Investor Presentaiton
82
A.P. Moller-Maersk Annual Report 2020
Financials
Consolidated financial statements
Notes index
Note 10 Discontinued operations and assets held for sale or distribution
Table 10.1
2020
2019
Profit/loss for the period - discontinued operations
Revenue
Expenses
Negative fair value adjustment
Profit/loss before tax, etc.
Profit/loss for the year - discontinued operations
A.P. Møller-Mærsk A/S' share of profit/loss
Earnings per share
Diluted earnings per share
Cash flows from discontinued operations
Cash flow from operating activities
Cash flow used for investing activities
Cash flow from financing activities
Net cash flow from discontinued operations
Table 10.2
Balance sheet items comprise:
Intangible assets
Property, plant and equipment
Other assets
Non-current assets
Current assets
Assets held for sale or distribution
Provisions
III
308
233
628
-553
-553
-553
-27
-27
137
-488
-21
-372
2020
2019
39
7
94
135
54
187
142
31
7
218
149
1
Deferred tax liabilities
13
1
Other liabilities
78
73
Liabilities associated with assets held for sale or distribution
91
75
Amounts in USD million =
Table 10.1, table 10.2 and table 10.3
There have been no discontinued operations in 2020.
Discontinued operations in 2019 included Maersk Drilling
up to the demerger in April 2019, which concluded the
separation of the energy-related businesses. The results
of the discontinued operations are presented in one sepa-
rate line in the 2019 income statement, balance sheet and
cash flow statement.
In the consolidated financial statements in 2019, the
results for Maersk Drilling are classified under discontin-
ued operations with a net loss of USD 553m in 2019. Total
cash flow from the discontinued operations was USD Om
(positive USD 372m).
Assets held for sale in 2020 largely relate to two terminals
reported as held for sale within Terminals & Towage and
one terminal within Ocean.
The terminal in Ocean was transferred to assets held for
sale in 2019, and an impairment of USD 62m has been
made against the asset in 2020, being the difference be-
tween carrying value and fair value less costs to sell.
Maersk Drilling activity
On 2 April 2019, Maersk Drilling was demerged and listed
separately.
Period ended 2 April 2019
A.P. Moller-Maersk recognised a loss of USD 553m for
the Maersk Drilling activity, mainly due to a negative fair
value adjustment of USD 628m. The cash flow from the
demerger is summarised in Table 10.3.
The fair value of the new listed company of USD 3.4bn
resulted in a negative fair value adjustment of USD 628m
being recognised in Q1 2019. Measurement of the fair
value of the disposal Group was categorised as level 1 in
the fair value hierarchy, as measurement was based on
observable market data.View entire presentation