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4.1 INTEREST-BEARING DEBT
The table below gives an overview of total net interest-bearing debt. Further information is given in Note 4.1 to
the consolidated financial statements.
(NOK million) 31.12.2021 31.12.2020
Non-current interest-bearing debt
Bond 2018-22 (NIBOR+0.7%) NOK - 750
Bond 2018-24 (NIBOR+0.9%) NOK 650 650
Bond 2019-23 (NIBOR+0.93%) NOK 600 600
Bond 2021-26 (NIBOR+0.7%) NOK 300 -
Bond 2021-28 (NIBOR+0.9%) NOK 350 -
Bank debt NIB 2013-24 (USD LIBOR+1.2%), unsecured USD 245 394
Total excl. lease liability 2 145 2 394
Lease liability 53 34
Total 2 198 2 428
Current interest-bearing debt
Bond 2014-21 (fixed rate 3.9 %) NOK 400
Bond 2018-22 (NOBOR+0.7 %) NOK 640
Bank debt NIB 2013-24 (US LIBOR + 1.2 %), unsecured USD 163 158
Other current interest-bearing debt (cash pool) 442 612
Total excl. lease liability 1 245 1 170
Lease liability 16 12
Total 1 261 1 182
Total interest-bearing debt excl. lease liability 3 390 3 564
Total lease liability 70 46
Total interest-bearing debt 3 459 3 610
Non-current interest-bearing receivables 2 084 2 345
Current interest-bearing receivables 148 230
Cash and cash equivalents 1 400 995
Total interest-bearing receivables 3 633 3 570
Net interest-bearing receivables / debt (-) 174 -40
4.2 CASH AND CASH EQUIVALENTS
(NOK million) 31.12.2021 31.12.2020
Cash deposits 372 383
Short-term investments 1 028 613
Total 1 400 995
As of 31 December 2021 Jotun, A/S had NOK 2 000 million (2020: 1 700 million) of undrawn credit facilities
available. See Note 4.1 to the consolidated financial statements.
4.3 NET FINANCIAL ITEMS
Financial income
(NOK million) 2021 2020
Interest income 10 9
Interest income on loans to Jotun entities 79 121
Net foreign exchange gain - -
Other financial income 9 7
Total 99 137
Financial costs
(NOK million) 2021 2020
Interest costs -43 -74
Net foreign exchange loss -19 -149
Impairment of shares in subsidiaries, see Note 5.6 -157 -421
Other financial costs -9 -11
Total -228 -654
Net financial items -129 -517
Exchange gains and losses related to forwards, options and swaps have affected the net financial items with the
following amounts:
(NOK million) 2021 2020
Unrealised gain / loss (-) -49 39
Realised gain / loss (-) 27 2
Jotun A/S
60 I Jotun Annual Report 2021