262067232014-01-012014-12-31262067232014-01-012014-12-31Direktionsmedlem 1262067232014-01-012014-12-31Bestyrelsesmedlem 1262067232014-01-012014-12-31Bestyrelsesmedlem 2262067232014-01-012014-12-31Bestyrelsesmedlem 3262067232014-12-31262067232013-12-31262067232013-01-012013-12-31262067232014-12-31fsa:AcquiredPatentsMember262067232013-12-31fsa:AcquiredPatentsMember262067232014-01-012014-12-31fsa:AcquiredPatentsMember262067232014-12-31fsa:FixturesFittingsToolsAndEquipmentMember262067232013-12-31fsa:FixturesFittingsToolsAndEquipmentMember262067232014-01-012014-12-31fsa:FixturesFittingsToolsAndEquipmentMember262067232014-12-31fsa:OtherReceivablesMember262067232013-12-31fsa:OtherReceivablesMember262067232014-01-012014-12-31fsa:OtherReceivablesMember262067232014-12-31fsa:OtherLongtermDebtRaisedByIssuanceOfBondsMember262067232013-12-31fsa:OtherLongtermDebtRaisedByIssuanceOfBondsMember262067232014-01-012014-12-31fsa:RetainedEarningsMember262067232013-01-012013-12-31fsa:RetainedEarningsMember262067232014-01-012014-12-31fsa:RetainedEarningsMember262067232014-12-31fsa:ContributedCapitalMember262067232013-12-31fsa:ContributedCapitalMember262067232014-12-31fsa:RetainedEarningsMember262067232013-12-31fsa:RetainedEarningsMember262067232014-12-31Kapitalklasse 01262067232014-12-31cmn:PreviousYearMemberfsa:ContributedCapitalMember262067232014-12-31cmn:FourYearsAgoMemberfsa:ContributedCapitalMember262067232014-01-012014-12-31cmn:PreviousYearMemberfsa:ContributedCapitalMember262067232014-01-012014-12-31cmn:FourYearsAgoMemberfsa:ContributedCapitalMember262067232014-12-31cmn:TwoYearsAgoMemberfsa:ContributedCapitalMember262067232014-12-31cmn:ThreeYearsAgoMemberfsa:ContributedCapitalMember262067232014-01-012014-12-31Revisionsvirksomhed 01262067232014-01-012014-12-31Revisor 01iso4217:DKKsharesADTC provides technical and administrative support to its ultimate parent, Altera Corporation. ADTC also grants rights and licences to Altera Corporation, Altera International Limited and Altera European Trading Co Ltd and gains royalty income from these activities.The Altera organisation continues to accelerate and expand its Optical Transport Network (“OTN”) solutions roadmap to support the increasing pipeline of customer designs. The Altera organisation is leading the OTN industry’s evolution beyond 100G by delivering flexible solutions not possible in Application-Specific Standard Products (“ASSPs”) with increased levels of performance and integration. ADTC technology and engineers allow the Altera organisation to rapidly provide customers with flexible, scalable solutions in a fastgrowing market with changing protocols and evolving standards. Revenue and other operating income for the period is DKK 50.5 million. Gross profit amounts to DKK 44.8 million. Profit for the financial period is DKK 9.6 million. Altera Denmark Technology Centre A/S continues to focus on research and development activities which will result in an increase of expenses. No further events that would influence the evaluation of this annual report have occurred after the balance sheet date to this date.Mutema PittmanThe Board of Directors and the Executive Board have today considered and approved the annual report of Altera Denmark Technology Centre A/S for the financial year 01.01.2014 - 31.12.2014.The annual report is presented in accordance with the Danish Financial Statements Act.We recommend the annual report for adoption at the Annual General Meeting.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.Dermot HargadenJeff WatersMutema PittmanChief Executive Officer17494616300080771412660002411009810765000284607541603700035429424006000249178121203100066392710830002704069276000017494616300029600041014930904469900088521271000276658172486700090900087462212000007500067441883400013831665146040003324431195266972450007682849636000299092100081792409000447721202119200010009073-10810009957190-14690009624747-14690003284846220526000188523112000This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of certain provisions for reporting class C.Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Intellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets. Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised over their remaining duration, and licences are amortised over the term of the agreement, but over no more than 20 years. Intellectual property rights etc are written down to the lower of recoverable amount and carrying amount. The cost of property, plant and equipment comprises the purchase price plus any expenses related to the acquisition. Depreciation is provided at rates calculated to write off the cost of each asset on a straight line basis over its expected useful life as follows: Computer hardware and software 3 years Fixtures fittings and operation equipment 5 years Receivables are measured at amortised cost, usually equaling nominal value after bad debts writeoff, VAT receivables and intercompany receivables balances. Receivables are measured at amortised cost, usually equaling nominal value after bad debts writeoff, VAT receivables and intercompany receivables balances. Current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this year's taxable income, adjusted for prepaid tax.Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost. Cash comprises cash in hand and bank deposits. 12579671258000-594040-175000419322505957838090001439417-189391-2355509-1049000130642317494616300011766Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value.For financial period 2013 only, revenue is recognized in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Another type of revenue being recognized represents the invoiced value of services (less value added tax and trade discounts) provided to fellow group enterprises on a cost plus percentage basis under a service agreement. Other external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. Other financial income comprises of bad debt written off and prior year income recognized from royalty revenue from customer. Other financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, late payment interest, bank related charges, offset with net capital gain on payables and transactions in foreign currencies. Tax for the period, which consists of current tax for the period and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the period and recognised directly in equity by the portion attributable to entries directly in equity. The Company has considerable tax assets of approximately DKK 34.575 thousand due to tax losses generated in prior years. The tax assets are not recognised in the financial statements. Staff costs comprise salaries and wages as well as social security contributions, pension contributions, etc. for Entity staff. Amortisation, depreciation and impairment losses relating to property, plant and equipment comprise amortisation, depreciation and impairment losses for the financial period, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment. No impairment loss was recognised in financial period 2014 or 2013. 8746221200000-3324433090446990002014-12-312014-01-012015-05-2826206723Altera Denmark Technology Centre A/SHerlev, Denmark2015-05-28Morten SkjønnemandIn our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2014 and of the results of its operations for the financial year 01.01.2014 - 31.12.2014.2015-05-28Copenhagen 2014 DKK 2013 DKK'000     Holiday allowance 5.673.360 4.638 Accrued acquisition compensation 3.443.228 1.041 Accrued bonus 2.600.645 796 Tax related expenses 23.220 30 Other 212.216 740 11.952.669 7.245 Current liabilities total 2014 Falling due within 12 months 2014 Falling due after 12 months DKK DKK DKK       Other payables concentrated by the issuance of bonds 874.622 874.622 0 874.622 874.622 0       The Entity has concluded a lease on the premises at Hørkær 12, Herlev, Denmark. The annual rent is DKK 1.391 thousand. The lease may be terminated at 6 months’ notice. As security for the lease commitments, the Entity has provided a bank guarantee of DKK 531thousand.The Entity has provided collateral of DKK 1.516 thousand to the owners of employee bonds. At January 1 2014 the Entity had tax assets of DKK 40.829 thousand due to tax losses generated in prior years. The tax assets at 31.12.2014 are DKK 34.531 thousand. The tax assets are not recognised in the financial statements. 33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgade Postboks 16000900 København CDenmark36 10 20 306639271083000270406927600002846075416037000794937-88300009629601596296000-95501078-105126000909000276658172395800042816159272430009624747-146900057268886687000330369852063800017260621635000-3324439624747-14690009624747-146900096247479629601596296000-95501078-105126000Ordinary shares9629601596296015Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and additional requirements under Danish audit regulation. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Entity's preparation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.Our audit has not resulted in any qualification. In our opinion, the financial statements give a true and fair view of the Company’s financial position at 31.12.2014 and of the results of its operations for the financial year 01.01.2014 - 31.12.2014 in accordance with the Danish Financial Statements Act. Pursuant to the Danish Financial Statements Act, we have read the management commentary. We have not performed any further procedures in addition to the audit of the financial statements. On this basis, it is our opinion that the information provided in the management commentary is consistent with the financial statements. Prepayments received from customers comprise amounts received from customers prior to delivery of the goods agreed or completion of the service agreed. The Company has registered the following shareholders to hold more than 5% of the voting share capital or of the nominal value of the share capital: Altera European Trading Co LtdÅrsrapport270406927600006639271083000174946163000Regnskabsklasse BTo the owners of Altera Denmark Technology Centre A/SWe have audited the financial statements of Altera Denmark Technology Centre A/S for the financial year 01.01.2014 - 31.12.2014, which comprise the accounting policies, income statement, balance sheet, statement of changes in equity and notes. The financial statements are prepared in accordance with the Danish Financial Statements Act. 9629601474911744121384270Copenhagen2015-05-28962960149629601496296015Hørkær12 A2730Herlev33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgade60900København CAnders O. GjelstrupState Authorised Public Accountant9629601596296015119526697245000On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date, or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Other operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including royalty income which derives from rights and licenses granted to Altera Corporation, Altera International Limited, and Altera European Trading Co Ltd by ADTC.RevisionspåtegningThe accounting policies applied for these financial statements are consistent with those applied last year.