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Cash flow statement - DKK (kr)
kr in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of cash flows [abstract]      
Net profit kr 42,138 kr 38,951 kr 38,628
Adjustment of non-cash items:      
Income taxes in the income statement 10,992 9,602 8,987
Depreciation, amortisation and impairment losses 5,753 5,661 3,925
Other non-cash items 7,849 7,032 6,098
Change in working capital (4,353) (3,388) (3,370)
Interest received 100 64 51
Interest paid (422) (204) (89)
Income taxes paid (10,106) (10,936) (9,614)
Net cash generated from operating activities 51,951 46,782 44,616
Purchase of intangible assets (16,256) (2,299) (2,774)
Proceeds from sale of property, plant and equipment 7 4 13
Purchase of property, plant and equipment (5,825) (8,932) (9,636)
Proceeds from other financial assets 12 148 178
Purchase of other financial assets 0 (350) (248)
Investment in associated companies (392) (97) 0
Proceeds from the divestment of Group and associated companies 0 (3) 368
Dividend received from associated companies 18 20 19
Net cash used in investing activities (22,436) (11,509) (12,080)
Purchase of treasury shares (16,855) (15,334) (15,567)
Dividends paid (20,121) (19,409) (19,048)
Repayment of borrowings (950) (822) 0
Proceeds from borrowings 5,682 81 94
Net cash used in financing activities (32,244) (35,484) (34,521)
Net cash generated from activities (2,729) (211) (1,985)
Cash and cash equivalents at the beginning of the year 15,411 15,629 17,158
Reclassification of bank overdraft to financing activities 0 0 412
Exchange gains/(losses) on cash and cash equivalents (456) (7) 44
Cash and cash equivalents at the end of the year kr 12,226 kr 15,411 kr 15,629