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130 • PARENT COMPANY FINANCIAL STATEMENTS
PANDORA ANNUAL REPORT 2016
NOTES FOR THE
PARENT COMPANY
PROPERTY, PLANT AND EQUIPMENT
3.3
3.4
Plant and Assets under
DKK million
equipment
construction
Total
2016
Cost at 1 January
72
3
75
Additions
-
94
94
Disposals
-4
-
-4
Transfers
97
-97
-
Cost at 31 December
165
-
165
Depreciation and impairment losses at 1 January
58
-
58
Depreciation for the year
13
-
13
Disposals
-3
-
-3
Depreciation and impairment losses at 31 December
68
-
68
Carrying amount at 31 December
97
-
97
2015
Cost at 1 January
66
-
66
Additions
7
3
10
Disposals
-1
-
-1
Cost at 31 December
72
3
75
Depreciation and impairment losses at 1 January
48
-
48
Depreciation for the year
11
-
11
Disposals
-1
-
-1
Depreciation and impairment losses at 31 December
58
-
58
Carrying amount at 31 December
14
3
17
The Company did not pledge assets in 2016 and 2015.
INVENTORIES
DKK million
2016
2015
Finished goods
899
694
Point-of-sales materials
175
103
Total inventories at 31 December
1,074
797
Inventory write-downs at 1 January
121
103
Write-downs during the year
184
210
Utilised in the year
-189
-190
Reversal of write-downs in the year
-
-2
Inventory write-downs at 31 December
116
121
Write-downs of inventories are recognised in cost of sales, DKK 143 million (2015: DKK 190 million), and distribution expenses, DKK 41 million
(2015: DKK 18 million).
Operating leases
DKK million
2016
2015
Future minimum lease payments on existing contracts at 31 December
Within 1 year
23
22
Between 1 and 5 years
68
67
After 5 years
90
106
Total
181
195
PANDORA A/S’ other financial obligations mainly relate to leases for office premises and operating equipment.