Annual report and accounts 2012

Consolidated Statements of Financial Position

OAO Severstal and Subsidiaries
Financial Statements
Consolidated Statements of Financial Position

December 31, 2012, 2011 and 2010
(Amounts expressed in thousands of US dollars, except as otherwise stated)

NoteDecember 31, 2012December 31, 2011December 31, 2010
Assets    
Current assets:    
Cash and cash equivalents121,726,2751,863,5382,012,662
Short-term bank deposits13--12,690
Short-term financial investments1423,77810,50027,463
Trade accounts receivable151,040,5671,219,961967,837
Accounts receivable from related parties1115,46827,34912,359
Restricted financial assets --41,313
Inventories162,352,8982,519,1542,369,134
VAT recoverable 214,419193,885279,626
Income tax recoverable 21,16990,91639,578
Other current assets17302,120327,163298,183
Assets held for sale27-2,677,3103,509,882
Total current assets 5,696,6948,929,7769,570,727
Non-current assets:    
Long-term financial investments18108,060182,262204,542
Investments in associates and joint ventures19316,503301,315158,564
Property, plant and equipment208,462,7117,463,3947,299,849
Intangible assets21820,935770,4541,930,942
Restricted financial assets 32,97022,63861,714
Deferred tax assets9100,79699,651103,777
Other non-current assets 168,546140,30178,266
Total non-current assets 10,010,5218,980,0159,837,654
Total assets 15,707,21517,909,79119,408,381
Liabilities and shareholders' equity    
Current liabilities:    
Trade accounts payable 1,057,6211,115,110897,389
Accounts payable to related parties1136,2341,583,03116,717
Short-term debt finance221,382,1281,185,4671,423,551
Income taxes payable 16,60428,08641,230
Other taxes and social security payable 152,590141,353156,078
Dividends payable 86,538111,20817,131
Other current liabilities23637,947655,420554,577
Liabilities related to assets held for sale27-550,1233,272,354
Total current liabilities 3,369,6625,369,7986,379,027
Non-current liabilities:    
Long-term debt finance224,327,4124,790,6314,722,926
Deferred tax liabilities9338,078287,126515,071
Retirement benefit liabilities24201,552161,734164,555
Other non-current liabilities25255,268233,179277,149
Total non-current liabilities 5,122,3105,472,6705,679,701
Equity:    
Share capital262,752,7283,311,2883,311,288
Treasury shares (235,657)(1,586,293)(26,303)
Additional capital 315,9221,165,5301,165,530
Foreign exchange differences (411,658)(642,228)(297,219)
Retained earnings 4,767,3254,386,4612,805,232
Other reserves 5,80044,73876,411
Total equity attributable to shareholders of OAO Severstal 7,194,4606,679,4967,034,939
Non-controlling interests 20,783387,827314,714
Total equity 7,215,2437,067,3237,349,653
Total equity and liabilities 15,707,21517,909,79119,408,381

The accompanying notes form an integral part of these consolidated financial statements.