Page 43 - Kitron Annual Report 2011

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Notes to the consolidated financial statements
(Amounts in NOK 1000)
2011
2010
i) Sale of goods and services
Sale of goods (1)
195 688
230 750
ii) Purchase of goods and services
Purchase of goods (1)
4 421
3 620
iii) Remuneration of senior executives
Pay and other short-term benefits (2)
17 356
18 299
Severance pay
Total
17 356
18 299
iv) Balance items at 31 December resulting from purchase/sale of goods and services
Receivable from related parties
Shareholders (1)
36 146
37 776
Total
36 146
37 776
Payable to related parties:
Senior executives (3)
952
589
Total
952
589
(1)Kongsberg Gruppen ASA owns 19.33 per cent of the shares in Kitron ASA. Purchase and sales of goods
and services consist almost entirely of transactions with Kongsberg Gruppen ASA. All contracts and trans-
actions between companies in the Kitron Group and and Kongsberg Gruppen with subsidiaries are made on
commercial terms at the market price for goods and services.
(2)Senior executives comprise the corporate management team at Kitron ASA. See table below for a more ex-
tensive description of remuneration of senior executives.
(3)The amount at 31 December 2011 comprises accrued bonuses to corporate management team.
Note 28 Related-party transactions