Notes for
the Parent
Company
01 Basis of Preparation
1.1 Accounting policies 56
1.2 Estimates and judgements 56
1.3 Events after the balance sheet date 56
02 Results for the Year
2.1 Operating revenue 56
2.2 Payroll expenses 57
2.3 Other operating expenses 57
03 Invested Capital and Working Capital Items
3.1 Intangible assets 57
3.2 Property, plant and equipment 58
3.3 Inventories 58
3.4 Trade and other receivables 58
3.5 Other current liabilities 59
3.6 Provisions 59
3.7 Contingent liabilities 59
3.8 Contractual obligations and guarantees 59
04Capital Structure and Financial Items
4.1 Interest-bearing debt 60
4.2 Cash and cash equivalents 60
4.3 Net financial items 60
4.4 Financial risk management 61
05Invested Capital and Working Capital Items
5.1 Taxation 61
5.2 Pensions and other long-term employee benefits 62
5.3 Remunerations 63
5.4 Leases 63
5.5 Related parties 64
5.6 Subsidiaries 65
5.7 Shares in joint ventures and associated companies 66
5.8 Financial investments 67
5.9 Share capital and shareholder information 67
Jotun Annual Report 2020 I 55
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Jotun A/S