Investor Presentaiton
Novo Nordisk Annual Report 2023
Introducing Novo Nordisk Strategic Aspirations
Risks
Management
Consolidated statements
Additional information
Section 3
Operating assets
and liabilities
3.1 Intangible assets
Amortisation and impairment losses
DKK million
2023
Cost at the beginning of the year
Additions during the year
Disposals during the year
Effect of exchange rate adjustment
Cost at the end of the year
Amortisation and impairment losses at the beginning of the year
Amortisation for the year
DKK million
2023
2022
2021
Impairment losses for the year
Cost of goods sold
982
846
844
Impairment losses reversed during the year
Sales and distribution costs
9
34
39
Amortisation and impairment losses reversed on disposals during the year
Research and development costs
1,757
1,364
744
Administrative costs
41
Other operating income and expenses
459
100
Effect of exchange rate adjustment
19
11
Amortisation and impairment losses at the end of the year
96
1
Carrying amount at the end of the year
Total amortisation
and impairment losses
3,248
2,359
1,639
2022
Total amortisation
1,834
1,599
1,066
Cost at the beginning of the year
Total impairment losses
1,414
760
573
Goodwill
Intellectual
property
rights
Software
and other
intangibles
Total
intangible
assets
4,615
49,731
5,281
59,627
12,567
500
13,067
(1,629)
(158)
(1,787)
(151)
76
(39)
(114)
4,464
60,745
5,584
70,793
6,737
1,951
8,688
1,621
213
1,834
1,776
20
1,796
(382)
(382)
(1,629)
(16)
(1,645)
102
(6)
96
8,225
2,162
10,387
4,464
52,520
3,422
60,406
4,346
41,802
3,434
49,582
Additions from acquisition of businesses (note 5.3)¹
Additions during the year
Disposals during the year
Effect of exchange rate adjustment'
Cost at the end of the year¹
Amortisation and impairment losses at the beginning of the year
Amortisation for the year
5,766
492
6,258
1,310
1,426
2,736
(151)
(33)
(184)
269
1,004
(38)
1,235
4,615
49,731
5,281
59,627
4,652
1,759
6,411
1,404
195
1,599
Impairment losses for the year
760
760
Amortisation and impairment losses reversed on disposals during the year
(149)
(13)
(162)
Effect of exchange rate adjustment
70
10
80
Amortisation and impairment losses at the end of the year
6,737
1,951
8,688
Carrying amount at the end of the year¹
4,615
42,994
3,330
50,939
1. Comparatives were restated to reflect change in provisional valuation of net identifiable assets from a business combination completed in 2022. Reference is made to note 5.3.
19
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