Novo Nordisk Annual Report 2021
Contents
Introducing Novo Nordisk
Strategic Aspirations
Key risks Management
Consolidated statements
Additional information
Novo Nordisk Annual Report 2021 73
Therefore, the transaction is treated as a collateralised lending arrangement.
Where substantially all the risks and rewards of ownership are retained in
financial assets that have been transferred, the assets are not derecognised
and the proceeds obtained are recognised as a financial liability.
For fair value determination please refer to note 4.9.
4.7 Other non-cash items
4.8 Change in working capital
DKK million
2021
2020
2019
DKK million.
2021
2020
2019
Reversals of non-cash income
statement items
Inventories
(1,085)
(895)
(1,305)
Trade receivables
(12,909)
(2,822)
(2,126)
4.6 Cash and cash equivalents
Interest income and interest
expenses, net (note 4.10)
Other receivables and
58
53
155
prepayments
(469)
(419)
(1,190)
Capital gain/(loss) on investments,
net. etc (note 4.10)
(340)
195
145
Trade payables
3,153
(641)
(398)
Other liabilities
2,595
1,274
Cash and cash equivalents
Result of associated companies
(note 4.10)
1,202
24
(149)
137
Adjustment for payables related to
DKK million
2021
2020
2019
Share-based payment costs
non-current assets
(15)
879
295
Cash at bank (note 4.3)
10,720
12,757
15,475
(note 5.1)
1,040
823
363
Adjustment related to acquisition
of businesses
(1,409)
Borrowings (note 4.5)
(1)
(531)
(64)
Increase/(decrease) in provisions
Cash and cash equivalents
10,719
12,226
15,411
(note 3.4) and retirement benefit
obligations
Adjustment related to divestment
16,581
3,605
6,071
of Group companies
(42)
1. Bank overdrafts includes DKK 358 million classified as financing activities
(DKK 576 million in 2020) and DKK 1 million classified as cash and cash equivalents
(DKK 531 million in 2020).
Cash and cash equivalents at 31 December 2021 includes DKK 1,123 million
that is restricted (DKK 653 million in 2020). The restricted cash balance
relates to subsidiaries in which availability of currency for remittance of
funds is temporarily scarce.
Accounting policies
Cash and cash equivalents consists of cash offset by short-term bank
overdrafts. Where short-term bank overdrafts are consistently overdrawn,
they are excluded from cash and cash equivalents. The movement in such
facilities is presented under financing activities in the cash flow statement.
Other
(4,354)
3,322
161
Change in working capital
including exchange rate
Total other non-cash items
13,009
7,849
7,032
adjustments
(10,139)
(2,624)
(3,564)
Exchange rate adjustments
1,483
(1,729)
176
Cash flow change in working
capital
(8,656)
(4,353)
(3,388)View entire presentation