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PARENT COMPANY FINANCIAL STATEMENTS • 121
BALANCE SHEET
AT 31 DECEMBER
DKK million
Notes
2016
2015
ASSETS
Intangible assets
3.2
3,134
2,990
Property, plant and equipment
3.3
97
17
Investments in subsidiaries
3.1
2,895
2,850
Loans to subsidiaries
186
180
Other financial assets
9
20
Total non-current assets
6,321
6,057
Inventories
3.4
1,074
797
Derivative financial instruments
4.2
161
65
Trade receivables
3.5
26
27
Receivables from subsidiaries
3,074
3,274
Income tax receivable
45
82
Other receivables
39
104
Cash
75
66
Total current assets
4,494
4,415
Total assets
10,815
10,472
EQUITY AND LIABILITIES
Share capital
4.1
117
122
Treasury shares
-4,334
-4,152
Reserves
183
-19
Dividend proposed
1,007
1,511
Retained earnings
6,189
6,198
Total equity
3,162
3,660
Provisions
3.6
-
30
Loans and borrowings
4.3
3,007
2,350
Deferred tax liabilities
2.3
310
283
Total non-current liabilities
3,317
2,663
Provisions
3.6
646
441
Loans and borrowings
4.3
-
227
Derivative financial instruments
4.2, 4.3
256
214
Payables to subsidiaries
4.3
2,968
2,958
Trade payables
4.3
383
231
Other payables
4.3
83
78
Total current liabilities
4,336
4,149
Total liabilities
7,653
6,812
Total equity and liabilities
10,815
10,472