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• General information, basis for preparation of the financial statements and other explanatory information
  • 1. General information
    • 1.1 Information about the parent company
    • 1.2 Information about the PGE Group
    • 1.3 Structure of the PGE Group
    • 1.4 Acquisition of a jointly controlled entity
  • 2. Basis for preparation of the financial statements
    • 2.1 Statement of compliance
    • 2.2 Presentation and functional currency
    • 2.3 New standards and interpretations published, not yet effective
    • 2.4 Professional judgment of management and estimates
  • 3. The analysis of impairment of property, plant and equipment, intangible assets and goodwill
    • 3.1 The analysis of impairment of power generating assets of Conventional Generation segment
    • 3.2 The analysis of impairment of the power generating assets of Renewables segment
    • 3.3 Property, plant and equipment in Distribution segment
  • 4. Significant accounting principles applied
  • 5. Changes of accounting principles and data presentation
• Explanatory notes to the consolidated financial statements
• Explanatory notes to the operating segments
  • 6. Information on operating segments
    • 6.1 Information on business segments
    • 6.2 Information on geographical areas
• Explanatory notes to the consolidated statement of comprehensive income
  • 7. Revenues and expenses
    • 7.1 Sales revenues
    • 7.2 Cost by nature and function
    • 7.3 Other operating income and expenses
    • 7.4 Financial income and expenses
    • 7.5 Share of profit of associates and entities jointly controlled entities accounted for under the equity method
  • 8. Income tax
    • 8.1 Tax in the statement of comprehensive income
    • 8.2 Effective tax rate
• Explanatory notes to the consolidated statement of financial position
  • 9. Property, plant and equipment
  • 10. Investment property
  • 11. Intangible assets
  • 12. Shares in associates accounted for under the equity method
  • 13. Deferred tax in the statement of financial position
    • 13.1 Deferred tax asset
    • 13.2 Deferred tax liability
  • 14. Inventories
  • 15. CO2 emission rights for captive use
  • 16. Other current and non-current assets
    • 16.1 Other non-current assets
    • 16.2 Other current assets
  • 17. Cash and cash equivalents
  • 18. Discontinued operations
  • 19. Assets and liabilities of the Social Fund
  • 20. Equity
    • 20.1 Share capital
    • 20.2 Hedging reserve
    • 20.3 Foreign exchange differences from translation of foreign entities
    • 20.4 Reserve capital
    • 20.5 Retained earnings and limitations to payment of a dividend
    • 20.6 Equity attributed to non-controlling interests
    • 20.7 Earnings per share
    • 20.8 Dividends paid and dividends declared
  • 21. Provisions
    • 21.1 Rehabilitation provision
    • 21.2 Provision for deficit of CO2 emission rights
    • 21.3 Provision for energy origin rights held for redemption
    • 21.4 Provision for non-contractual use of property
    • 21.5 Other provisions
  • 22. Employee benefits
    • 22.1 Post-employment benefits and jubilee awards
    • 22.2 Other provisions for employee benefits
  • 23. Deferred income and governments grants
    • 23.1 Non-current deferred income and government grants
    • 23.2 Current deferred income and government grants
  • 24. Other non financial liabilities
• Explanatory notes to financial instruments
  • 25. Financial instruments
    • 25.1 Description of significant items within particular classes of financial instruments
    • 25.2 Fair value of financial instruments
    • 25.3 Fair value hierarchy
    • 25.4 Statement of comprehensive income
    • 25.5 Collaterals for repayment of receivables and liabilities
  • 26. Objectives and principles of financial risk management
    • 26.1 Liquidity risk
    • 26.2 Interest rate risk
    • 26.3 Currency risk
    • 26.4 Price risk
    • 26.5 Credit risk
    • 26.6 Market (financial) risk – sensitivity analysis
    • 26.7 Hedge accounting
• Explanatory notes to the statement of cash flows
  • 27. Statement of cash flows
• Other explanatory notes
  • 28. Contingent liabilities and receivables. Legal claims
  • 29. Future investment commitments
  • 30. Lease
  • 31. Tax settlements
  • 32. Information on related parties
  • 33. Significant events of the reporting period and subsequent events
    • 33.1 Termination of long term contracts LTC
    • 33.2 Agreement on financial investment in Polska Grupa Górnicza sp. z o.o.
    • 33.3 Submission of an initial offer with partners for EDF assets in Poland
    • 33.4 Overburden slide at an internal heap in the Turów lignite mine
    • 33.5 Capital investment in Polimex-Mostostal S.A.

 

	Note	As at December 31, 2016	As at December 31, 2015
NON-CURRENT ASSETS
Property, plant and equipment	9	51,365	47,068
Investment property	10	27	30
Intangible assets	11	653	904
Financial receivables	25.1.1	237	142
Derivatives	25.1.2	356	43
Available-for-sale financial assets	25.1.3	37	15
Shares accounted for using the equity method	12	402	8
Other non-current assets	16.1	730	1,063
Deferred tax assets	13.1	268	313
		54,075	49,586
CURRENT ASSETS
Inventories	14	1,596	1,959
CO2 emission rights for own use	15	2,349	2,172
Income tax receivables		19	101
Derivatives	25.1.2	9	7
Trade and other financial receivables	25.1.1	6,325	3,748
Available-for-sale financial assets	25.1.3	4	4
Other current assets	16.2	416	599
Cash and cash equivalents	17	2,669	3,104
Assets classified as held-for-sale		12	16
		13,399	11,710
TOTAL ASSETS		67,474	61,296
EQUITY
Share capital	20.1	19,165	18,698
Hedging reserve	20.2	147	(21)
Foreign exchange differences from translation of foreign entities	20.3	3	(1)
Reserve capital	20.4	13,730	13,009
Retained earnings	20.5	9,634	8,636
EQUITY ATTRIBUTED TO EQUITY HOLDERS OF THE PARENT COMPANY		42,679	40,321
Non-controlling interests	20.6	96	96
TOTAL EQUITY		42,775	40,417
NON-CURRENT LIABILITIES
Non-current provisions	21	5,004	6,044
Loans, borrowings, bonds and lease	25.1.4	9,603	5,118
Derivatives	25.1.2	30	55
Deferred tax liabilities	13.2	1,191	852
Deferred income and government grants	23.1	1,141	1,192
Other financial liabilities	25.1.5	33	34
		17,002	13,295
CURRENT LIABILITIES
Current provisions	21	2,181	1,809
Loans, borrowings, bonds and lease	25.1.4	411	291
Derivatives	25.1.2	-	34
Trade and other financial liabilities	25.1.5	3,556	3,945
Income tax liabilities		6	5
Deferred income and government grants	23.2	119	112
Other current non-financial liabilities	24	1,424	1,388
		7,697	7,584
TOTAL LIABILITIES		24,699	20,879
TOTAL EQUITY AND LIABILITIES		67,474	61,296

consolidated_statement_of_financial_position.xlsx