ANNUAL REPORT 2021
LUNDBECK
ANNUAL REPORT 2021
= CONTENTS
FINANCIAL STATEMENTS OF THE PARENT COMPANY
NOTES 4-6
4 FINANCIAL INCOME AND EXPENSES
Deferred tax balances
98/111
Financial income
Financial expenses
Net financials, expenses/(income)
2021
2020
DKKm
DKKm
Temporary differences between assets and liabilities as
stated in the financial statements and in the tax base
256
743
617
273
Intangible assets
361
(470)
Property, plant and equipment
In 2021, out of total financial income and expenses, DKK 246 million (DKK 233 million in 2020) and DKK 49
million (DKK 56 million in 2020), respectively, are related to intra-group interest income and expenses.
Financial income and financial expenses are impacted by a net exchange loss of DKK 163 million relating to
translation of receivables from and payables to subsidiaries that are considered part of the overall investment
in subsidiaries. Further, financial income and financial expenses are impacted by a loss of DKK 127 million
relating to the translation of external loans used for hedging net investments in foreign operations in the U.S.
Inventories
Other items
Tax loss carryforwards etc.
Total temporary differences
Deferred (tax assets)/tax liabilities
1 January
DKKm
Balance at
Adjustment of
deferred
tax at
beginning
of year
DKKm
Movements
during
the year
Balance at
31 December
DKKM
DKKm
3,715
68
1,025
4,808
471
(68)
28
431
350
13
363
(381)
(119)
(500)
(3,532)
210
(695)
(4,017)
623
210
252
1,085
137
47
55
239
The major assumptions relating to the recognition and measurement of tax assets are described in
note 5 Income taxes in the consolidated financial statements.
5 INCOME TAXES
Tax on profit for the year
Current tax, joint taxation contribution
Prior-year adjustments, current tax
Prior-year adjustments, deferred tax
Change in deferred tax for the year
Total tax for the year
2021
2020
DKKM
DKKm
Movements in deferred tax
137
178
Balance at 1 January
2021
DKKm
2020
DKKm
Movements related to transactions recognized in profit or loss
Balance at 31 December
102
(41)
239
137
3
12
(51)
(2)
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(49)
6 DISTRIBUTION OF PROFIT
(31)
Tax for the year is composed of:
Proposed distribution of profit for the year
Tax on profit for the year
127
(80)
Proposed dividends for the year
Tax on transactions in equity
(73)
49
Transferred to/from distributable reserves
Total tax for the year
54
(31)
Total profit for the year
Proposed dividend per share (DKK)
See note 12 Equity in the consolidated financial statements for details on treasury shares.
2021
2020
DKKm
DKKm
398
498
422
217
820
715
2.00
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