Other disclosures (Tables)

12 Months Ended

Dec. 31, 2019

Additional information [abstract]

Expensed in the Income statement

Share-based payment
Expensed in the income statement DKK million	2019	2018	2017
Restricted stock units to employees	48	204	169
Long-term share-based incentive programme (Management Board)1	86	48	19
Long-term share-based incentive programme (management group below Management Board)	195	145	102
Shares allocated to individual employees	34	17	2
Share-based payment expensed in the income statement	363	414	292

1. In 2017 Novo Nordisk introduced, for the first time, a share-based compensation programme with terms which amortises the grant date valuation over four years. The 2019 expense includes amortisation of the 2017, 2018 and 2019 programmes.

General Terms and Conditions of Launched Programmes

General terms and conditions of launched programmes
	Restricted stock units to employees			Shares for Management Board			Shares for Management group below Management Board
	2019	2018	2017	2019	2018	2017	2019	2018	2017
Number of shares awarded in the year	2,148,580	—	—	508,398	411,090	356,195	1,300,333	1,114,455	761,826
Value per share at launch (DKK)	307	—	—	298	280	213	298	280	213
Vesting period	3.5 years	—	—	3 years	3 years	3 years	3 years	3 years	3 years
Allocated to recipients	Feb 2023			Feb 2023	Feb 2022	Feb 2021	Feb 2023	Feb 2022	Feb 2021
Total market value at launch (DKK million)	660	—	—	152	115	76	387	312	162
Amortisation period of the programme	2019 to 2023	—	—	2019 to 2022	2018 to 2021	2017 to 2020	2019 to 2022	2018 to 2021	2017 to 2020

Outstanding Restricted Stock

Outstanding restricted stock units	2019		2018
Outstanding at the beginning of the year	5,584,019		4,833,882
Released restricted stock units to employees	(1,431,192	)	(35,180	)
Released shares allocated to Management in 2015	(1,040,593	)	(764,474	)
Released shares allocated to individual employees	(81,873	)	(25,883	)
Cancelled allocated shares	(262,596	)	(209,308	)
Allocated restricted stock units to employees	2,148,580		100,000
Shares allocated to Management in the year	1,808,731		1,525,545
Shares allocated to individual employees in the year	154,122		159,437
Outstanding at the end of the year	6,879,198		5,584,019

Outstanding restricted stock units	Issued1	Released (accumulated)		Cancelled (accumulated)		Outstanding	Value at launch date DKK million	Vesting date
Restricted stock units to employees
2016 Restricted stock units	1,565,411	(1,475,572	)	(89,839	)	—	508	Q1 2019
2019 Restricted stock units	2,148,580	—		—		2,148,580	660	Q1 2023
Outstanding restricted stock units to employees	3,713,991	(1,475,572	)	(89,839	)	2,148,580
Shares allocated to Management Board
2015 Shares allocated to joint pool	378,943	(378,421	)	(522	)	—	108	Q1 2019
2016 Shares allocated to joint pool	96,705	—		(1,623	)	95,082	29	Q1 2020
2017 Shares allocated to joint pool	356,195	—		(24,608	)	331,587	76	Q1 2021
2018 Shares allocated	411,090	—		(20,077	)	391,013	115	Q1 2022
2019 Shares allocated	508,398	—		—		508,398	152	Q1 2023
Outstanding shares for Management Board	1,751,331	(378,421	)	(46,830	)	1,326,080
Shares allocated to pools for management group below Management Board
2015 Shares allocated	879,988	(662,172	)	(217,816	)	—	251	Q1 2019
2016 Shares allocated	224,055	—		(49,574	)	174,481	68	Q1 2020
2017 Shares allocated	761,826	—		(100,098	)	661,728	162	Q1 2021
2018 Shares allocated	1,114,455	—		(77,812	)	1,036,643	312	Q1 2022
2019 Shares allocated	1,300,333	—		—		1,300,333	387	Q1 2023
Outstanding shares for Management group below Management Board	4,280,657	(662,172	)	(445,300	)	3,173,185
Shares allocated to individual employees	323,170	(81,873	)	(9,944	)	231,353	75	2020-2023
Outstanding at the end of 2019	10,069,149	(2,598,038	)	(591,913	)	6,879,198

All restricted stock units and shares allocated to Management are hedged by treasury shares.

Contractual Obligations and Recognised Non-Current Debt

Total contractual obligations and recognised non-current debt can be specified as follows (payments due by period):

2019
DKK million	Within 1 year	1-3 years	3-5 years	More than 5 years	Total
Retirement benefit obligations	13	26	25	1,270	1,334
Leases (note 4.2)	847	1,424	734	1,140	4,145
Total obligations recognised in the balance sheet	860	1,450	759	2,410	5,479
Leases1	128	229	199	376	932
Research and development obligations	2,600	3,258	1,493	29	7,380
Research and development - potential milestone payments3	300	1,023	1,009	2,403	4,735
Commercial product launch - potential milestone payments3	—	—	—	3,468	3,468
Purchase obligations relating to investments in property, plant and equipment	172	—	—	—	172
Other purchase obligations	5,695	2,989	1,175	621	10,480
Total obligations not recognised in the balance sheet	8,895	7,499	3,876	6,897	27,167
Total contractual obligations	9,755	8,949	4,635	9,307	32,646

2018
DKK million	Within 1 year	1-3 years	3-5 years	More than 5 years	Total
Retirement benefit obligations	13	25	25	1,193	1,256
Total obligations recognised in the balance sheet	13	25	25	1,193	1,256
Operating leases2	1,007	1,463	915	1,511	4,896
Research and development obligations	2,014	1,715	968	75	4,772
Research and development - potential milestone payments3	550	833	818	2,091	4,292
Commercial product launch - potential milestone payments3	—	—	—	2,591	2,591
Purchase obligations relating to investments in property, plant and equipment	1,875	—	—	—	1,875
Other purchase obligations	4,392	2,536	1,095	406	8,429
Total obligations not recognised in the balance sheet	9,838	6,547	3,796	6,674	26,855
Total contractual obligations	9,851	6,572	3,821	7,867	28,111

1. Predominantly relates to estimated variable property taxes, leases committed not yet commenced and low value assets.

2. There were no material finance lease obligations in 2018.

3. Potential milestone payments are associated with uncertainty as they are linked to successful achievements in research activities.

Other Guarantees and Security for Debt

DKK million	2019	2018
Other guarantees
Other guarantees primarily relate to performance guarantees issued by Novo Nordisk	906	973

Material Transactions with Related Parties

The Group has had the following material transactions with related parties:

DKK million	2019		2018		2017
Novo Holdings A/S
Purchase of Novo Nordisk B shares	4,894		4,207		—
Sale of NNIT B shares	—		(368	)	—
Dividend payment to Novo Holdings A/S	5,580		5,496		5,330
NNIT Group
Services provided by NNIT	941		1,052		1,231
Dividend payment from NNIT	(20	)	(19	)	(26	)
Novozymes Group
Services provided by Novo Nordisk	(132	)	(115	)	(145	)
Services provided by Novozymes	103		121		163
CS Solar Fund XIV
Purchase of shares by Novo Nordisk	97		—		—
Liability for capital commitment	389		—		—
Distribution by CS Solar Fund XIV	(385	)	—		—

Schedule of Auditors' Remuneration

DKK million	2019	2018	2017
Statutory audit	26	25	24
Audit-related services	4	3	4
Tax advisory services	11	11	10
Other services	4	3	5
Total fee to statutory auditors	45	42	43

Schedule of Companies Included in Novo Nordisk Group

Activity: •  Sales and marketing •  Production •  Research and development •  Services/investments

Company and country	Percentage of shares owned		Activity
Parent company
Novo Nordisk A/S, Denmark			•	•	•	•
Subsidiaries by region
North America Operations
Novo Nordisk Canada Inc., Canada		100	•
Novo Nordisk Inc., United States		100	•
Novo Nordisk US Bio Production, Inc., United States		100		•
Novo Nordisk US Holdings Inc., United States		100				•
Novo Nordisk Pharmaceutical Industries LP, United States		100		•
Novo Nordisk Research Center Indianapolis, Inc., United States		100			•
Novo Nordisk Research Center Seattle, Inc., United States		100			•
Novo Nordisk Pharma, Inc., United States		100	•
International Operations
Novo Nordisk Pharma Operations A/S, Denmark		100	•			•
Novo Nordisk Region AAMEO and LATAM A/S, Denmark		100				•
Region Japan & Korea
Novo Nordisk Region Japan & Korea A/S, Denmark		100				•
Novo Nordisk Pharma Ltd., Japan		100	•	•
Novo Nordisk Pharma Korea Ltd., South Korea		100	•
Region Europe
Novo Nordisk Pharma GmbH, Austria		100	•
S.A. Novo Nordisk Pharma N.V., Belgium		100	•
Novo Nordisk Pharma d.o.o., Bosnia and Herzegovina		100	•
Novo Nordisk Pharma EAD, Bulgaria		100	•
Novo Nordisk Hrvatska d.o.o., Croatia		100	•
Novo Nordisk s.r.o., Czech Republic		100	•
Novo Nordisk Pharmatech A/S, Denmark		100	•	•
Novo Nordisk Region Europe A/S, Denmark		100				•
Novo Nordisk Denmark A/S, Denmark		100	•
Novo Nordisk Farma OY, Finland		100	•
Novo Nordisk, France		100	•
Novo Nordisk Production SAS, France		100		•
Novo Nordisk Pharma GmbH, Germany		100	•
Novo Nordisk Hellas Epe., Greece		100	•
Novo Nordisk Hungária Kft., Hungary		100	•
Novo Nordisk Biopharm Limited, Ireland		100	•		•
Novo Nordisk Limited, Ireland		100	•
Novo Nordisk S.P.A., Italy		100	•
UAB Novo Nordisk Pharma, Lithuania		100	•
Novo Nordisk Farma dooel, Macedonia		100	•
Novo Nordisk B.V., Netherlands		100	•
Novo Nordisk Scandinavia AS, Norway		100	•
Novo Nordisk Pharmaceutical Services Sp. z o.o., Poland		100	•
Novo Nordisk Comércio Produtos Farmacêuticos Lda., Portugal		100	•
Novo Nordisk Farma S.R.L., Romania		100	•
Novo Nordisk Pharma d.o.o. Belgrade (Serbia), Serbia		100	•
Novo Nordisk Slovakia s.r.o., Slovakia		100	•
Novo Nordisk, d.o.o., Slovenia		100	•
Novo Nordisk Pharma S.A., Spain		100	•
Novo Nordisk Scandinavia AB, Sweden		100	•
Novo Nordisk Health Care AG, Switzerland		100	•			•
Novo Nordisk Pharma AG, Switzerland		100	•
Novo Nordisk Holding Limited, United Kingdom		100				•
Novo Nordisk Limited, United Kingdom		100	•
Ziylo Limited, United Kingdom		100			•

Company and country	Percentage of shares owned		Activity
Region AAMEO
Aldaph SpA, Algeria		100	•	•
Novo Nordisk Pharmaceuticals Pty. Ltd., Australia		100	•
Novo Nordisk Pharma (Private) Limited, Bangladesh		100	•
Novo Nordisk Egypt LLC, Egypt		100	•
Novo Nordisk India Private Limited, India		100	•
Novo Nordisk Service Centre (India) Pvt. Ltd., India		100				•
PT. Novo Nordisk Indonesia, Indonesia		100	•
Novo Nordisk Pars, Iran		100	•
Novo Nordisk Ltd, Israel		100	•
Novo Nordisk Kazakhstan LLP, Kazakhstan		100	•
Novo Nordisk Kenya Ltd., Kenya		100	•
Novo Nordisk Pharma SARL, Lebanon		100	•
Novo Nordisk Pharma (Malaysia) Sdn Bhd, Malaysia		100	•
Novo Nordisk Pharma Operations (Business Area) Sdn Bhd, Malaysia		100				•
Novo Nordisk Pharma SAS, Morocco		100	•
Novo Nordisk Pharmaceuticals Ltd., New Zealand		100	•
Novo Nordisk Pharma Limited, Nigeria		100	•
Novo Nordisk Pharma (Private) Limited, Pakistan		100	•
Novo Nordisk Pharmaceuticals (Philippines) Inc., Philippines		100	•
Novo Nordisk Limited Liability Company, Russia		100	•
Novo Nordisk Production Support LLC, Russia		100		•
Novo Investment Pte Limited, Singapore		100				•
Novo Nordisk Pharma (Singapore) Pte Ltd., Singapore		100	•
Novo Nordisk (Pty) Limited, South Africa		100	•
Novo Nordisk Lanka (PVT) Ltd, Sri Lanka		100	•
Novo Nordisk Pharma (Thailand) Ltd., Thailand		93	•
Novo Nordisk Tunisie SARL, Tunisia		100	•
Novo Nordisk Saglik Ürünleri Tic. Ltd. Sti., Turkey		100	•
Novo Nordisk Ukraine, LLC, Ukraine		100	•
Novo Nordisk Pharma Gulf FZ-LLC, United Arab Emirates		100	•
Region China
Novo Nordisk (China) Pharmaceuticals Co., Ltd., China		100	•	•
Beijing Novo Nordisk Pharmaceuticals Science & Technology Co., Ltd., China		100			•
Novo Nordisk Hong Kong Limited, Hong Kong		100	•
Novo Nordisk Pharma (Taiwan) Ltd., Taiwan		100	•
Region Latin America
Novo Nordisk Pharma Argentina S.A., Argentina		100	•
Novo Nordisk Produção Farmacêutica do Brasil Ltda., Brazil		100		•
Novo Nordisk Farmacêutica do Brasil Ltda., Brazil		100	•
Novo Nordisk Farmacéutica Limitada, Chile		100	•
Novo Nordisk Colombia SAS, Colombia		100	•
Novo Nordisk Mexico S.A. de C.V., Mexico		100	•
Novo Nordisk Panama S.A., Panama		100				•
Novo Nordisk Peru S.A.C., Peru		100	•
Novo Nordisk Venezuela Casa de Representación C.A., Venezuela		100	•
Other subsidiaries and associated companies
NNE A/S, Denmark		100				•
NNIT A/S, Denmark		18				•
Churchill Stateside Solar Fund XIV, LLC, United States		99				•