PART 3 NOTES – KIRKBI GROUP
Accounting policies Provisions are recognised when the KIRKBI Group identifies legal or constructive obligations as a result of past events and it is probable that it will lead to an outflow of resources that can be reliably estimated. In this connection, the KIRKBI Group makes the estimate based upon an evaluation of the individual, most likely outcome of the cases. In cases where a reliable estimate cannot be made, these are disclosed as contingent liabilities.
Further provisions for restructuring expenses are only recognised when the decision is made and announced before the balance sheet date. Provisions are not made for future operating losses. Provisions are measured at the present value of the estimated obligation at the balance sheet date.
4.5. REVERSALS OF ITEMS WITH NO EFFECT ON CASH FLOWS (m DKK)
2020
2019
Depreciation, amortisation and impairment
2,823
2,333
Gain/loss on disposals
27
99
Fair value adjustments investment real estate
17
(225)
2,621
(7,090)
Revaluation of securities etc. Net movements in provisions Net income/loss from associates
92 2,031
21 8
7,611
(4,854)
(m DKK)
2020
2019
Inventories
(278)
(108)
915
(483)
1,119
(549)
1,756
(1,140)
4.6. CHANGES IN WORKING CAPITAL
Trade and other receivables Trade and other payables
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