land, offices and buildings 30 33Machinery, cars and equipment 121 124Total depreciation expense 151 158",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f22356": {
"value": "Full time equivalent employees 1,882 1,924\ue61f",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-378-4": {
"value": "Note 6:Executive personnelCompensation to executive personnel and Board of Directors(Amounts in NOK million)2022 2021Short-term employee benefits 27 21Post-employment benefits 2 2Share-based compensation 1 1Remuneration Board of Directors 2 3Total compensation to executive personnel 32 27More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report prepared in accordance with the Norwegian Public Limited Liability Companies Act \u00a7 6-16b. The report for the financial year 2022 will be published on the Group\u2019s website subsequent to the general assembly. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-387-5": {
"value": "Note 7:Share-based payments General Employee Share Programme During 2022 and same as in 2021, the Group gave employees the opportunity to purchase a certain number of shares at 20% discount to the trading price at exercise. The expenses recognised for equity-settled share-based payment transactions for employee services received during the year are shown in the following table:(Amounts in NOK million)2022 2021Senior Management Share Option Plan 1.3 0.8Key Employee Share Option Programme 1.6 1.0General Employee Share Programme 1.1 1.1Tota l 4.0 3.0The discount is recorded as salaries. On 8 June 2022, a total of 254,960 shares were sold under this offer with a total discount of approximately NOK 1.0 million before social security tax. All the shares sold were treasury shares.Senior Management Share Option Plan On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of a share option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms.Options are awarded based on the Group\u2019s achievements of certain quantitative and qualitative goals determined by the Board of Directors. The options can be vested over a period of three years, with 1/3 of the aggregate number each year. Options that are not exercised during, or on the date of final expiry of the vesting period, lapse without compensation to its holder.At year-end, a total of 476,000 options were outstanding in connection with the Senior Management Option programme. 444,000 new options were formally granted, no options were exercised, and 89,125 options were forfeited during 2022. The weighted average exercise price of the remaining 476,000 options is NOK 20.75. 25,000 of the options expire in March 2023. 78,000 of the options expire in March 2024 and can be vested by 1/3 each year from March 2022 until expiry. 373,000 of the options expire in March 2025. These options can be vested by 1/3 each year from March 2023 until expiry.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options. Share option programme for key employeesOn 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of a share option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with this option programme. The authorisation is valid for a period of two years until 5 May 2024. The Board of Directors is authorised to increase the share capital and to determine the subscription price and other subscription terms.As per year-end, a total of 202,500 options are outstanding in connection with the option programme from 2020. The options can be vested over a period of 12 months from 1 June 2023 at a strike price of NOK 26.54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 65,500 options were forfeited during 2022 due to vesting conditions not being satisfied.As per year-end, a total of 5,000 options are outstanding in connection with the option programme from 2021. The options can be vested over a period of 12 months from 1 April 2024 at a strike price of NOK 26,54. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employee paid the equivalent of NOK 1 for each option. No options were forfeited during 2022.742,500 options were granted for the key employee programme in 2022. The options can be vested over a period of 12 months from 1 July 2025 at a strike price of NOK 18.64. The strike price will be adjusted for any dividends paid from the time of the establishment of the programme until the options are exercised. The employees paid NOK 1 for each option. 52,500 options were forfeited during 2022.There were no settlement, cancellations, or modifications to the awards in 2022. Vesting condition is full time employment. The expense is accrued for over the service period for each group of options.The following table summarises the number and weighted average exercise prices (WAEP) of share options for all existing plans during the year, including any movements:2022 2022 2021 2021 numberWAEPnumberWAEPOutstanding at 1 January 557,625 35.9 787,125 42.9Granted during the year 1,186,500 18.4 113,000 27.8Exercised during the year 0 0 0 0Forfeited during the year -284,625 33.2 342,500 49.5Outstanding at 31 December 1,459,500 20.9 557,625 35.9Exercisable at 31 December 201,333 23.0 129,750 65.9WAEP will be adjusted for any dividend in the period from grant to exercise.The weighted average remaining contractual life for the share options outstanding as of 31 December 2022 was 3.0 years (2021: 2.3 years).The weighted average fair value of options granted during the year was NOK 6.68 per option. Total value of these options aggregated NOK 5.5 million to be allocated over the service period assumed in the option programme.The range of exercise prices for options outstanding at the end of the year was NOK 17.70 to NOK 85.78 (2021: NOK 26.54 to NOK 85.78), before any adjustment for future dividends.The following tables list the inputs to the models used for all existing plans:Dividend is not considered as the strike price will be adjusted for any dividends paid from thetime of the establishment of the programme until options are exercised. Expected volatility is based on actual volatility 36 months back in time. 2022 2021Weighted average fair values at the measurement date 6.60 8.38Expected volatility (%) 50.0 50.0Risk\u2013free interest rate (%) 2.77 0.77Expected life of share options, months 12-42 9-51Weighted average share price 27.51 44.32Model used Binominal and Black Scholes Binominal and Black Scholes",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-389-3": {
"value": "Accounting policyEmployees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions). The sale of shares to employees at less than market price is accounted for by recognising the difference between the market value of the shares and the purchase price as a payrollexpense.The cost of equity-settled transactions is determined by the fair value of the option at the date when the grant is made. A Binominal model and the Black-Scholes model are used for the valuation. The cost related to the option is reported over the period in which the employees earn the right to receive the options. Option costs are reported as payroll expenses and offset as an increase in equity. A provision based on the accrued amount is made for employer\u2019s social security contribution to share option programmes linked to the difference between the issue price and the market price of the share at year end.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-389-4": {
"value": "Accounting policyEmployees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions). The sale of shares to employees at less than market price is accounted for by recognising the difference between the market value of the shares and the purchase price as a payrollexpense.The cost of equity-settled transactions is determined by the fair value of the option at the date when the grant is made. A Binominal model and the Black-Scholes model are used for the valuation. The cost related to the option is reported over the period in which the employees earn the right to receive the options. Option costs are reported as payroll expenses and offset as an increase in equity. A provision based on the accrued amount is made for employer\u2019s social security contribution to share option programmes linked to the difference between the issue price and the market price of the share at year end.Accounting policyThe Group has several defined contribution plans. A defined contribution plan is a pension plan in which the Group pays fixed contributions to a separate entity (fund) and where the Group does not have any legal or constructive obligation to pay additional contributions if the fund does not have sufficient assets to pay all employees\u2019 benefits relating to their service in current and prior periods. The expense for each period is determined by the amounts of contributions for that period. Contributions paid in advance are recognised as an asset to the extent that the contribution can be refunded or be used to reduce future payments.The Group has a supplementary defined benefit post-employment plan in Finland, administrated by an external insurance company. Remeasurements of actuarial gains and losses on the net defined benefit liability and the return on plan assets, are recognised immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.Past service costs are recognised in profit or loss on the earlier of:The date of the plan amendment or curtailment, andThe date that the Group recognises related restructuring costsNet interest is calculated by applying the discount rate to the net defined benefit liability or asset and included in the net pension expense.The Group also has contractual retirement scheme (AFP) for a certain part of their employees in Norway. The AFP pension scheme is a defined benefit multi-employer plan that is financed though premiums paid by participating employers. Because the scheme\u2019s administrator is not providing information to identify the participating employer\u2019s share of financial position and performance with sufficient reliability, the AFP scheme is accounted for as a defined contribution scheme.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-491-4": {
"value": "Note 8:Other operating and administrative expenses Other income and expenses(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34The M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-491-5": {
"value": "Note 8:Other operating and administrative expenses Other income and expenses(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34Compensation to auditorsThe M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. EY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-491-6": {
"value": "Note 8:Other operating and administrative expenses Other income and expenses(Amounts in NOK million)2022 2021Travel expenses 73 69Office expenses 98 80External services 38 44Expenses related to machinery, cars and equipment 360 280Other operating and administrative expenses 134 185Tota l 702 658(Amounts in NOK million)2022 2021M&A expenses 2 34Total other income and expenses 2 34Compensation to auditorsThe M&A expenses in 2022 mainly relate to previous years\u2019 acquisitions in addition to incurred transaction expenses in 2022 in connection with the disposal of NRC Gravco AS and Septik Tank Co AS. The sale of these companies was completed in January 2023, and the net gain from the disposal will hence be booked in Q1 2023. The M&A expenses in 2021 were related to additional expenses for previous years\u2019 acquisitions. Approximately NOK 10 million were final bonus payments related to the acquisition of NRC Kept AS in 2018. The majority of the remaining expenses was related to legal costs and other provisions regarding a lost lawsuit against the previous owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. Stockholm\u2019s District Court judged NRC Group to pay the defendants litigation costs. The case has been appealed, but all cost is provided for. EY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-494-3": {
"value": "Accounting policyIncome and expenses of a special nature are presented on a separate line within operating profit (loss). Such items are characterised by being transactions and events not being reliable indicators of underlying operations. Other income and expenses consist of M&A expenses, including subsequent adjustment of contingent considerations or other subsequent adjustments of final purchase price allocation in business combinations that are recognised in profit or loss.Depreciation is calculated on a straight-line basis over the expected useful life of the asset, as follows:Buildings: 15 - 50 yearsMachinery and fixtures: 3 - 20 yearsThe economic life of the non-current assets and the residual value are reviewed on the date of each balance sheet and adjusted prospectively if required.An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses arising on derecognition of the asset are presented as part of the operating profit/loss and calculated as the difference between the net disposal proceeds and the carrying amount of the asset.If regular major inspections for faults or overhauls, regardless of whether parts of the item are replaced, is a condition of continuing to operate the equipment or to extend its economic lifetime, the related periodic maintenance can be capitalised and depreciated on a straight-line-basis until the next expected periodic maintenance is required. At the end of 2022, no such expenses were capitalised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-503-6": {
"value": "Compensation to auditorsEY was the Group\u2019s auditor for 2022 and 2021. The amounts are reported exclusive of VAT.(Amounts in NOK million)2022 2021Statutory audit fees 3.7 3.7Other assurance engagements 0.0 0.0Tax related services 0.0 0.1Other services 0.1 0.0Tota l 3.8 3.8",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-518-2": {
"value": "Note 9:Financial income and expenses(Amounts in NOK million)2022 2021Interest income 6 2Interest expenses -62 -65Net foreign currency gains/(losses) -1 -2Other net financial expense 0 -1Net financial items -58 -66",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-518-3": {
"value": "Note 9:Financial income and expenses(Amounts in NOK million)2022 2021Interest income 6 2Interest expenses -62 -65Net foreign currency gains/(losses) -1 -2Other net financial expense 0 -1Net financial items -58 -66",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-518-4": {
"value": "Note 9:Financial income and expenses(Amounts in NOK million)2022 2021Interest income 6 2Interest expenses -62 -65Net foreign currency gains/(losses) -1 -2Other net financial expense 0 -1Net financial items -58 -66",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-521-2": {
"value": "Note 10:Taxes The tax rates for Norway, Sweden and Finland are 22%, 20.6% and 20%, unchanged from 2021. No changes in tax rates are expected for 2023. The major components of income tax expense areTax related to other comprehensive incomeReconciliation of tax expense and accounting profit(Amounts in NOK million)2022 2021Current income tax charge 17 36Change in deferred tax 33 -33Tax expense/ income (-) 51 3(Amounts in NOK million)2022 2021Items that may be reclassified to profit and loss 4 5Items that will not be reclassified to profit and loss 1 -1Tax expense/ income (-) included in OCI 5 4(Amounts in NOK million)2022 2021Net income/ loss (-) before tax from continuing operations -313 -24Estimated tax on income before tax -63 -4Effect of permanent differences 78 9Effect of tax assets being (-)/ not being recognised 34 -1Other 2 -1Income tax expense/ income (-) 51 3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-523-3": {
"value": "Accounting policyThe tax expense in the income statement consists of the tax payable for the period and the change in deferred tax. Tax is usually recognised in the income statement, except when it is related to items that are recognised in other comprehensive income, in discontinued operations or directly in equity, that also include the tax effect of those relevant transactions.The tax expense is calculated in accordance with the tax laws and regulations that have, or have essentially, been enacted by the tax authorities on the date of the balance sheet. It is the legislation in the countries where the Group\u2019s subsidiaries operate and generate taxable income that determine how the taxable income is calculated.Deferred tax is calculated for all temporary differences between tax values and carrying values of assets and liabilities. Deferred tax is determined by means of the tax rates and tax laws that have been enacted or substantially enacted on the balance sheet date, which are assumed to apply when the deferred tax asset is realised or when the deferred tax is settled.Deferred tax is not calculated for temporary differences from investments, except when the Group cannot control the timing of the reversal of the temporary differences, and it is probable that these will be reversed in the foreseeable future.Deferred tax assets are also recognised for unused tax losses and unused tax credits. Deferred tax assets are recognised to the extent that it is probable that taxable profit or deferred tax liabilities will be available against which the unused tax losses and unused tax credits can be utilised. The deferred tax assets are recognised to the extent it is probable that they can be utilised based on forecasts and projections within a reasonable period of time.In the balance sheet, deferred taxes are reported net if the Group has a legal right to offset deferred tax assets against deferred taxes and if the deferred taxes are owed to the same tax authority.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-523-4": {
"value": "Accounting policyThe tax expense in the income statement consists of the tax payable for the period and the change in deferred tax. Tax is usually recognised in the income statement, except when it is related to items that are recognised in other comprehensive income, in discontinued operations or directly in equity, that also include the tax effect of those relevant transactions.The tax expense is calculated in accordance with the tax laws and regulations that have, or have essentially, been enacted by the tax authorities on the date of the balance sheet. It is the legislation in the countries where the Group\u2019s subsidiaries operate and generate taxable income that determine how the taxable income is calculated.Deferred tax is calculated for all temporary differences between tax values and carrying values of assets and liabilities. Deferred tax is determined by means of the tax rates and tax laws that have been enacted or substantially enacted on the balance sheet date, which are assumed to apply when the deferred tax asset is realised or when the deferred tax is settled.Deferred tax is not calculated for temporary differences from investments, except when the Group cannot control the timing of the reversal of the temporary differences, and it is probable that these will be reversed in the foreseeable future.Deferred tax assets are also recognised for unused tax losses and unused tax credits. Deferred tax assets are recognised to the extent that it is probable that taxable profit or deferred tax liabilities will be available against which the unused tax losses and unused tax credits can be utilised. The deferred tax assets are recognised to the extent it is probable that they can be utilised based on forecasts and projections within a reasonable period of time.In the balance sheet, deferred taxes are reported net if the Group has a legal right to offset deferred tax assets against deferred taxes and if the deferred taxes are owed to the same tax authority.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-556-3": {
"value": "Significant judgement and estimation uncertaintyDeferred tax assets of NOK 79 million in Norway and NOK 18 million in Sweden have been recognised as it is assumed probable that they can be utilised againstfuture taxable profit based on forecasts and projections. Deferred tax assets are recognised for unused tax losses to the extent that it is probable that deferred tax liability or taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits, together with future tax planning optimisation.Deferred tax(Amounts in NOK million)2022 2021Deferred tax relates to the following:Intangible assets -1 -5Property, plant and equipment -14 -14Right-of use assets -122 -111Net contract assets/receivables -9 -16Tax allocation reserve, Sweden -1 -5Tax losses carried forward 243 251Lease liabilities 114 105Pensions 3 4Other temporary differences 5 15Total deferred tax assets/ liabilities (-) 219 224Deferred tax assets not recognised -122 -88Net deferred tax assets/ liabilities (-) 97 135Reflected in the consolidated balance sheet as follows:Deferred tax assets 98 137Deferred tax liabilities -1 -2Net deferred tax assets/ liabilities (-) 97 135Total net deferred tax assets of NOK 97 million are split between NOK 79 million in Norway (2021: NOK 90 million) and NOK 18 million in Sweden (2021: NOK 47 million) and have been recognised as it is assumed probable that they can be utilised against future taxable profit based on forecasts and projections, or if needed in combination with tax planning opportunities. Sweden has suffered pre-tax losses recent years. Several measures have been implementedto restore profitability. Improvement programmes initiated in the second half of 2019 have been implemented and yielded improved results for the core divisions. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive operating income for the year. The results in Rail maintenance have also improved, contributing to positive operating income, and winning 4 maintenance contracts provides a solid outlook for this business. The total result in Sweden was however negative in 2022 due to losses in the Civil construction division. As a consequence of the losses in Civil construction, NRC Group will do a strategic review of the Civil operations and implement necessary actions to secure profitability in Sweden.Based on Management\u2019s assessment of future taxable profit and future tax optimisation, total deferred tax assets of NOK 122 million (2021: NOK 88 mill) in Sweden have not been recognised. In 2022 a net tax expense of NOK 36 million was recognised due to net increase in non-recognised deferred tax assets in Sweden.The net deferred tax liability of NOK 1 million relates to Finland.(Amounts in NOK million)2022 2021Reconciliation of net deferred tax assets/ liabilities (-)As of 1 January 135 105Tax income/ expense (-) during the period -33 33Tax income/ expense (-) during the period, recognised in OCI -5 -4Effect of foreign currency translation -1 -2Other 2 2As of 31 December 97 135The Group has total tax losses carried forward of NOK 443 million in Norway (2021: NOK 471 million) and NOK 708 million in Sweden (2021: NOK 715 million), that can be used to reduce future tax payments. There are no restrictions on the Group\u2019s ability to carry forward the tax losses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-602-2": {
"value": "Note 11:Earnings and diluted earnings per share: The earnings per share are calculated by dividing the disposable profit/loss for the year with the weighted average of ordinary shares issued throughout the year, less the Company\u2019s own shares. For the movement in the share capital of the Company see note 17.2022 2021Earnings per share (ordinary), NOK -4.98 -0.36Profit/loss for the year attributable to shareholders of the parent, NOK million -363 -26Weighted average externally owned shares 72,855,963 72,915,922Effect of dilution from share options 1,255,256 742,906Weighted average externally owned shares adjusted for dilution 74,111,219 73,658,828",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-608-2": {
"value": "Note 12:Intangible assetsSignificant judgement and estimation uncertaintyThe Group performs annual tests to assess the impairment of goodwill, or more frequently if there is an indication of impairment. The NRC Group\u2019s share price development and operating losses in Sweden are impairment indicators being considered as part of the test. Goodwill had a carrying amount at 2022 year-end of NOK 2,716 million before impairment. In the impairment test the carrying amount is measured against the recoverable amount of the cash-generating unit to which the asset is allocated. The recoverable amount of cash generating units is determined by calculating its value in use. These calculations require the use of assumptions and estimates related to future cash flows and discount rate. The recoverable amount is sensitive to the discount rate used for the discounted cash flow model as well as the expected future net cash-inflows and the growth rate used for extrapolation purposes. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment. Most sensitive to further impairment is also our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows. Climate riskThe Group has considered climate risk in relation to impairment testing of goodwill. Climate-related matters can affect future cash flows, the value of the assets being tested and the expected useful life of these. Any consequences of this are considered in the impairment test of goodwill. No such effects were identified related to the impairment test in 2022 or 2021.Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.Allocation of goodwill to cash generating unitsThe Group has allocated goodwill to each cash generating unit which corresponds to the geographical areas of the business units acquired. The carrying amount of goodwill is as follows:(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729(Amounts in NOK million)2022 2021Norway 778 778Sweden 255 623Finland 1,331 1,265Tota l 2,364 2,666The decrease in the carrying amount of goodwill in Sweden is due to an impairment of NOK 352 million in addition to currency effects. The increase in the carrying amount of goodwill related to Finland is entirely due to currency effects as NOK has weakened compared to EURduring 2022.The Group has made several acquisitions over the past years. These businesses are all within the existing business segments and they strengthen the Group\u2019s overall capabilities to undertake additional, larger and more complex projects. There is an ongoing process of reorganising the acquired companies. The business units acquired do no longer have cash inflows independent from other group companies or operations, and the expected benefit of the synergies from the combinations will be on country rather than company level. Due to this, the smallest group of assets generating cash inflows largely independent of cash inflows from other assets or group of assets, are the geographical areas Norway, Sweden and Finland respectively.Impairment tests of goodwill and other intangible assetsThe Group considers the relationship between its market capitalisation, carrying amounts and other factors when identifying indicators of impairment. During 2022, NRC Group\u2019s share price development and operating losses in Sweden were impairment indicators being considered as part of the test. The Group performs its annual impairment tests in the fourth quarter. Tests are carried out by comparing recoverable amount with carrying amount of the units to which goodwill is allocated. The recoverable amount is calculated based on the discounted estimated future cash flows before tax with the relevant discount rate (WACC).Estimated cash flows for the years 2023 \u2013 2027 are based on projections approved by the Board. Revenue growth in average per year used in the impairment tests were 2.2% in Norway, -3.5% in Sweden and 1,7% in Finland. The revenue growth assumptions are supported by the current order backlog and external information such as the tender pipelineand the transport plan in each country. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment following the negative Q4 results mainly caused by losses in the Civil construction division. Remaining goodwill related to the Swedish operations per 31 December 2022 is SEK 270 million. Restoring profitability in Sweden is the main priority for the Group. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive EBITA for the year. The results in Maintenance have also improved, contributing to positive EBITA results, and winning 4 maintenance contracts provides a solid outlook for this business. As a consequence of the losses in Civil construction, NRC Group will do a strategicreview of the Civil operations and implement necessary actions to secure profitability in Sweden. The discount rate before tax is 10.3% for Norway, 8.8% for Sweden and 9.4% for Finland. For the years subsequent to 2027, a terminal growth of the net cash flow of 2.95% in Norway, 1.67% in Sweden and 2.42% in Finland have been applied. Sensitivity The calculation of value in use is sensitive to the estimates of revenues, project margin, discount rate and terminal growth. Most sensitive to further impairment is our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December 2022. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows.The pre-tax discount rate applied in Sweden is 8.8%, and the assumption for terminal growth 1.67%. Small negative changes to the assumptions in the impairment model would lead to further impairment charges. An increase in the discount rate of 1.0% would lead to further impairment of SEK 85 million, while a terminal growth of zero would lead to an impairment of SEK 56 million. A decrease in the project margin of 0.5 percentage points in the terminal year would lead to an additional impairment loss of SEK 100 million. For Norway and Finland, no reasonably likely change in the key assumptions listed above would cause the carrying value to materially exceed the recoverable amount for any of the CGUs.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-610-3": {
"value": "Accounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-610-4": {
"value": "Accounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-610-5": {
"value": "Accounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Impairment considerationProperty, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Impairment considerationRight-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-610-6": {
"value": "Accounting policyGoodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is subject tominimum annual impairment testing.Intangible assets are recognised at cost less accumulated amortisation and impairment loss. Intangible assets are recognised when they are identifiable, controlled and provide future economic benefits for the entity. The assets are initially measured at cost and amortised on a straight-line basis over the expected useful life of the asset, normally 3-5 years. The cost of an intangible asset includes costs that are directly attributable to the procurement of the assets.Customer contracts, customer relationships, licenses and other intangible assets acquired as part of a business combination are recognised at their fair value at the date of acquisition and are subsequently amortised on a straight-line basis over their estimated useful lives based on the timing of projected cash flows, normally 1-4 years, depending on the type of assets. Intangible assets with indefinite useful life are subject to minimum annual impairment testing.Impairment considerationsGoodwill is recognised separately as an intangible asset and is tested for impairment annually and whenever there is indication that the goodwill may be impaired. The annual testing is performed towards the end of the financial year. For the purpose of impairment testing of goodwill, goodwill is allocated to each of the Group\u2019s cash-generating-units (CGU) expected to benefit from synergies arising from the business combination. An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU\u2019s fair value less cost to sell and value-in-use. The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognised as an expense and is not reversed in a subsequent period.Intangible assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Impairment considerationProperty, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.Impairment considerationRight-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-655-4": {
"value": "Significant judgement and estimation uncertaintyThe Group performs annual tests to assess the impairment of goodwill, or more frequently if there is an indication of impairment. The NRC Group\u2019s share price development and operating losses in Sweden are impairment indicators being considered as part of the test. Goodwill had a carrying amount at 2022 year-end of NOK 2,716 million before impairment. In the impairment test the carrying amount is measured against the recoverable amount of the cash-generating unit to which the asset is allocated. The recoverable amount of cash generating units is determined by calculating its value in use. These calculations require the use of assumptions and estimates related to future cash flows and discount rate. The recoverable amount is sensitive to the discount rate used for the discounted cash flow model as well as the expected future net cash-inflows and the growth rate used for extrapolation purposes. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment. Most sensitive to further impairment is also our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows. Climate riskThe Group has considered climate risk in relation to impairment testing of goodwill. Climate-related matters can affect future cash flows, the value of the assets being tested and the expected useful life of these. Any consequences of this are considered in the impairment test of goodwill. No such effects were identified related to the impairment test in 2022 or 2021.Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.Allocation of goodwill to cash generating unitsThe Group has allocated goodwill to each cash generating unit which corresponds to the geographical areas of the business units acquired. The carrying amount of goodwill is as follows:(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729(Amounts in NOK million)2022 2021Norway 778 778Sweden 255 623Finland 1,331 1,265Tota l 2,364 2,666The decrease in the carrying amount of goodwill in Sweden is due to an impairment of NOK 352 million in addition to currency effects. The increase in the carrying amount of goodwill related to Finland is entirely due to currency effects as NOK has weakened compared to EURduring 2022.The Group has made several acquisitions over the past years. These businesses are all within the existing business segments and they strengthen the Group\u2019s overall capabilities to undertake additional, larger and more complex projects. There is an ongoing process of reorganising the acquired companies. The business units acquired do no longer have cash inflows independent from other group companies or operations, and the expected benefit of the synergies from the combinations will be on country rather than company level. Due to this, the smallest group of assets generating cash inflows largely independent of cash inflows from other assets or group of assets, are the geographical areas Norway, Sweden and Finland respectively.Impairment tests of goodwill and other intangible assetsThe Group considers the relationship between its market capitalisation, carrying amounts and other factors when identifying indicators of impairment. During 2022, NRC Group\u2019s share price development and operating losses in Sweden were impairment indicators being considered as part of the test. The Group performs its annual impairment tests in the fourth quarter. Tests are carried out by comparing recoverable amount with carrying amount of the units to which goodwill is allocated. The recoverable amount is calculated based on the discounted estimated future cash flows before tax with the relevant discount rate (WACC).Estimated cash flows for the years 2023 \u2013 2027 are based on projections approved by the Board. Revenue growth in average per year used in the impairment tests were 2.2% in Norway, -3.5% in Sweden and 1,7% in Finland. The revenue growth assumptions are supported by the current order backlog and external information such as the tender pipelineand the transport plan in each country. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment following the negative Q4 results mainly caused by losses in the Civil construction division. Remaining goodwill related to the Swedish operations per 31 December 2022 is SEK 270 million. Restoring profitability in Sweden is the main priority for the Group. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive EBITA for the year. The results in Maintenance have also improved, contributing to positive EBITA results, and winning 4 maintenance contracts provides a solid outlook for this business. As a consequence of the losses in Civil construction, NRC Group will do a strategicreview of the Civil operations and implement necessary actions to secure profitability in Sweden. The discount rate before tax is 10.3% for Norway, 8.8% for Sweden and 9.4% for Finland. For the years subsequent to 2027, a terminal growth of the net cash flow of 2.95% in Norway, 1.67% in Sweden and 2.42% in Finland have been applied. Sensitivity The calculation of value in use is sensitive to the estimates of revenues, project margin, discount rate and terminal growth. Most sensitive to further impairment is our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December 2022. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows.The pre-tax discount rate applied in Sweden is 8.8%, and the assumption for terminal growth 1.67%. Small negative changes to the assumptions in the impairment model would lead to further impairment charges. An increase in the discount rate of 1.0% would lead to further impairment of SEK 85 million, while a terminal growth of zero would lead to an impairment of SEK 56 million. A decrease in the project margin of 0.5 percentage points in the terminal year would lead to an additional impairment loss of SEK 100 million. For Norway and Finland, no reasonably likely change in the key assumptions listed above would cause the carrying value to materially exceed the recoverable amount for any of the CGUs.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-655-5": {
"value": "Significant judgement and estimation uncertaintyThe Group performs annual tests to assess the impairment of goodwill, or more frequently if there is an indication of impairment. The NRC Group\u2019s share price development and operating losses in Sweden are impairment indicators being considered as part of the test. Goodwill had a carrying amount at 2022 year-end of NOK 2,716 million before impairment. In the impairment test the carrying amount is measured against the recoverable amount of the cash-generating unit to which the asset is allocated. The recoverable amount of cash generating units is determined by calculating its value in use. These calculations require the use of assumptions and estimates related to future cash flows and discount rate. The recoverable amount is sensitive to the discount rate used for the discounted cash flow model as well as the expected future net cash-inflows and the growth rate used for extrapolation purposes. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment. Most sensitive to further impairment is also our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows. Climate riskThe Group has considered climate risk in relation to impairment testing of goodwill. Climate-related matters can affect future cash flows, the value of the assets being tested and the expected useful life of these. Any consequences of this are considered in the impairment test of goodwill. No such effects were identified related to the impairment test in 2022 or 2021.Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729Impairment tests of goodwill and other intangible assetsThe Group considers the relationship between its market capitalisation, carrying amounts and other factors when identifying indicators of impairment. During 2022, NRC Group\u2019s share price development and operating losses in Sweden were impairment indicators being considered as part of the test. The Group performs its annual impairment tests in the fourth quarter. Tests are carried out by comparing recoverable amount with carrying amount of the units to which goodwill is allocated. The recoverable amount is calculated based on the discounted estimated future cash flows before tax with the relevant discount rate (WACC).Estimated cash flows for the years 2023 \u2013 2027 are based on projections approved by the Board. Revenue growth in average per year used in the impairment tests were 2.2% in Norway, -3.5% in Sweden and 1,7% in Finland. The revenue growth assumptions are supported by the current order backlog and external information such as the tender pipelineand the transport plan in each country. In 2022, an impairment charge of SEK 370 million was made to the Sweden segment following the negative Q4 results mainly caused by losses in the Civil construction division. Remaining goodwill related to the Swedish operations per 31 December 2022 is SEK 270 million. Restoring profitability in Sweden is the main priority for the Group. The Swedish Rail construction division improved during 2022, with strong growth in revenue and a positive EBITA for the year. The results in Maintenance have also improved, contributing to positive EBITA results, and winning 4 maintenance contracts provides a solid outlook for this business. As a consequence of the losses in Civil construction, NRC Group will do a strategicreview of the Civil operations and implement necessary actions to secure profitability in Sweden. The discount rate before tax is 10.3% for Norway, 8.8% for Sweden and 9.4% for Finland. For the years subsequent to 2027, a terminal growth of the net cash flow of 2.95% in Norway, 1.67% in Sweden and 2.42% in Finland have been applied. Sensitivity The calculation of value in use is sensitive to the estimates of revenues, project margin, discount rate and terminal growth. Most sensitive to further impairment is our operations in Sweden with a remaining book value of goodwill of SEK 270 million as of 31 December 2022. The remaining goodwill is most sensitive to changes in the discount rate and the estimated future cash flows.The pre-tax discount rate applied in Sweden is 8.8%, and the assumption for terminal growth 1.67%. Small negative changes to the assumptions in the impairment model would lead to further impairment charges. An increase in the discount rate of 1.0% would lead to further impairment of SEK 85 million, while a terminal growth of zero would lead to an impairment of SEK 56 million. A decrease in the project margin of 0.5 percentage points in the terminal year would lead to an additional impairment loss of SEK 100 million. For Norway and Finland, no reasonably likely change in the key assumptions listed above would cause the carrying value to materially exceed the recoverable amount for any of the CGUs.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-678-7": {
"value": "Goodwill and other intangible assetsOther intangible assets partly consist of customer contracts, customer relationships, IT licenses and IT software capitalised as part of the purchase price allocation of acquisitions. Further, it consists of capitalised software development expenses and capitalised pre-contract expenses. Other intangible assets are amortised over the expected useful life of 1 \u2013 5 years.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 01/01/2022 2,666 63 2,729Translation differences 50 3 53Additions and adjustments 0 4 4Amortisation for the year 0 -38 -38Impairment for the year -352 0 -352Carrying amount as at 31/12/2022 2,364 32 2,396Acquisition cost 2,716 274 2,990Accumulated amortisation 0 -236 -236Accumulated impairment -352 -6 -358Carrying amount as at 31/12/2022 2,364 32 2,396Goodwill and other intangible assets cont.(Amounts in NOK million)Goodwill Other Tot a lintangible assetsCarrying amount as at 1/1/2021 2,780 115 2,895Translation differences -104 -3 -108AcquisitionsAdditions and adjustments 0 6 6DisposalsAmortisation for the year 0 -55 -55Impairment for the year -9 0 -9Carrying amount as at 31/12/2021 2,666 63 2,729Acquisition cost 2,675 317 2,992Accumulated amortisation 0 -248 -248Accumulated impairment -9 -6 -15Carrying amount as at 31/12/2021 2,666 63 2,729Note 13:Property, plant and equipmentProperty, plant and equipment(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2022 15 169 184Translation differences 0 0 0Additions - 41 41Disposals - -8 -8Depreciation for the year - -33 -33Carrying amount as of 31/12/2022 15 169 184Total cost 20 374 394Accumulated depreciation -5 -205 -210Accumulated impairment - - -Carrying amount as of 31/12/2022 15 170 184Property, plant and equipment cont.(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2021 17 214 231Translation differences -1 -14 -15AcquisitionsAdditions 22 22Disposals -17 -17Depreciation for the year -1 -37 -38Carrying amount as of 31/12/2021 15 169 184Depreciation charge during the year:(Amounts in NOK million)2022 2021Intangible assets 0 1Land, offices and buildings 30 33Machinery, cars and equipment 121 124Total depreciation expense 151 158",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-752-5": {
"value": "Note 13:Property, plant and equipmentProperty, plant and equipment(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2022 15 169 184Translation differences 0 0 0Additions - 41 41Disposals - -8 -8Depreciation for the year - -33 -33Carrying amount as of 31/12/2022 15 169 184Total cost 20 374 394Accumulated depreciation -5 -205 -210Accumulated impairment - - -Carrying amount as of 31/12/2022 15 170 184Property, plant and equipment cont.(Amounts in NOK million)Buildings Machinery, Tot a lfixtures, etc.Carrying amount as of 1/1/2021 17 214 231Translation differences -1 -14 -15AcquisitionsAdditions 22 22Disposals -17 -17Depreciation for the year -1 -37 -38Carrying amount as of 31/12/2021 15 169 184",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-754-3": {
"value": "Accounting policyProperty, plant and equipment are recognised at cost less accumulated depreciation and impairment loss. The cost of an item of property, plant and equipment includes costs that are directly attributable to the acquisition of the assets.Subsequent expenditure is recognised in the carrying amount of the asset, if it is probable that the future economic benefits related to the expenditure will flow to the Group, and the expenditure can be reliably measured. The carrying amount of any parts that are replaced is derecognised.All other repair and maintenance costs are recognised in the income statement in the period when the costs are incurred, except for certain regular major inspections as described below.Depreciation is calculated on a straight-line basis over the expected useful life of the asset, as follows:Buildings: 15 - 50 yearsMachinery and fixtures: 3 - 20 yearsThe economic life of the non-current assets and the residual value are reviewed on the date of each balance sheet and adjusted prospectively if required.An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses arising on derecognition of the asset are presented as part of the operating profit/loss and calculated as the difference between the net disposal proceeds and the carrying amount of the asset.If regular major inspections for faults or overhauls, regardless of whether parts of the item are replaced, is a condition of continuing to operate the equipment or to extend its economic lifetime, the related periodic maintenance can be capitalised and depreciated on a straight-line-basis until the next expected periodic maintenance is required. At the end of 2022, no such expenses were capitalised.Impairment considerationProperty, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-764-4": {
"value": "All other repair and maintenance costs are recognised in the income statement in the period when the costs are incurred, except for certain regular major inspections as described below.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-767-5": {
"value": "Depreciation is calculated on a straight-line basis over the expected useful life of the asset, as follows:Buildings: 15 - 50 yearsMachinery and fixtures: 3 - 20 yearsThe economic life of the non-current assets and the residual value are reviewed on the date of each balance sheet and adjusted prospectively if required.An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Gains and losses arising on derecognition of the asset are presented as part of the operating profit/loss and calculated as the difference between the net disposal proceeds and the carrying amount of the asset.If regular major inspections for faults or overhauls, regardless of whether parts of the item are replaced, is a condition of continuing to operate the equipment or to extend its economic lifetime, the related periodic maintenance can be capitalised and depreciated on a straight-line-basis until the next expected periodic maintenance is required. At the end of 2022, no such expenses were capitalised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-803-2": {
"value": "Note 14:Right-of-use assets Right-of-use assets(Amounts in NOK million)2022 2021Land, offices and buildings 73 73Machinery, cars and equipment 491 441Total ROU assets 564 514Depreciation charge during the year:The lease expense for short-term and low-value leases mainly consists of project related short-term lease agreements. For information about the related leasing liabilities, please refer to note 19.(Amounts in NOK million)2022 2021Intangible assets 0 1Land, offices and buildings 30 33Machinery, cars and equipment 121 124Total depreciation expense 151 158Interest expense on lease liabilities 11 12\ue61dLease expense - short-term and low-value leases 132 119\ue61dTotal cash outflow for all leases 302 287\ue61dAddition of ROU assets during the financial year 192 134\ue61d",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-805-3": {
"value": "Accounting policyThe Group leases various offices, warehouses, machinery, equipment and cars. Contracts are typically made for fixed periods of 3 to 10 years but may have extension and termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period based on the remaining balance of the liability for each period.The Group has elected to use the two exemptions proposed by the standard (IFRS 16) on the following contracts:Lease contracts with a duration of equal to or less than 12 monthsLease contracts for which the underlying asset has a low valuePayments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense over the lease term in profit or loss.Right-of-use assetsRight-of-use assets are recognised at cost less accumulated depreciation and impairment loss. Initial recognition of right-of-use assets are measured at cost comprising the following:the amount of the initial measurement of lease liabilityany lease payments made at or before the commencement date less any lease incentives received, any initial direct costs, andrestoration costsRight-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:Intangible assets 1-3 yearsLand, offices and buildings 1-12 years Machinery, cars and equipment 1-25 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are subject to impairment testing. Refer to section regarding Impairment.Lease liabilitiesLease liabilities include the net present value of the following lease payments:fixed payments less any lease incentives receivablevariable lease payment that are based on an index or a rateamounts expected to be payable by the lessee under residual value guaranteesthe exercise price of a purchase option if the lessee is reasonably certain to exercise that option, andpayments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee\u2019s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Options (extension / termination) on lease contracts are considered on a case-by-case basis following a regular management assessment. The borrowing rates used for IFRS 16 purposes have been defined based on the underlying countries and asset classes related risks. The Group\u2019s weighted average incremental borrowing rate is 2.71%.Impairment considerationRight-of-use assets are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognised as an impairment loss in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-889-2": {
"value": "Note 15:Trade receivables and other receivables Trade and other current receivables by currency:Age distribution of trade receivables: (Amounts in NOK million)2022 2021Trade receivables 772 939Provisions for expected losses -7 -10Trade receivables \u2013 net 765 929Contract assets 475 315Other current receivables 185 115Total current receivables 1,425 1,359(Amounts in NOK million)2022 2021Trade receivables not due for payment 604 755Up to 30 days 93 114Between 30 and 90 days 42 51Over 90 days 33 19Total receivables due for payment 168 184Total trade receivables 772 939(Amounts in NOK million)2022 2021NOK 586 473SEK 381 335EUR 458 552Total current receivables 1,425 1,359Total receivables",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-889-3": {
"value": "Note 15:Trade receivables and other receivables Trade and other current receivables by currency:Age distribution of trade receivables: (Amounts in NOK million)2022 2021Trade receivables 772 939Provisions for expected losses -7 -10Trade receivables \u2013 net 765 929Contract assets 475 315Other current receivables 185 115Total current receivables 1,425 1,359(Amounts in NOK million)2022 2021Trade receivables not due for payment 604 755Up to 30 days 93 114Between 30 and 90 days 42 51Over 90 days 33 19Total receivables due for payment 168 184Total trade receivables 772 939(Amounts in NOK million)2022 2021NOK 586 473SEK 381 335EUR 458 552Total current receivables 1,425 1,359Total receivables",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-897-2": {
"value": "Note 16:Cash and cash equivalents Trade and other current receivables by currency:Cash and cash equivalents per currency:Restricted cash includes the employees\u2019 tax withholdings and cash deposits for rent agreements.Negative cash in SEK and EUR is related to and netted as part of the Group\u2019s cash pool agreement with Danske Bank.(Amounts in NOK million)2022 2021Cash and bank deposits 472 626Restricted cash 0 0Tota l 472 626(Amounts in NOK million)2022 2021NOK 389 493SEK -118 -18EUR 201 152Tota l 472 626",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-897-3": {
"value": "Note 16:Cash and cash equivalents Trade and other current receivables by currency:Cash and cash equivalents per currency:Restricted cash includes the employees\u2019 tax withholdings and cash deposits for rent agreements.Negative cash in SEK and EUR is related to and netted as part of the Group\u2019s cash pool agreement with Danske Bank.(Amounts in NOK million)2022 2021Cash and bank deposits 472 626Restricted cash 0 0Tota l 472 626(Amounts in NOK million)2022 2021NOK 389 493SEK -118 -18EUR 201 152Tota l 472 626",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-899-3": {
"value": "Accounting policyCash and cash equivalents consist of cash, bank deposits and other short-term and highly liquid investments with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-912-2": {
"value": "Note 17:Share capital and shareholder informationNRC Group ASA has one class of shares. The total number of external shares at year-end was 72,837,893 excluding 116,656 own shares (2021: 72,953,966 excluding 583 own shares), with a nominal value of NOK 1.00 each. The share capital as of 31 December 2022 totalled NOK 72,954,549 (2021: 72,954,549).On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of an option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. The authorisation only applies to issuances of shares against payment in cash and is valid until 6 May 2023. 131,407 shares have been issued and 476,000 options were granted and outstanding under this programme as per 31 December 2022.This programme is further described in note 7.On 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of an option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with the option programme for key employees. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. No shares have been issued under this programme and 983,500 options were granted and outstanding at 31 December 2022. The authorisation only applies to issuances of shares against payment in cash and is valid until 5 May 2024. This Programme is further described in note 7.At the Annual General Meeting on 5 May 2022, the General Meeting granted the Board of Directors an authorisation to acquire shares in the Company for up to a maximum nominal value of NOK 7,295,454.90. The Board of Directors\u2019 acquisition of shares pursuant to the authorisation can only take place between a minimum price of NOK 1 and a highest price of NOK 100 per share. The authorisation applies until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023. Acquisitions and disposals of treasury shares can take place in the manner found appropriate by the Board of Directors.On the general meeting 5 May 2022, the Board of Directors were authorised to increase the share capital by up to NOK 7,295,455.00, through issuance of up to 7,295,455 new shares, each with a par value of NOK 1.00. The capital increase may be paid in cash, by set-off or by contributions in assets other than money. The authorisation includes the right to incur special obligations on behalf of the company, cf. Section 10-2 of the Norwegian Public Limited Companies Act. The shareholders\u2019 pre-emptive rights pursuant to Section 10-4 of the Norwegian Public Limited Companies Act may be waived by the Board of Directors, cf. Section 10-5 of the Norwegian Public Limited Companies Act. The authorisation includes decisions on merger, cf. Section 13-5 of the Norwegian Public Limited Companies Act. The authorisation is valid from registration with the Register of Business Enterprises until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023, and includes the right to change the company\u2019s Articles of Association in connection with the share capital increase.The movement in the number of shares, excluding own shares, during the year was as follows:Total number of shares on 31 December 2021 72,954,549Total number of shares on 31 December 2022 72,954,549 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-912-3": {
"value": "Note 17:Share capital and shareholder informationNRC Group ASA has one class of shares. The total number of external shares at year-end was 72,837,893 excluding 116,656 own shares (2021: 72,953,966 excluding 583 own shares), with a nominal value of NOK 1.00 each. The share capital as of 31 December 2022 totalled NOK 72,954,549 (2021: 72,954,549).On 12 May 2016, the Company\u2019s Annual General Meeting approved implementation of an option programme for senior management. On the Annual General Meeting 6 May 2021, the option programme for senior management was renewed for two more years, comprising in total 1,200,000 shares. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. The authorisation only applies to issuances of shares against payment in cash and is valid until 6 May 2023. 131,407 shares have been issued and 476,000 options were granted and outstanding under this programme as per 31 December 2022.This programme is further described in note 7.On 19 April 2018, the Company\u2019s Annual General Meeting approved implementation of an option programme for key employees. The Annual General Meeting 5 May 2022 granted the authorisation to increase the share capital by up to NOK 1,000,000 in connection with the option programme for key employees. The Board of Directors are authorised to increase the share capital and to determine the subscription price and other subscription terms. No shares have been issued under this programme and 983,500 options were granted and outstanding at 31 December 2022. The authorisation only applies to issuances of shares against payment in cash and is valid until 5 May 2024. This Programme is further described in note 7.At the Annual General Meeting on 5 May 2022, the General Meeting granted the Board of Directors an authorisation to acquire shares in the Company for up to a maximum nominal value of NOK 7,295,454.90. The Board of Directors\u2019 acquisition of shares pursuant to the authorisation can only take place between a minimum price of NOK 1 and a highest price of NOK 100 per share. The authorisation applies until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023. Acquisitions and disposals of treasury shares can take place in the manner found appropriate by the Board of Directors.On the general meeting 5 May 2022, the Board of Directors were authorised to increase the share capital by up to NOK 7,295,455.00, through issuance of up to 7,295,455 new shares, each with a par value of NOK 1.00. The capital increase may be paid in cash, by set-off or by contributions in assets other than money. The authorisation includes the right to incur special obligations on behalf of the company, cf. Section 10-2 of the Norwegian Public Limited Companies Act. The shareholders\u2019 pre-emptive rights pursuant to Section 10-4 of the Norwegian Public Limited Companies Act may be waived by the Board of Directors, cf. Section 10-5 of the Norwegian Public Limited Companies Act. The authorisation includes decisions on merger, cf. Section 13-5 of the Norwegian Public Limited Companies Act. The authorisation is valid from registration with the Register of Business Enterprises until the Annual General Meeting in the spring of 2023, but not later than 30 June 2023, and includes the right to change the company\u2019s Articles of Association in connection with the share capital increase.The movement in the number of shares, excluding own shares, during the year was as follows:Total number of shares on 31 December 2021 72,954,549Total number of shares on 31 December 2022 72,954,549 Ownership structureThe number of shareholders as of 31 December 2022 was 4,317, compared with 4,576 as of 31 December 2021. The percentage of issued shares held by foreign shareholders was 56.75%, compared with 55.6 % at year-end 2021.NRC Group\u2019s 20 largest shareholders as of 31 December 2022:Name Country Holding Stake (%)Vr-yhtym\u00e4 OY Fin 13 336 415 18,28J.P. Morgan SE Lux 7 402 764 10,15The Bank of New York Mellon SA/NV Bel 7 014 701 9,62J.P. Morgan SE Lux 3 702 909 5,08Verdipapirfondet Nordea Norge Nor 2 172 468 2,98Protector forsikring ASA Nor 1 868 968 2,56Skandinaviska Enskilda Banken AB Lux 1 720 000 2,36Verdipapirfondet Nordea Avkastning Nor 1 319 412 1,81Gunnar Knutsen Holding AS Nor 1 252 677 1,72Avanza bank AB Swe 1 186 320 1,63Vinterstua AS Nor 1 008 963 1,38Clearstream Banking S.A. Lux 1 004 173 1,38LGA Holding AS Nor 922 880 1,27Heim Haugo AS Nor 850 745 1,17J.P. Morgan SE Lux 829 460 1,14Danske Invest Norge vekst Nor 719 988 0,99Verdipapirfondet Nordea Kapital Nor 680 855 0,93Verdipapirfondet Nordea Norge Plus Nor 669 115 0,92Nordea bank ABP Fin 603 487 0,83Nordnet bank AB Swe 587 933 0,81Total number of shares owned by top 20 48 854 233 66,97Total number of shares 72 954 549 100,00Shares held by members of the Board of Directors and executive management on 31 December 2022 including shares controlled through holding companies and related parties:187,167 of the share options to the executive management were exercisable at year-end. See note 7 for further information. DividendBased on the 2022 results, the Board of Directors will propose no dividends for 2022. 1 Including 133,996 shares held by Jodfabrikken AS, a company wholly owned by Ole Anton Gulsvik.Ordinary Share sharesoptionsRolf Jansson Chairman of the Board of Directors 65,000Eva Nygren Board member 1,000Heikki Allonen Board member 28,000Mats Williamson Board member 30,000Tove Pettersen Board member 5,000Karin Orgland Board member 15,000Outi Henriksson Board member 5,000Henning Olsen CEO NRC Group 114,306 135,000Ole Anton Gulsvik1 CFO NRC Group 138,277 75,000Arild Moe EVP & MD NRC Group Norway 232,033 57,000Harri Lukkarinen EVP & MD NRC Group Finland 16,962 115,500Lene Engebretsen EVP & Head of communications 9,259 41,000Jussi Mattsson EVP & Head of Strategy and Business Dev. 5,252 35,000Marianne Kellmer EVP & Head of HR 4,281",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-914-3": {
"value": "Accounting policyExpenses that are directly attributable to the issue of new shares less taxes are recognised against the equity as a reduction in the proceeds.Payments for the purchase of own shares are recognised as a reduction in equityand proceeds from any sale as an increase. A loss or gain is not recognised in theincome statement for any purchase, sale, issue or cancellation of own shares.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-969-2": {
"value": "Treasury sharesThe Company owned 583 treasury shares at the beginning of 2022. During 2022, the Company acquired 371,033 treasury shares at a total proceed of NOK 7.0 million. 254,960 of the shares were transferred to the employees participating in the 2022 share programme for employees. At the end of 2022, the Company owned 116,656 treasury shares corresponding to 0.16 % of the total number of outstanding shares. The Board of Directors has a mandate until the Annual General Meeting in the spring of 2023 and no later than 30 June 2022, to acquire up to 7,295,455 of the Company\u2019s own shares.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-988-3": {
"value": "DividendBased on the 2022 results, the Board of Directors will propose no dividends for 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1035-2": {
"value": "Note 19:Loans and other non-current liabilitiesThe composition of non-current and current interest-bearing liabilities is as follows:The interest-bearing debt has variable interest rates or interest adjustment clauses that are shorter than three months at any given time. Since the debt can be repaid, other than the bond, at the time when the interest rate is regulated, the difference between the fair value and carrying amount will be small and insignificant.Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. On 19 January 2023, an amended credit facility was signed. In addition to the existing credit facility of NOK 200 million, it includes a seasonal credit facility of NOK 300 million which will be available under certain circumstances. *The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period. ** Minimum zero(Amounts in NOK million)2022 2021Interest-bearing non-current liabilities:Lease liabilities 353 319Bond debt 600 600Other loans and borrowings 141 280Total interest-bearing non-current liabilities 1,095 1,199Interest-bearing current liabilities:Lease liabilities 175 173Loans and borrowings 153 146Total interest-bearing current liabilities 328 319(Amounts in NOK million)NOK EUR SEKLease liabilities + 1.75% - 4.00% + 2.60% - 3.45% + 3.30% - 4.80%Bond debt 3-month NIBOR*+ 4.51%Bank loan 3-month EURIBOR**+ 2.05%Credit facility 3-month NIBOR 3-month EURIBOR 3-month STIBOR+ 1.45% + 1.65% + 1.65%The margins on the bank loan and credit facility depend on the leverage ratio (net interest-bearing debt to adjusted EBITDA). During 2022, the margin on the bank loan started at 2.05%,decreased to 1.85% and ended at 2.05% at year end. The margin can be in a range of 1.70% to 2.50%. During 2022, the margin on the credit facility was between 1.20% and 1.45 % of the total range of 1.00% and 1.65% for NOK, and between 1.40% and 1.65% of the total range of 1.20% and 1.85% for EUR and SEK. The margin on the amended credit facility valid from 19 January is aligned for all currencies and is in the range of 1.00% and 1.65%. The reference rates NIBOR, STIBOR and EURIBOR will be limited at minimum zero.Carrying amount of non-current and current interest-bearing liabilities:Year-end 2022The undiscounted maturity structure of the NRC Group\u2019s current and non-current interest-bearing liabilities including estimated interest expenses where applicable is as follows:(Amounts in NOK million)2022 2021NOK 987 909EUR 388 540SEK 47 69Total interest-bearing liabilities 1,423 1,518(Amounts in NOK million)1H 2023 2H 2023 2024 2025 2026 2027 2028 ->Leasing 96 91 133 97 62 30 49Bond 18 18 625 - - - -Bank loans 82 80 145 - - - -Tota l 195 189 904 97 62 30 49Hereof interest 29 26 34 5 3 2 1Year-end 2021Covenants at year-end 2022The bond matures at 13 September 2024. The bank loan refers to a EUR facility with Danske Bank with quarterly instalments of EUR 3.6 million and final settlement on 7 January 2024. On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern amongst others a reduction of quarterly instalments to EUR 1.2 million and a postponed final settlement date of 8 July 2024.The Company\u2019s term facilities with Danske Bank ASA and the NOK 600 million senior unsecuredbond contain certain financial conditions based on the facility agreements that may not be directly related to reported IFRS numbers:Interest cover ratio: 12 months rolling EBITDA adjusted for acquisition costs and certain non-recurring items in relation to relevant financial net payments.Leverage ratio: Net interest-bearing debt in relation to adjusted 12 months rolling EBITDAEquity ratio: Equity in relation to total assets(Amounts in NOK million)1H 2022 2H 2022 2023 2024 2025 2026 2027 ->Leasing 97 85 125 82 53 27 46Bond 18 18 36 627 - - -Bank loans 78 76 150 137 - - -Tota l 193 179 311 846 53 27 46Hereof interest 27 25 46 31 2 1 2Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 16.54Leverage ratio, Danske Bank \u2264 3.50 2.78Equity ratio, Danske Bank > 25% 45 %Interest cover ratio, bond >2.50 5.88Equity ratio, bond > 25% 45 %Covenants at year-end 2021There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. In the Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank signed 14 February 2023, the leverage ratio covenant has increased with 0.25 for the period Q4 2022 until Q4 2023. Consequently, the leverage ratio for the Danske Bank facility will be 3.75 for the period Q4 2022 to Q3 2023, reduced to 3.5 in Q4 2023 and will be 3.25 from the beginning of 2024. There were no breaches of the financial covenants of any interest-bearing liability during 2021.The bond agreement includes for certain transactions such as paying dividend and taking on new loan agreements, requirements of an incurrence test with leverage ratio < 3.0 compared to actual 2.8 on 31 December 2022. The leverage ratio in respect of dividend distributions reduces to 2.5 from 1 January 2023. Paying dividend is restricted to 50% of any net income for the year. No dividend is proposed for 2022.Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 11.71Leverage ratio, Danske Bank \u2264 4.00 2.66Equity ratio, Danske Bank > 25% 47 %Interest cover ratio, bond >2.50 5.1Equity ratio, bond > 25% 47 %Changes in interest-bearing liabilities arising from financing activities:(Amounts in NOK million)2022 2021Interest-bearing liability at 1 January 1,518 1,768Repayment of borrowings -147 -147Payments of lease liabilities -171 -168Leasing liabilities, net of additions, terminations and adjustments 196 102Currency adjustment 27 -37Interest-bearing liability at 31 December 1,423 1,518",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1035-3": {
"value": "Note 19:Loans and other non-current liabilitiesThe composition of non-current and current interest-bearing liabilities is as follows:The interest-bearing debt has variable interest rates or interest adjustment clauses that are shorter than three months at any given time. Since the debt can be repaid, other than the bond, at the time when the interest rate is regulated, the difference between the fair value and carrying amount will be small and insignificant.Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. On 19 January 2023, an amended credit facility was signed. In addition to the existing credit facility of NOK 200 million, it includes a seasonal credit facility of NOK 300 million which will be available under certain circumstances. *The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period. ** Minimum zero(Amounts in NOK million)2022 2021Interest-bearing non-current liabilities:Lease liabilities 353 319Bond debt 600 600Other loans and borrowings 141 280Total interest-bearing non-current liabilities 1,095 1,199Interest-bearing current liabilities:Lease liabilities 175 173Loans and borrowings 153 146Total interest-bearing current liabilities 328 319(Amounts in NOK million)NOK EUR SEKLease liabilities + 1.75% - 4.00% + 2.60% - 3.45% + 3.30% - 4.80%Bond debt 3-month NIBOR*+ 4.51%Bank loan 3-month EURIBOR**+ 2.05%Credit facility 3-month NIBOR 3-month EURIBOR 3-month STIBOR+ 1.45% + 1.65% + 1.65%The margins on the bank loan and credit facility depend on the leverage ratio (net interest-bearing debt to adjusted EBITDA). During 2022, the margin on the bank loan started at 2.05%,decreased to 1.85% and ended at 2.05% at year end. The margin can be in a range of 1.70% to 2.50%. During 2022, the margin on the credit facility was between 1.20% and 1.45 % of the total range of 1.00% and 1.65% for NOK, and between 1.40% and 1.65% of the total range of 1.20% and 1.85% for EUR and SEK. The margin on the amended credit facility valid from 19 January is aligned for all currencies and is in the range of 1.00% and 1.65%. The reference rates NIBOR, STIBOR and EURIBOR will be limited at minimum zero.Carrying amount of non-current and current interest-bearing liabilities:Year-end 2022The undiscounted maturity structure of the NRC Group\u2019s current and non-current interest-bearing liabilities including estimated interest expenses where applicable is as follows:(Amounts in NOK million)2022 2021NOK 987 909EUR 388 540SEK 47 69Total interest-bearing liabilities 1,423 1,518(Amounts in NOK million)1H 2023 2H 2023 2024 2025 2026 2027 2028 ->Leasing 96 91 133 97 62 30 49Bond 18 18 625 - - - -Bank loans 82 80 145 - - - -Tota l 195 189 904 97 62 30 49Hereof interest 29 26 34 5 3 2 1Year-end 2021Covenants at year-end 2022The bond matures at 13 September 2024. The bank loan refers to a EUR facility with Danske Bank with quarterly instalments of EUR 3.6 million and final settlement on 7 January 2024. On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern amongst others a reduction of quarterly instalments to EUR 1.2 million and a postponed final settlement date of 8 July 2024.The Company\u2019s term facilities with Danske Bank ASA and the NOK 600 million senior unsecuredbond contain certain financial conditions based on the facility agreements that may not be directly related to reported IFRS numbers:Interest cover ratio: 12 months rolling EBITDA adjusted for acquisition costs and certain non-recurring items in relation to relevant financial net payments.Leverage ratio: Net interest-bearing debt in relation to adjusted 12 months rolling EBITDAEquity ratio: Equity in relation to total assets(Amounts in NOK million)1H 2022 2H 2022 2023 2024 2025 2026 2027 ->Leasing 97 85 125 82 53 27 46Bond 18 18 36 627 - - -Bank loans 78 76 150 137 - - -Tota l 193 179 311 846 53 27 46Hereof interest 27 25 46 31 2 1 2Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 16.54Leverage ratio, Danske Bank \u2264 3.50 2.78Equity ratio, Danske Bank > 25% 45 %Interest cover ratio, bond >2.50 5.88Equity ratio, bond > 25% 45 %Covenants at year-end 2021There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. In the Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank signed 14 February 2023, the leverage ratio covenant has increased with 0.25 for the period Q4 2022 until Q4 2023. Consequently, the leverage ratio for the Danske Bank facility will be 3.75 for the period Q4 2022 to Q3 2023, reduced to 3.5 in Q4 2023 and will be 3.25 from the beginning of 2024. There were no breaches of the financial covenants of any interest-bearing liability during 2021.The bond agreement includes for certain transactions such as paying dividend and taking on new loan agreements, requirements of an incurrence test with leverage ratio < 3.0 compared to actual 2.8 on 31 December 2022. The leverage ratio in respect of dividend distributions reduces to 2.5 from 1 January 2023. Paying dividend is restricted to 50% of any net income for the year. No dividend is proposed for 2022.Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 11.71Leverage ratio, Danske Bank \u2264 4.00 2.66Equity ratio, Danske Bank > 25% 47 %Interest cover ratio, bond >2.50 5.1Equity ratio, bond > 25% 47 %Changes in interest-bearing liabilities arising from financing activities:(Amounts in NOK million)2022 2021Interest-bearing liability at 1 January 1,518 1,768Repayment of borrowings -147 -147Payments of lease liabilities -171 -168Leasing liabilities, net of additions, terminations and adjustments 196 102Currency adjustment 27 -37Interest-bearing liability at 31 December 1,423 1,518",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1035-4": {
"value": "Note 19:Loans and other non-current liabilitiesThe composition of non-current and current interest-bearing liabilities is as follows:The interest-bearing debt has variable interest rates or interest adjustment clauses that are shorter than three months at any given time. Since the debt can be repaid, other than the bond, at the time when the interest rate is regulated, the difference between the fair value and carrying amount will be small and insignificant.Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. On 19 January 2023, an amended credit facility was signed. In addition to the existing credit facility of NOK 200 million, it includes a seasonal credit facility of NOK 300 million which will be available under certain circumstances. *The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period. ** Minimum zero(Amounts in NOK million)2022 2021Interest-bearing non-current liabilities:Lease liabilities 353 319Bond debt 600 600Other loans and borrowings 141 280Total interest-bearing non-current liabilities 1,095 1,199Interest-bearing current liabilities:Lease liabilities 175 173Loans and borrowings 153 146Total interest-bearing current liabilities 328 319(Amounts in NOK million)NOK EUR SEKLease liabilities + 1.75% - 4.00% + 2.60% - 3.45% + 3.30% - 4.80%Bond debt 3-month NIBOR*+ 4.51%Bank loan 3-month EURIBOR**+ 2.05%Credit facility 3-month NIBOR 3-month EURIBOR 3-month STIBOR+ 1.45% + 1.65% + 1.65%The margins on the bank loan and credit facility depend on the leverage ratio (net interest-bearing debt to adjusted EBITDA). During 2022, the margin on the bank loan started at 2.05%,decreased to 1.85% and ended at 2.05% at year end. The margin can be in a range of 1.70% to 2.50%. During 2022, the margin on the credit facility was between 1.20% and 1.45 % of the total range of 1.00% and 1.65% for NOK, and between 1.40% and 1.65% of the total range of 1.20% and 1.85% for EUR and SEK. The margin on the amended credit facility valid from 19 January is aligned for all currencies and is in the range of 1.00% and 1.65%. The reference rates NIBOR, STIBOR and EURIBOR will be limited at minimum zero.Carrying amount of non-current and current interest-bearing liabilities:Year-end 2022The undiscounted maturity structure of the NRC Group\u2019s current and non-current interest-bearing liabilities including estimated interest expenses where applicable is as follows:(Amounts in NOK million)2022 2021NOK 987 909EUR 388 540SEK 47 69Total interest-bearing liabilities 1,423 1,518(Amounts in NOK million)1H 2023 2H 2023 2024 2025 2026 2027 2028 ->Leasing 96 91 133 97 62 30 49Bond 18 18 625 - - - -Bank loans 82 80 145 - - - -Tota l 195 189 904 97 62 30 49Hereof interest 29 26 34 5 3 2 1Year-end 2021Covenants at year-end 2022The bond matures at 13 September 2024. The bank loan refers to a EUR facility with Danske Bank with quarterly instalments of EUR 3.6 million and final settlement on 7 January 2024. On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern amongst others a reduction of quarterly instalments to EUR 1.2 million and a postponed final settlement date of 8 July 2024.The Company\u2019s term facilities with Danske Bank ASA and the NOK 600 million senior unsecuredbond contain certain financial conditions based on the facility agreements that may not be directly related to reported IFRS numbers:Interest cover ratio: 12 months rolling EBITDA adjusted for acquisition costs and certain non-recurring items in relation to relevant financial net payments.Leverage ratio: Net interest-bearing debt in relation to adjusted 12 months rolling EBITDAEquity ratio: Equity in relation to total assets(Amounts in NOK million)1H 2022 2H 2022 2023 2024 2025 2026 2027 ->Leasing 97 85 125 82 53 27 46Bond 18 18 36 627 - - -Bank loans 78 76 150 137 - - -Tota l 193 179 311 846 53 27 46Hereof interest 27 25 46 31 2 1 2Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 16.54Leverage ratio, Danske Bank \u2264 3.50 2.78Equity ratio, Danske Bank > 25% 45 %Interest cover ratio, bond >2.50 5.88Equity ratio, bond > 25% 45 %Covenants at year-end 2021There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. In the Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank signed 14 February 2023, the leverage ratio covenant has increased with 0.25 for the period Q4 2022 until Q4 2023. Consequently, the leverage ratio for the Danske Bank facility will be 3.75 for the period Q4 2022 to Q3 2023, reduced to 3.5 in Q4 2023 and will be 3.25 from the beginning of 2024. There were no breaches of the financial covenants of any interest-bearing liability during 2021.The bond agreement includes for certain transactions such as paying dividend and taking on new loan agreements, requirements of an incurrence test with leverage ratio < 3.0 compared to actual 2.8 on 31 December 2022. The leverage ratio in respect of dividend distributions reduces to 2.5 from 1 January 2023. Paying dividend is restricted to 50% of any net income for the year. No dividend is proposed for 2022.Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 11.71Leverage ratio, Danske Bank \u2264 4.00 2.66Equity ratio, Danske Bank > 25% 47 %Interest cover ratio, bond >2.50 5.1Equity ratio, bond > 25% 47 %Changes in interest-bearing liabilities arising from financing activities:(Amounts in NOK million)2022 2021Interest-bearing liability at 1 January 1,518 1,768Repayment of borrowings -147 -147Payments of lease liabilities -171 -168Leasing liabilities, net of additions, terminations and adjustments 196 102Currency adjustment 27 -37Interest-bearing liability at 31 December 1,423 1,518Note 20:Other current liabilities (Amounts in NOK million)2022 2021Accrued salaries etc 266 272Accrued project expenses 133 113Provisions 20 24Other current liabilities 74 51Tota l 492 460",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1035-5": {
"value": "Note 19:Loans and other non-current liabilitiesThe composition of non-current and current interest-bearing liabilities is as follows:The interest-bearing debt has variable interest rates or interest adjustment clauses that are shorter than three months at any given time. Since the debt can be repaid, other than the bond, at the time when the interest rate is regulated, the difference between the fair value and carrying amount will be small and insignificant.Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. On 19 January 2023, an amended credit facility was signed. In addition to the existing credit facility of NOK 200 million, it includes a seasonal credit facility of NOK 300 million which will be available under certain circumstances. *The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period. ** Minimum zero(Amounts in NOK million)2022 2021Interest-bearing non-current liabilities:Lease liabilities 353 319Bond debt 600 600Other loans and borrowings 141 280Total interest-bearing non-current liabilities 1,095 1,199Interest-bearing current liabilities:Lease liabilities 175 173Loans and borrowings 153 146Total interest-bearing current liabilities 328 319(Amounts in NOK million)NOK EUR SEKLease liabilities + 1.75% - 4.00% + 2.60% - 3.45% + 3.30% - 4.80%Bond debt 3-month NIBOR*+ 4.51%Bank loan 3-month EURIBOR**+ 2.05%Credit facility 3-month NIBOR 3-month EURIBOR 3-month STIBOR+ 1.45% + 1.65% + 1.65%The margins on the bank loan and credit facility depend on the leverage ratio (net interest-bearing debt to adjusted EBITDA). During 2022, the margin on the bank loan started at 2.05%,decreased to 1.85% and ended at 2.05% at year end. The margin can be in a range of 1.70% to 2.50%. During 2022, the margin on the credit facility was between 1.20% and 1.45 % of the total range of 1.00% and 1.65% for NOK, and between 1.40% and 1.65% of the total range of 1.20% and 1.85% for EUR and SEK. The margin on the amended credit facility valid from 19 January is aligned for all currencies and is in the range of 1.00% and 1.65%. The reference rates NIBOR, STIBOR and EURIBOR will be limited at minimum zero.Carrying amount of non-current and current interest-bearing liabilities:Year-end 2022The undiscounted maturity structure of the NRC Group\u2019s current and non-current interest-bearing liabilities including estimated interest expenses where applicable is as follows:(Amounts in NOK million)2022 2021NOK 987 909EUR 388 540SEK 47 69Total interest-bearing liabilities 1,423 1,518(Amounts in NOK million)1H 2023 2H 2023 2024 2025 2026 2027 2028 ->Leasing 96 91 133 97 62 30 49Bond 18 18 625 - - - -Bank loans 82 80 145 - - - -Tota l 195 189 904 97 62 30 49Hereof interest 29 26 34 5 3 2 1Year-end 2021Covenants at year-end 2022The bond matures at 13 September 2024. The bank loan refers to a EUR facility with Danske Bank with quarterly instalments of EUR 3.6 million and final settlement on 7 January 2024. On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern amongst others a reduction of quarterly instalments to EUR 1.2 million and a postponed final settlement date of 8 July 2024.The Company\u2019s term facilities with Danske Bank ASA and the NOK 600 million senior unsecuredbond contain certain financial conditions based on the facility agreements that may not be directly related to reported IFRS numbers:Interest cover ratio: 12 months rolling EBITDA adjusted for acquisition costs and certain non-recurring items in relation to relevant financial net payments.Leverage ratio: Net interest-bearing debt in relation to adjusted 12 months rolling EBITDAEquity ratio: Equity in relation to total assets(Amounts in NOK million)1H 2022 2H 2022 2023 2024 2025 2026 2027 ->Leasing 97 85 125 82 53 27 46Bond 18 18 36 627 - - -Bank loans 78 76 150 137 - - -Tota l 193 179 311 846 53 27 46Hereof interest 27 25 46 31 2 1 2Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 16.54Leverage ratio, Danske Bank \u2264 3.50 2.78Equity ratio, Danske Bank > 25% 45 %Interest cover ratio, bond >2.50 5.88Equity ratio, bond > 25% 45 %Covenants at year-end 2021There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. In the Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank signed 14 February 2023, the leverage ratio covenant has increased with 0.25 for the period Q4 2022 until Q4 2023. Consequently, the leverage ratio for the Danske Bank facility will be 3.75 for the period Q4 2022 to Q3 2023, reduced to 3.5 in Q4 2023 and will be 3.25 from the beginning of 2024. There were no breaches of the financial covenants of any interest-bearing liability during 2021.The bond agreement includes for certain transactions such as paying dividend and taking on new loan agreements, requirements of an incurrence test with leverage ratio < 3.0 compared to actual 2.8 on 31 December 2022. The leverage ratio in respect of dividend distributions reduces to 2.5 from 1 January 2023. Paying dividend is restricted to 50% of any net income for the year. No dividend is proposed for 2022.Condition Actual Interest cover ratio, Danske Bank \u2265 3.00 11.71Leverage ratio, Danske Bank \u2264 4.00 2.66Equity ratio, Danske Bank > 25% 47 %Interest cover ratio, bond >2.50 5.1Equity ratio, bond > 25% 47 %Changes in interest-bearing liabilities arising from financing activities:(Amounts in NOK million)2022 2021Interest-bearing liability at 1 January 1,518 1,768Repayment of borrowings -147 -147Payments of lease liabilities -171 -168Leasing liabilities, net of additions, terminations and adjustments 196 102Currency adjustment 27 -37Interest-bearing liability at 31 December 1,423 1,518",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1100-3": {
"value": "Note 20:Other current liabilities (Amounts in NOK million)2022 2021Accrued salaries etc 266 272Accrued project expenses 133 113Provisions 20 24Other current liabilities 74 51Tota l 492 460",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1100-4": {
"value": "Note 20:Other current liabilities (Amounts in NOK million)2022 2021Accrued salaries etc 266 272Accrued project expenses 133 113Provisions 20 24Other current liabilities 74 51Tota l 492 460",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1103-2": {
"value": "Note 21:Provisions(Amounts in NOK million)Warranty provisions Provisions for Total provisionsloss-making projectsOpening Balance 1 January 2022 7 17 24Translation differences 0 0 0Arising during the year 3 12 14Utilised -2 -1 -3Unused amounts reversed -3 -13 -16Closing Balance 31 December 2022 5 15 20Provisions cont.(Amounts in NOK million)Warranty provisions Provisions for Total provisionsloss-making projectsOpening Balance 1 January 2021 6 18 24Translation differences 0 -1 -1Arising during the year 4 13 17Utilised -1 -8 -9Unused amounts reversed -2 -4 -6Closing Balance 31 December 2021 7 17 24",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1105-3": {
"value": "Accounting policyClaims and disputes The Group recognises provisions when there is a present legal or constructive obligation as a result of past events, it is probable that the obligation will be settled by a transfer of economic resources, and a reliable estimate can be made of the amount of the obligation.Contingent liabilities are not recognised unless assumed in a business combination. Contingent liabilities assumed in a business combination are initially measured at fair value. Subsequently, it is measured at the higher of the best estimate of the expenditure required to settle the obligation and the amount initially recognised less (when appropriate) cumulative amortisation recognised in accordance with the requirements for revenue recognition.Warranty Provisions for warranty-related costs are recognised when the project is delivered to the customer. Initial recognition is based on historical experience. The initial estimateof warranty-related costs is revised annually.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1111-4": {
"value": "Contingent liabilities are not recognised unless assumed in a business combination. Contingent liabilities assumed in a business combination are initially measured at fair value. Subsequently, it is measured at the higher of the best estimate of the expenditure required to settle the obligation and the amount initially recognised less (when appropriate) cumulative amortisation recognised in accordance with the requirements for revenue recognition.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1124-2": {
"value": "Note 22:Pledged assets, guarantees and securityBank loans amounting to EUR 28.2 million and an unused credit facility of NOK 200 million are secured by pledge over shares in subsidiaries, other than GSP and JVK, amounting to NOK 2,000 million, receivables, inventory and operating equipment amounting to NOK 500 million per entity and intra-group loans of NOK 2,000 million. Total book value of receivables and inventory amounts to NOK 1,454 million. Leasing liabilities amounting to NOK 528 million are secured by way of the underlying assets for which the legal ownership is kept by the lease counterpart. Total book value of right-of-use assets amounts to NOK 564 million.The Group has framework agreements with Tryg Garanti/ Tryg Forsikring A/S (utilised NOK 378 million out of NOK 450 million), Nordic Guarantee (utilised NOK 44 million out of NOK 44 million), House of Guarantees AS (utilised NOK 99 million out of NOK 200 million), Euler Hermes Norge (utilised NOK 95 million out of NOK 200 million), Garantia Insurance Company Ltd (utilised EUR 23 million of EUR 30 million) and Standard Garanti Forsikring AS (utilised NOK 8 million out of NOK 150 million). Guarantees are issued as collateral for the fulfilment of the Group\u2019s contractual obligations. These could be based on contract performance, prepayments, warranty obligations, withholding taxes and similar.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1124-3": {
"value": "Note 22:Pledged assets, guarantees and securityBank loans amounting to EUR 28.2 million and an unused credit facility of NOK 200 million are secured by pledge over shares in subsidiaries, other than GSP and JVK, amounting to NOK 2,000 million, receivables, inventory and operating equipment amounting to NOK 500 million per entity and intra-group loans of NOK 2,000 million. Total book value of receivables and inventory amounts to NOK 1,454 million. Leasing liabilities amounting to NOK 528 million are secured by way of the underlying assets for which the legal ownership is kept by the lease counterpart. Total book value of right-of-use assets amounts to NOK 564 million.The Group has framework agreements with Tryg Garanti/ Tryg Forsikring A/S (utilised NOK 378 million out of NOK 450 million), Nordic Guarantee (utilised NOK 44 million out of NOK 44 million), House of Guarantees AS (utilised NOK 99 million out of NOK 200 million), Euler Hermes Norge (utilised NOK 95 million out of NOK 200 million), Garantia Insurance Company Ltd (utilised EUR 23 million of EUR 30 million) and Standard Garanti Forsikring AS (utilised NOK 8 million out of NOK 150 million). Guarantees are issued as collateral for the fulfilment of the Group\u2019s contractual obligations. These could be based on contract performance, prepayments, warranty obligations, withholding taxes and similar.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1124-4": {
"value": "Note 22:Pledged assets, guarantees and securityBank loans amounting to EUR 28.2 million and an unused credit facility of NOK 200 million are secured by pledge over shares in subsidiaries, other than GSP and JVK, amounting to NOK 2,000 million, receivables, inventory and operating equipment amounting to NOK 500 million per entity and intra-group loans of NOK 2,000 million. Total book value of receivables and inventory amounts to NOK 1,454 million. Leasing liabilities amounting to NOK 528 million are secured by way of the underlying assets for which the legal ownership is kept by the lease counterpart. Total book value of right-of-use assets amounts to NOK 564 million.The Group has framework agreements with Tryg Garanti/ Tryg Forsikring A/S (utilised NOK 378 million out of NOK 450 million), Nordic Guarantee (utilised NOK 44 million out of NOK 44 million), House of Guarantees AS (utilised NOK 99 million out of NOK 200 million), Euler Hermes Norge (utilised NOK 95 million out of NOK 200 million), Garantia Insurance Company Ltd (utilised EUR 23 million of EUR 30 million) and Standard Garanti Forsikring AS (utilised NOK 8 million out of NOK 150 million). Guarantees are issued as collateral for the fulfilment of the Group\u2019s contractual obligations. These could be based on contract performance, prepayments, warranty obligations, withholding taxes and similar.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1142-2": {
"value": "Note 23:Fair value of assets and liabilities, and financial assets per categoryThere are no material differences between the fair value and carrying value of financial assets and liabilities.Financial instruments per category 2022(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2021costvaluecostNon-current financial assets 23 15 8Total inventories 29 29Trade receivables 765 765Contract assets 475 475Other current receivables 185 29 156Cash & cash equivalents 472 472Tota l 1,950 15 1,750 185Pension obligations 11 11Interest-bearing non-current 1,095 1,095liabilitiesDeferred tax 1 1Other non-current liabilities 0Interest-bearing current 328 328liabilitiesTrade payables 504 504Contract liabilities 305 305Public fees payable 143 143Tax payable 1 1Other current liabilities 492 492Tota l 2,879 1,927 952Financial instruments per category 2021Non-financial assets and liabilities include contract liabilities, advance payments, accruals and provisions.(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2022costvaluecostNon-current financial assets 9 1 9Total inventories 28 28Trade receivables 929 929Contract assets 315 315Other current receivables 115 53 62Cash & cash equivalents 626 626Tota l 2,022 1 1,932 90Pension obligations 16 16Interest-bearing non-current 1,199 1,199liabilitiesDeferred tax 2 2Other non-current liabilities 8 8Interest-bearing current 319 319liabilitiesTrade payables 359 359Contract liabilities 424 424Public fees payable 154 154Tax payable 25 25Other current liabilities 460 460Tota l 2,966 8 1,877 1,081",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1142-3": {
"value": "Note 23:Fair value of assets and liabilities, and financial assets per categoryThere are no material differences between the fair value and carrying value of financial assets and liabilities.Financial instruments per category 2022(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2021costvaluecostNon-current financial assets 23 15 8Total inventories 29 29Trade receivables 765 765Contract assets 475 475Other current receivables 185 29 156Cash & cash equivalents 472 472Tota l 1,950 15 1,750 185Pension obligations 11 11Interest-bearing non-current 1,095 1,095liabilitiesDeferred tax 1 1Other non-current liabilities 0Interest-bearing current 328 328liabilitiesTrade payables 504 504Contract liabilities 305 305Public fees payable 143 143Tax payable 1 1Other current liabilities 492 492Tota l 2,879 1,927 952Financial instruments per category 2021Non-financial assets and liabilities include contract liabilities, advance payments, accruals and provisions.The table below analyses financial instruments recorded at fair value according to valuation method. The different levels are defined as follows:(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2022costvaluecostNon-current financial assets 9 1 9Total inventories 28 28Trade receivables 929 929Contract assets 315 315Other current receivables 115 53 62Cash & cash equivalents 626 626Tota l 2,022 1 1,932 90Pension obligations 16 16Interest-bearing non-current 1,199 1,199liabilitiesDeferred tax 2 2Other non-current liabilities 8 8Interest-bearing current 319 319liabilitiesTrade payables 359 359Contract liabilities 424 424Public fees payable 154 154Tax payable 25 25Other current liabilities 460 460Tota l 2,966 8 1,877 1,081Level 1: Fair value is measured using quoted prices from active markets for identical financial instruments. No adjustment is made for these prices.Level 2: Fair value is measured using other observable input than that used in level 1, either directly (prices) or indirectly (derived from the prices).Level 3: Fair value is measured using input that is not based on observable market data.Financial assets at fair value:Financial liabilities at fair value:(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial assets at fair value through profit or loss 1 1Derivatives defined as hedging instruments 0Total at 31 December 2021 0 0 1 1Financial assets at fair value through profit or lossDerivatives defined as hedging instruments 15Total at 31 December 2022 0 0 15 15(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial liabilities at fair value through profit or loss 4 4Derivatives defined as hedging instruments 4 4Total at 31 December 2021 0 4 4 8Financial liabilities at fair value through profit or lossDerivatives defined as hedging instrumentsTotal at 31 December 2022 0 0 0 0The carrying value of cash and cash equivalents and liabilities to credit institutions is virtually the same as their fair value since these instruments have a short maturity term. Correspondingly, the carrying value of trade receivables and trade payables are virtually the same as the fair value, as they are agreed upon under \u201dnormal\u201d terms. This also applies to unpaid government charges, tax payable and current liabilities. A large proportion of non-current liabilities has variable interest rates and continuous interest rate adjustment, and therefore the carrying value is substantially the same as the fair value. The fair value of the group\u2019s interest rate hedge per year-end is estimated using the forward rate on the balance sheet date and is confirmed by the financial institution with which the agreement is signed. For more information about the hedging instruments, please refer to note 24.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1142-4": {
"value": "Note 23:Fair value of assets and liabilities, and financial assets per categoryThere are no material differences between the fair value and carrying value of financial assets and liabilities.Financial instruments per category 2022(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2021costvaluecostNon-current financial assets 23 15 8Total inventories 29 29Trade receivables 765 765Contract assets 475 475Other current receivables 185 29 156Cash & cash equivalents 472 472Tota l 1,950 15 1,750 185Pension obligations 11 11Interest-bearing non-current 1,095 1,095liabilitiesDeferred tax 1 1Other non-current liabilities 0Interest-bearing current 328 328liabilitiesTrade payables 504 504Contract liabilities 305 305Public fees payable 143 143Tax payable 1 1Other current liabilities 492 492Tota l 2,879 1,927 952Financial instruments per category 2021Non-financial assets and liabilities include contract liabilities, advance payments, accruals and provisions.The table below analyses financial instruments recorded at fair value according to valuation method. The different levels are defined as follows:(Amounts in NOK million)Balance Financial Financial Financial Financial Non-sheet on 31 assets at fair assets at liabilities liabilities at financial December value amortised at fair amortised item2022costvaluecostNon-current financial assets 9 1 9Total inventories 28 28Trade receivables 929 929Contract assets 315 315Other current receivables 115 53 62Cash & cash equivalents 626 626Tota l 2,022 1 1,932 90Pension obligations 16 16Interest-bearing non-current 1,199 1,199liabilitiesDeferred tax 2 2Other non-current liabilities 8 8Interest-bearing current 319 319liabilitiesTrade payables 359 359Contract liabilities 424 424Public fees payable 154 154Tax payable 25 25Other current liabilities 460 460Tota l 2,966 8 1,877 1,081Level 1: Fair value is measured using quoted prices from active markets for identical financial instruments. No adjustment is made for these prices.Level 2: Fair value is measured using other observable input than that used in level 1, either directly (prices) or indirectly (derived from the prices).Level 3: Fair value is measured using input that is not based on observable market data.Financial assets at fair value:Financial liabilities at fair value:(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial assets at fair value through profit or loss 1 1Derivatives defined as hedging instruments 0Total at 31 December 2021 0 0 1 1Financial assets at fair value through profit or lossDerivatives defined as hedging instruments 15Total at 31 December 2022 0 0 15 15(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial liabilities at fair value through profit or loss 4 4Derivatives defined as hedging instruments 4 4Total at 31 December 2021 0 4 4 8Financial liabilities at fair value through profit or lossDerivatives defined as hedging instrumentsTotal at 31 December 2022 0 0 0 0The carrying value of cash and cash equivalents and liabilities to credit institutions is virtually the same as their fair value since these instruments have a short maturity term. Correspondingly, the carrying value of trade receivables and trade payables are virtually the same as the fair value, as they are agreed upon under \u201dnormal\u201d terms. This also applies to unpaid government charges, tax payable and current liabilities. A large proportion of non-current liabilities has variable interest rates and continuous interest rate adjustment, and therefore the carrying value is substantially the same as the fair value. The fair value of the group\u2019s interest rate hedge per year-end is estimated using the forward rate on the balance sheet date and is confirmed by the financial institution with which the agreement is signed. For more information about the hedging instruments, please refer to note 24.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1145-3": {
"value": "Accounting policyFinancial instrumentsFinancial assetsFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them.All material financial assets are measured at amortised cost. In general, financial assets are recognised initially at fair value plus transaction costs and are subsequently measured at amortised cost using the effective interest rate method, less provision for losses that have been incurred.At initial recognition, trade and other receivables that do not have a significant financing component are measured at their transaction price. Financial assets measured at amortised cost are financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that are solely payments of principal and interest on the principal amount outstanding. This category includes the Group\u2019s trade and other receivables, contract assets, any loans included under other non-current financial assets and cash and cash equivalents.For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses. The Group recognises a loss provision at each reporting date for the total expected credit loss based on individual assessments of specific trade receivables and contract assets.Financial assets are derecognised when the rights to receive cash flows from theasset have expired.Financial liabilitiesFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.Most relevant to the Group is loans and borrowings or payables and consists of current and non-current interest-bearing loans, lease liability and trade and other payables. Financial liabilities are recognised initially at fair value net of directly attributable transaction costs and are subsequently measured at amortised cost using the effective interest rate method. A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss. Loans are classified as current liabilities unless there is an unconditional right to defer payment of the debt by more than 12 months from the date of the balance sheet. Trade and other payables are classified as current if payment is due within one year or less. Otherwise, they are classified as non-current.Derivative financial instruments and hedge accounting The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risks and interest risk. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.For the purpose of hedge accounting, hedges are classified as:Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset orliability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitmentHedges of a net investment in a foreign operationAt the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.For cash flow hedges, the effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised as OCI while any gains or losses relating to the ineffective portion are recognised in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1148-4": {
"value": "Financial assetsFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them.All material financial assets are measured at amortised cost. In general, financial assets are recognised initially at fair value plus transaction costs and are subsequently measured at amortised cost using the effective interest rate method, less provision for losses that have been incurred.At initial recognition, trade and other receivables that do not have a significant financing component are measured at their transaction price. Financial assets measured at amortised cost are financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that are solely payments of principal and interest on the principal amount outstanding. This category includes the Group\u2019s trade and other receivables, contract assets, any loans included under other non-current financial assets and cash and cash equivalents.For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses. The Group recognises a loss provision at each reporting date for the total expected credit loss based on individual assessments of specific trade receivables and contract assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1149-5": {
"value": "Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1149-6": {
"value": "Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, at fair value through other comprehensive income (OCI) or fair value through profit or loss. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1159-5": {
"value": "At initial recognition, trade and other receivables that do not have a significant financing component are measured at their transaction price. Loans are classified as current liabilities unless there is an unconditional right to defer payment of the debt by more than 12 months from the date of the balance sheet. Trade and other payables are classified as current if payment is due within one year or less. Otherwise, they are classified as non-current.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1172-4": {
"value": "Financial assets are derecognised when the rights to receive cash flows from theasset have expired.When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1174-4": {
"value": "Financial liabilitiesFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.Most relevant to the Group is loans and borrowings or payables and consists of current and non-current interest-bearing loans, lease liability and trade and other payables. Financial liabilities are recognised initially at fair value net of directly attributable transaction costs and are subsequently measured at amortised cost using the effective interest rate method. A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss. Loans are classified as current liabilities unless there is an unconditional right to defer payment of the debt by more than 12 months from the date of the balance sheet. Trade and other payables are classified as current if payment is due within one year or less. Otherwise, they are classified as non-current.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1195-4": {
"value": "Derivative financial instruments and hedge accounting The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risks and interest risk. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.For the purpose of hedge accounting, hedges are classified as:Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset orliability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitmentHedges of a net investment in a foreign operationAt the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.For cash flow hedges, the effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised as OCI while any gains or losses relating to the ineffective portion are recognised in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1196-5": {
"value": "The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risks and interest risk. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1203-5": {
"value": "For the purpose of hedge accounting, hedges are classified as:Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset orliability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitmentHedges of a net investment in a foreign operationAt the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.For cash flow hedges, the effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised as OCI while any gains or losses relating to the ineffective portion are recognised in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1236-4": {
"value": "The table below analyses financial instruments recorded at fair value according to valuation method. The different levels are defined as follows:Level 1: Fair value is measured using quoted prices from active markets for identical financial instruments. No adjustment is made for these prices.Level 2: Fair value is measured using other observable input than that used in level 1, either directly (prices) or indirectly (derived from the prices).Level 3: Fair value is measured using input that is not based on observable market data.Financial assets at fair value:Financial liabilities at fair value:(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial assets at fair value through profit or loss 1 1Derivatives defined as hedging instruments 0Total at 31 December 2021 0 0 1 1Financial assets at fair value through profit or lossDerivatives defined as hedging instruments 15Total at 31 December 2022 0 0 15 15(Amounts in NOK million)Level 1 Level 2 Level 3 To t alFinancial liabilities at fair value through profit or loss 4 4Derivatives defined as hedging instruments 4 4Total at 31 December 2021 0 4 4 8Financial liabilities at fair value through profit or lossDerivatives defined as hedging instrumentsTotal at 31 December 2022 0 0 0 0The carrying value of cash and cash equivalents and liabilities to credit institutions is virtually the same as their fair value since these instruments have a short maturity term. Correspondingly, the carrying value of trade receivables and trade payables are virtually the same as the fair value, as they are agreed upon under \u201dnormal\u201d terms. This also applies to unpaid government charges, tax payable and current liabilities. A large proportion of non-current liabilities has variable interest rates and continuous interest rate adjustment, and therefore the carrying value is substantially the same as the fair value. The fair value of the group\u2019s interest rate hedge per year-end is estimated using the forward rate on the balance sheet date and is confirmed by the financial institution with which the agreement is signed. For more information about the hedging instruments, please refer to note 24.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1260-2": {
"value": "Note 24:Financial riskThe Group activities involve various types of financial risk: market risk (currency and interest rate), credit risk and liquidity risk. A Group risk management policy for hedging is implemented to manage this risk, and the Group has a central finance department to carry out the risk management in close cooperation with the subsidiaries. The Group\u2019s senior management oversees the management of these risks. The purpose of risk management is to minimise any potentially negative impact on the Group\u2019s financial results.Market riskMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk most relevant to the Group comprises currency risk and interest rate.a. Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019s operating activities and the Group\u2019s net investments in foreign subsidiaries.The Group focuses on reducing any foreign currency risk associated with cash flows, and on reducing the foreign currency risk associated with assets and liabilities. The subsidiaries in general have revenue and expenses in the same currency, and this substantially reduces the Group\u2019s cash flow exposure to a single currency. The finance department carries out assessments of the need for any hedging of currency risk in cash flows, based on a group hedging policy.The EUR 28.2 million loan in Danske Bank hedges the net investment in Finland. Intercompany loans considered as part of the net investment in foreign operations include a SEK 300 million loan to Sweden. Net foreign exchange gains totalled NOK -1 million in 2022 (2021: NOK -2 million).The NOK/SEK rate of exchange as of 31 December 2022 was 0.9453 (2021: 0.9745), while the average of the monthly average rates used to translate the income statement was 0.9506 (2021: 1.002). The NOK/EUR rate of exchange as of 31 December 2022 was 10.5138 (2021: 9.9888), while the average of the monthly average rates used to translate the income statement was 10.1021 (2021: 10.1633).The following tables demonstrate the sensitivity to a reasonably possible change in SEK and EUR exchange rates, with all other variables held constant. The Group\u2019s exposure to foreign currency changes for all other currencies is not material.b. Interest rate riskThe Group has interest-bearing debt as described in note 19. The Group has a loan agreement with Danske Bank, a 5-year bond, and operational and financial leases being interest-bearing. The total cash position nets off some of the interest rate risk. The NOK 600 million bond issued in September 2021 carries an interest of 3 months NIBOR + 4% until maturity 13 September 2024. The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period using an interest rate swap. The bond creates an exposure to pay 3 months NIBOR interest on the NOK 600 million notional. The interest rate swap on the same notional creates an equal and opposite interest receipt and a fixed interest payment, therefore creating an exact offset for this transaction resulting in a net fixed interest payable of 1.838%. As the interest rate swap is based on the same notional, settlement dates and maturity as the bond, the hedge ratio is 100%. The fair value of the interest rate swap was NOK 15 million at year-end (2021: NOK -4 million), impacting OCI positively with NOK 15 million in 2022.(Amounts in NOK million)2022 2021 Change in SEK rate -5 % -5 %Effect on net income 23 4Effect on equity -15 -39Effect on net interest-bearing debt 8 4Change in EUR rate -5 % -5 %Effect on net income -5 -7Effect on equity -48 -35Effect on net interest-bearing debt 9 19Net interest expense for 2022 amounts to NOK 57 million (2021 NOK 63 million). An increase in interest rate of 1 percentage point would have increased interest on debt by approximately NOK 9 million in 2022.Credit riskCredit risk in connection with sales to customers is managed within the subsidiaries, and at group level for major projects. Credit risk is monitored by the subsidiaries and at group level. The Group has guidelines for new contracts that focus on various elements, all of which shall contribute to early payments from the customer.79% of the revenues for 2022 were to customers that are municipalities or government agencies, or companies or institutions where municipalities or government agencies have a dominant influence. The Group considers the risk of potential future losses from this type of customer to be low. The Group has not entered any transactions that involve financial derivatives or other financial instruments to mitigate credit risks.As of 31 December 2022, the Group has provisions of NOK 7 million (2021: NOK 10 million) for potential future losses on specific trade receivables. The loss provision represents the total expected credit loss based on individual assessments of specific trade receivables at the reporting date. The age distribution of the Group\u2019s trade receivables is specified in Note 15.The maximum exposure to credit risk at the reporting date is the carrying value of each classof financial assets disclosed in note 23.Liquidity riskLiquidity risk is the risk that the Group will be unable to meet its financial obligations when they are due, and that financing will not be available at a reasonable price. The central management team and the local managers of subsidiaries monitor the Group\u2019s liquid resources and credit facilities through revolving forecasts based on the expected cash flow. The Group\u2019s operations are impacted by seasonal fluctuations, since a large portion of the Group\u2019s operations consist of railroad work. Railroad work is performed to a lesser extent in winter during frost and when the surface of the earth is covered in snow. The Group normally ties up working capital when the activity is increasing.The Group had NOK 672 million in liquid reserves at the end of the year, compared with NOK 826 million in liquid reserves at the end of the previous year. Restricted bank deposits totalled NOK 0 million (2021: NOK 0 million) and total cash were NOK 472 million (2021: NOK 626 million). Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. The Group has a multi-currency cash pool administrated by Danske Bank, increasing the availability to the cash reserves for almost all subsidiaries.Total short-term interest-bearing debt including leasing liabilities at the year-end that are due to be paid during 2023 amounts to NOK 328 million (2021: NOK 319 million to be paid in 2022).Moreover, the Group has total current liabilities excluding interest-bearing debt as of 31 December 2022, totalling NOK 1,445 million (2021: NOK 1,422 million). Total current assets amounted to NOK 1,927 million compared to NOK 2,013 million last year.Capital managementThe purpose of the Group\u2019s capital management is to ensure a predictable financial framework for operations and provide shareholders with a return according to our dividend policy.The Group\u2019s capital structure considers the required financial flexibility to execute strategic plans, to handle existing debt financing arrangements as well as working capital needs and to provide necessary funds for dividend payment. The long-term ambition is to have a leverage ratio below 2.5. The ratio at year end was 2.8. The Group manages its capital structure and makes changes based on an ongoing assessment of the current economic condition and the outlook for both the short and medium term. Capital management is amongst other monitored based on available cash and net interest-bearing debt, as well as the Group\u2019s leverage ratio, interest cover ratio and equityratio. For more information about capital management considerations, see separate section under liquidity risk above and note 19.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1268-3": {
"value": "Market riskMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk most relevant to the Group comprises currency risk and interest rate.a. Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019s operating activities and the Group\u2019s net investments in foreign subsidiaries.The Group focuses on reducing any foreign currency risk associated with cash flows, and on reducing the foreign currency risk associated with assets and liabilities. The subsidiaries in general have revenue and expenses in the same currency, and this substantially reduces the Group\u2019s cash flow exposure to a single currency. The finance department carries out assessments of the need for any hedging of currency risk in cash flows, based on a group hedging policy.The EUR 28.2 million loan in Danske Bank hedges the net investment in Finland. Intercompany loans considered as part of the net investment in foreign operations include a SEK 300 million loan to Sweden. Net foreign exchange gains totalled NOK -1 million in 2022 (2021: NOK -2 million).The NOK/SEK rate of exchange as of 31 December 2022 was 0.9453 (2021: 0.9745), while the average of the monthly average rates used to translate the income statement was 0.9506 (2021: 1.002). The NOK/EUR rate of exchange as of 31 December 2022 was 10.5138 (2021: 9.9888), while the average of the monthly average rates used to translate the income statement was 10.1021 (2021: 10.1633).The following tables demonstrate the sensitivity to a reasonably possible change in SEK and EUR exchange rates, with all other variables held constant. The Group\u2019s exposure to foreign currency changes for all other currencies is not material.b. Interest rate riskThe Group has interest-bearing debt as described in note 19. The Group has a loan agreement with Danske Bank, a 5-year bond, and operational and financial leases being interest-bearing. The total cash position nets off some of the interest rate risk. The NOK 600 million bond issued in September 2021 carries an interest of 3 months NIBOR + 4% until maturity 13 September 2024. The 3 months NIBOR has been hedged to a fixed rate of 1.838% for the full period using an interest rate swap. The bond creates an exposure to pay 3 months NIBOR interest on the NOK 600 million notional. The interest rate swap on the same notional creates an equal and opposite interest receipt and a fixed interest payment, therefore creating an exact offset for this transaction resulting in a net fixed interest payable of 1.838%. As the interest rate swap is based on the same notional, settlement dates and maturity as the bond, the hedge ratio is 100%. The fair value of the interest rate swap was NOK 15 million at year-end (2021: NOK -4 million), impacting OCI positively with NOK 15 million in 2022.(Amounts in NOK million)2022 2021 Change in SEK rate -5 % -5 %Effect on net income 23 4Effect on equity -15 -39Effect on net interest-bearing debt 8 4Change in EUR rate -5 % -5 %Effect on net income -5 -7Effect on equity -48 -35Effect on net interest-bearing debt 9 19Net interest expense for 2022 amounts to NOK 57 million (2021 NOK 63 million). An increase in interest rate of 1 percentage point would have increased interest on debt by approximately NOK 9 million in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1319-3": {
"value": "Credit riskCredit risk in connection with sales to customers is managed within the subsidiaries, and at group level for major projects. Credit risk is monitored by the subsidiaries and at group level. The Group has guidelines for new contracts that focus on various elements, all of which shall contribute to early payments from the customer.79% of the revenues for 2022 were to customers that are municipalities or government agencies, or companies or institutions where municipalities or government agencies have a dominant influence. The Group considers the risk of potential future losses from this type of customer to be low. The Group has not entered any transactions that involve financial derivatives or other financial instruments to mitigate credit risks.As of 31 December 2022, the Group has provisions of NOK 7 million (2021: NOK 10 million) for potential future losses on specific trade receivables. The loss provision represents the total expected credit loss based on individual assessments of specific trade receivables at the reporting date. The age distribution of the Group\u2019s trade receivables is specified in Note 15.The maximum exposure to credit risk at the reporting date is the carrying value of each classof financial assets disclosed in note 23.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1339-3": {
"value": "Liquidity riskLiquidity risk is the risk that the Group will be unable to meet its financial obligations when they are due, and that financing will not be available at a reasonable price. The central management team and the local managers of subsidiaries monitor the Group\u2019s liquid resources and credit facilities through revolving forecasts based on the expected cash flow. The Group\u2019s operations are impacted by seasonal fluctuations, since a large portion of the Group\u2019s operations consist of railroad work. Railroad work is performed to a lesser extent in winter during frost and when the surface of the earth is covered in snow. The Group normally ties up working capital when the activity is increasing.The Group had NOK 672 million in liquid reserves at the end of the year, compared with NOK 826 million in liquid reserves at the end of the previous year. Restricted bank deposits totalled NOK 0 million (2021: NOK 0 million) and total cash were NOK 472 million (2021: NOK 626 million). Additionally, the Group had an unused credit facility of NOK 200 million at year-end, the same as at the end of the previous year. The Group has a multi-currency cash pool administrated by Danske Bank, increasing the availability to the cash reserves for almost all subsidiaries.Total short-term interest-bearing debt including leasing liabilities at the year-end that are due to be paid during 2023 amounts to NOK 328 million (2021: NOK 319 million to be paid in 2022).Moreover, the Group has total current liabilities excluding interest-bearing debt as of 31 December 2022, totalling NOK 1,445 million (2021: NOK 1,422 million). Total current assets amounted to NOK 1,927 million compared to NOK 2,013 million last year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1363-3": {
"value": "Capital managementThe purpose of the Group\u2019s capital management is to ensure a predictable financial framework for operations and provide shareholders with a return according to our dividend policy.The Group\u2019s capital structure considers the required financial flexibility to execute strategic plans, to handle existing debt financing arrangements as well as working capital needs and to provide necessary funds for dividend payment. The long-term ambition is to have a leverage ratio below 2.5. The ratio at year end was 2.8. The Group manages its capital structure and makes changes based on an ongoing assessment of the current economic condition and the outlook for both the short and medium term. Capital management is amongst other monitored based on available cash and net interest-bearing debt, as well as the Group\u2019s leverage ratio, interest cover ratio and equityratio. For more information about capital management considerations, see separate section under liquidity risk above and note 19.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1379-2": {
"value": "Note 25:InventoriesInventory relates to the Finish operations. No write-downs have been made to inventory in 2022. Inventories have been pledged for short- and long-term loans, see note 22.(Amounts in NOK million)2022 2021Raw materials and materials for resale 21 15Finished goods 8 13Total inventories 29 28",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1381-3": {
"value": "Accounting policyInventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, first-out method. The cost of finished goods and work-in-progress comprises raw materials, direct labour, other direct costs and related production overheads (based on normal operating capacity). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1391-2": {
"value": "Note 26:Disputes and claims related to projectsThrough its ongoing operations, the Group is involved in disputes with customers regarding the interpretation and understanding of contracts and agreements. This applies in particular to complex and large projects where the contract terms can be challenging. The Group strives to resolve these kinds of disputes outside court whenever possible, but some cases may nevertheless have to be decided by arbitration or in court. Disputes can be the Group\u2019s claims on customers and/or customers\u2019 claims on the Group. Comprehensive assessments are conducted in connection with disputed claims to ensure the most correct revenue and/ or expense recognition. In 2022, the Group lost a lawsuit against the prior owners of Signal och Banbyggarna i Dalarna AB, a company acquired in 2017. The case has been appealed by the Group. At year-end the Group has no ongoing legal or arbitration proceedings that is assumed can have any significant negative effects on the Group\u2019s financial position.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1406-2": {
"value": "Note 27:Subsidiaries, associates and joint ventures The following directly and indirectly owned subsidiaries are included in the consolidated accounts. All entities are owned 100% unless otherwise noted.NRC Group Holding AS, NorwayNRC Norge Holding AS, Norway NRC Norge AS, Norway 1NRC Gravco AS, Norway1Septik Tank Co AS, NorwayNRC Kept AS (previously: Norsk Saneringsservice AS), NorwayGunnar Knutsen AS, NorwayAsker Milj\u00f8park AS, NorwayNRC Vedlikehold AS, NorwayNordic Railway Construction AB, Sweden Nordic Railway Construction Sweden AB, Sweden Signal & Banbyggarna i Dalarna AB, SwedenJ\u00e4rnv\u00e4gskonsulterna Bolln\u00e4s AB, Sweden2G\u00e4strike Signal & Projektering AB, SwedenBlom Sweden AB, SwedenNordic Railway Construction Underh\u00e5ll AB, SwedenNRC Holding Finland Oy, FinlandNRC Group Finland Oy, Finland1) NRC Gravco AS and Septik Tank Co AS have been disposed in Q1 2023.2) G\u00e4strike Signal & Projektering AB was 80% owned by NRC AB per 31 December 2022. The remaining 20% share was acquired in Q1 2023. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1406-3": {
"value": "Note 27:Subsidiaries, associates and joint ventures The Group has a 20% interest sharing risks and rewards of two larger projects (E04 Station Haga, and E03 Kvarnberget) with Webuild (40%) and G\u00fclermak (40%) in connection with Station Haga in Gothenburg, through the associated company AGN Haga AB. The projects commenced during 2018/2019 and are complex with substantial risk. The Group is represented in the board of the company but is not operationally involved in any of the projects. In Q1 2023, AGN Haga AB received a termination notice from Trafikverket in relation to E04 Station Haga. The contract in relation to Kvarnberget (E03) is not part of the termination notice.Webuild, G\u00fclermak and Nordic Railway Construction Sverige AB have given surety to Trafikverket related to AGN Haga\u2019s execution of project E03 Kvarnberget.During 2022, NRC Group has made capital contribution of SEK 15 million to AGN Haga AB, representing NRC Group\u2019s pro-rata share of the total capital contributions, to support working capital in AGN Haga AB. Due to substantial uncertainty in the projects, all capital contributions of SEK 15.5 million have been impaired in 2022, and the book value of AGN Haga AB in the Group\u2019s annual accounts at 31 December 2022 is NOK 0 million. Due to the write-down to a book value of NOK 0 million, the share of net income from AGN Haga AB has not been recognised in NRC Group accounts.A summary of the financial information of AGN Haga AB, based on 100% figures:The associated company had no discontinued operations or other comprehensive income in2022 or 2021.(Amounts in NOK million)2022 2021Total revenue 1,413 1,204Net profit for the year 123 9The Group's calculated share of the net profit (20%) 25 2Provisions made in the Group accounts -25 -2The Group's reported share of the net profit 0 0Summary of financial information cont.(Amounts in NOK million)2022 2021Current assets 704 330Non-current assets 61 90Current liabilities 477 342Non-current liabilities 34 16Equity 253 62The Group's calculated share of equity (20%) 51 12Accumulated provisions made in the Group accounts -51 -12Book value 31.12 0 0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1429-2": {
"value": "The Group also has an investment in an associated company. The investment is accounted for according to the equity method. The Group has a 20% interest sharing risks and rewards of two larger projects (E04 Station Haga, and E03 Kvarnberget) with Webuild (40%) and G\u00fclermak (40%) in connection with Station Haga in Gothenburg, through the associated company AGN Haga AB. The projects commenced during 2018/2019 and are complex with substantial risk. The Group is represented in the board of the company but is not operationally involved in any of the projects. In Q1 2023, AGN Haga AB received a termination notice from Trafikverket in relation to E04 Station Haga. The contract in relation to Kvarnberget (E03) is not part of the termination notice.Webuild, G\u00fclermak and Nordic Railway Construction Sverige AB have given surety to Trafikverket related to AGN Haga\u2019s execution of project E03 Kvarnberget.During 2022, NRC Group has made capital contribution of SEK 15 million to AGN Haga AB, representing NRC Group\u2019s pro-rata share of the total capital contributions, to support working capital in AGN Haga AB. Due to substantial uncertainty in the projects, all capital contributions of SEK 15.5 million have been impaired in 2022, and the book value of AGN Haga AB in the Group\u2019s annual accounts at 31 December 2022 is NOK 0 million. Due to the write-down to a book value of NOK 0 million, the share of net income from AGN Haga AB has not been recognised in NRC Group accounts.A summary of the financial information of AGN Haga AB, based on 100% figures:The associated company had no discontinued operations or other comprehensive income in2022 or 2021.(Amounts in NOK million)2022 2021Total revenue 1,413 1,204Net profit for the year 123 9The Group's calculated share of the net profit (20%) 25 2Provisions made in the Group accounts -25 -2The Group's reported share of the net profit 0 0Summary of financial information cont.(Amounts in NOK million)2022 2021Current assets 704 330Non-current assets 61 90Current liabilities 477 342Non-current liabilities 34 16Equity 253 62The Group's calculated share of equity (20%) 51 12Accumulated provisions made in the Group accounts -51 -12Book value 31.12 0 0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1434-3": {
"value": "Accounting policyAn associated company is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The Group\u2019s investments in associates are accounted for using the equity method.A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group\u2019s investments in joint venture are accounted for, using the equity method.Under the equity method, the investment is initially recognised at cost. The carrying amount of the investment is adjusted to recognise changes in the Group\u2019s share of net assets of the associate or joint venture since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate or joint venture. Any change in OCI of those investeesis presented as part of the Group\u2019s OCI. In addition, when there has been a change recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1435-4": {
"value": "An associated company is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The Group\u2019s investments in associates are accounted for using the equity method.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1440-4": {
"value": "A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group\u2019s investments in joint venture are accounted for, using the equity method.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1484-2": {
"value": "Note 28:Related party disclosuresNote 27 provides information about the Group\u2019s structure, subsidiaries and associated companies. Note 17 provides information about the shareholders. No shareholders consider the Group as an associated company. Note 6 and 7 discloses the management and Board of Directors of the Group, including their benefits and any other transactions with the Group.NRC Group ASA may have agreements with Board members for consultancy services related to certain internal projects such as acquisitions and management recruitment. The agreements are based on hourly rates and are carried out on arm\u2019s length terms. Currently, there exists one agreement with Mats Williamson. Total expense amounted to NOK 0.2 million for 2022 based on hourly rates of SEK 1,500. Except for this, no significant related party transactions exist. Any related party transactions are carried out on arm\u2019s length terms.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-1499-2": {
"value": "Note 29:Subsequent eventsOn 20 January 2023, an agreement to sell NRC Gravco AS and Septik Tank CO AS to Norva24 AS was completed. The transaction was made in accordance with NRC Group\u2019s strategy to focus on its core business, and the expected net proceeds of approximately NOK 110 million will further improve the financial and strategic flexibility and be used according to our NRC Group\u2019s capital allocation priorities. The net gain to be recognised is estimated to be approximately NOK 40 million and will be reported as part of \u201cother income and expenses\u201d in the Q1 report.AGN Haga, where NRC Group owns 20% of the shares, received on January 24, a termination notice from Trafikverket in relation to Station Haga in Gothenburg (E04). The contract in relation to Kvarnberget (E03) is not part of the termination notice. NRC Group is represented in the board of AGN Haga, without being operationally involved inthe projects. The book value of AGN Haga in the NRC Group\u2019s accounts is unchanged at NOK 0 million.On 14 February 2023, an Amendment and Restatement Agreement related to the existing facilities agreement with Danske Bank was signed. Changes in the Agreement concern a reduction of annual instalments, a postponed final settlement date to 8 July 2024 and increased leverage ratio covenant with 0.25 for the period Q4 2022 until Q4 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f39338": {
"value": "NRC Group ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f39339": {
"value": "NRC Group ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXI5D463",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}