NOTES
62•Consolidated financial statements
PANDORAANNUAL REPORT2014
PANDORA is continuously developing theGroup’s financial reporting. As part of this development, PANDORA has
restructured the consolidated financial statements in order to increase focus onwhat drives theGroup’s performance.
The notes have therefore been grouped into five sections related to key figures.The notes contain the relevant financial
information aswell as a description of accounting policies applied for the topics of the individual notes.
Section 1: Basis of reporting, p. 63
1.1 Basis of reporting, p. 63
Section2: Results for the year, p. 65
2.1 Revenue, p. 66
2.2 Segment information, p. 67
2.3 Staff costs, p. 69
2.4 Share-basedpayments and employee shares, p. 70
2.5 Taxation, p. 73
Section 3: Invested capital and
working capital items, p. 75
3.1 Intangible assets, p. 76
3.2 Property, plant and equipment, p. 80
3.3 Inventories, p. 82
3.4 Trade receivables, p. 83
3.5 Provisions, p. 84
Section4: Capital structure and
net financials, p. 85
4.1 Share capital, p. 86
4.2 Earnings per share and dividend, p. 87
4.3 Net interest-bearing debt, p. 88
4.4 Financial risks, p. 88
4.5 Financial instruments, p. 91
4.6 Net financials, p. 92
Section5: Other disclosures, p. 93
5.1 Business combinations, p. 94
5.2 Contingent liabilities, p. 97
5.3 Related parties, p. 97
5.4 Fees to statutory auditor, p. 97
5.5 Approval of theAnnual Report, p. 98
5.6 Companies in the PANDORAGroup, p. 98
5.7 Financial definitions, p. 99
5.8 Events after the reporting period, p. 100
