21
JOTUN GROUP
NOTES
ACCOUNTING PRINCIPLES
Summary of significant accounting policies 22
1 Significant accounting judgements, estimates and assumptions 27
ASSOCIATED COMPANIES AND JOINT VENTURES
2 Investments in associated companies and joint ventures 28
INCOME STATEMENT ITEMS
3 Payroll expenses 30
4 Pensions and other long-term employee benefits 31
5 Other operating expenses and net financial items 33
6 Income tax 34
BALANCE SHEET ITEMS
7 Intangible assets 36
8 Property, plant and equipment 37
9 Inventories 38
10 Provisions 38
FINANCIAL INSTRUMENTS
11 Financial and commercial risk management 39
12 Overview of financial instruments 41
13 Trade and other receivables 42
14 Cash and cash equivalents 43
15 Funding and borrowings 44
16 Other current liabilities 46
EQUITY AND SUBSIDIARIES INFORMATION
17 Share capital and shareholder information 46
18 List of subsidiaries 48
OTHER MATTERS
19 Contingent liabilities 49
20 Contractual obligations and guarantees 50
21 Leases 50
22 Related parties 51
23 Standards issued but not yet effective 52
24 Events after the balance sheet date 52