| Other receivables | ||
|---|---|---|
| (Figures in 1000s of NOK) | 2024 | 2023 |
| Accrued interest loans | 182,645 | 146,545 |
| Accrued interest liquidity placements and vendor credit | 130,816 | 127,205 |
| Vendor credit | 2,360,281 | 2,042,448 |
| Other assets | 62,470 | 46,603 |
| Total other receivables | 2,736,212 | 2,362,800 |
Other receivables consist mainly of interest-bearing vendor credit and accrued interest.
Of vendor credit of NOK 2 360 million, NOK 2 271 (USD 200 million) is associated with Scatec, and is a result of the sale of SN Power. The vendor credit has an interest rate of 3.26% + SOFR up to January 2028. After this the rate increases to 30%. The vendor credit falls due in its entirety in January 2028, with a small repayment of USD 30 million in June 2025.
Accounting principles
Other receivables are carried at the lower of acquisition cost or fair value. A loss allocation is made in the cases where fair value is lower than acquisition cost. Receivables in forex are valued at the exchange rate at the end of the financial year in accordance with Section 5-9 of the Norwegian Accounting Act. Currency effects associated with outstanding vendor credit appear in the accounts under “Value changes investments and receivables”. Interest is recorded as and when it is estimated to be earned and appears as interest income in the income statement. In the event of known losses, recorded interest is reversed. When loans to development projects are classified as problem loans and written down, a decision is taken that interest should not continue to be recorded. When loans are written down, no interest is therefore taken to income.