Financial statements

Financial statements of JSW S.A. for 2012

	Geologic information	Other intangible assets	Total
As at 1 January 2011
Gross value	23.3	20.6	43.9
Accumulated depreciation	(7.2)	(17.6)	(24.8)
Net book value	16.1	3	19.1

2011
Net book value at the beginning of the year	16.1	3	19.1
Increases	-	1.5	1.5
Decreases	-	-	-
Depreciation	(1.4)	(1.3)	(2.7)
Net book value	14.7	3.2	17.9
As at 31 Dec 2011
Gross value	23.3	21.9	45.2
Accumulated depreciation	(8.6)	(18.7)	(27.3)
Net book value	14.7	3.2	17.9

2012
Net book value at the beginning of the year	14.7	3.2	17.9
Increases	3.3	0.8	4.1
Decreases	-	-	-
Depreciation	(1.2)	(1.2)	(2.4)
Net book value	16.8	2.8	19.6
As at 31 Dec 2012
Gross value	26.5	22.5	49
Accumulated depreciation	(9.7)	(19.7)	(29.4)
Net book value	16.8	2.8	19.6

JSW S.A. holds the following perpetual usufruct rights which are not recorded in the financial statements:

	31 Dec 2012	31 Dec 2011
Surface area (thous. sqm)	10.970	11.007
Value (PLN million)	77.1	77.6