6. DIFFERENCES BETWEEN DATA REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS AND PREVIOUSLY PREPARED AND PUBLISHED FINANCIAL REPORTS
Differences between Data Reported in the Consolidated Financial Statementsand Previously Prepared and Published Financial Reports
Changes introduced to financial data as presented in the condensed financial statements for the 4th quarter of 2020 published on 4 February 2021 with an effect on total assets and net profit:
|
|
Data disclosed in the quarterly financial information for the Q4 2020 |
Adjustment |
Data disclosed in the consolidated financial statements for 2020 |
|
ASSETS |
84,254 |
(427) |
83,827 |
|
Non-current assets, incl.: |
59,991 |
(779) |
59,212 |
|
Property, plant and equipment |
50,395 |
(1,008) |
49,387 |
|
Intangible assets |
2,528 |
6 |
2,534 |
|
Right-of-use asset |
5,217 |
35 |
5,252 |
|
Investments accounted for using the equity method |
757 |
1 |
758 |
|
Deferred tax assets |
511 |
176 |
687 |
|
Non-current derivatives |
177 |
2 |
179 |
|
Other assets, incl.: |
404 |
9 |
413 |
|
investment property |
252 |
9 |
261 |
|
Current assets, incl.: |
24,263 |
352 |
24,615 |
|
Inventories |
12,284 |
(5) |
12,279 |
|
Trade and other receivables |
9,594 |
46 |
9,640 |
|
Current tax assets |
457 |
(8) |
449 |
|
Current derivatives |
124 |
316 |
440 |
|
Non-current assets classified as held for sale |
23 |
3 |
26 |
|
LIABILITIES |
84,254 |
(427) |
83,827 |
|
Equity, incl.: |
42,951 |
(572) |
42,379 |
|
Exchange differences on translating foreign operations |
1,348 |
(20) |
1,328 |
|
Retained earnings |
38,594 |
(558) |
38,036 |
|
Non-controlling interests |
777 |
6 |
783 |
|
Non-current liabilities, incl.: |
18,447 |
77 |
18,524 |
|
Provisions |
2,257 |
7 |
2,264 |
|
Deferred tax liabilities |
1,951 |
48 |
1,999 |
|
Lease liabilities |
4,479 |
22 |
4,501 |
|
Current liabilities, incl.: |
22,856 |
68 |
22,924 |
|
Trade and other liabilities |
13,985 |
39 |
14,024 |
|
Lease liabilities |
702 |
11 |
713 |
|
Loans, borrowings and bonds |
4,934 |
(4) |
4,930 |
|
Provisions |
2,289 |
11 |
2,300 |
|
Current tax liabilities |
60 |
6 |
66 |
|
Other liabilities |
174 |
5 |
179 |
|
Profit from operations, incl.: |
4,562 |
(654) |
3,908 |
|
Sales revenues |
86,178 |
2 |
86,180 |
|
Cost of sales |
(77,083) |
436 |
(76,647) |
|
Distribution expenses |
(6,813) |
(413) |
(7,226) |
|
Administrative expenses |
(2,312) |
(2) |
(2,314) |
|
Other operating income |
9,717 |
341 |
10,058 |
|
Other operating expenses |
(5,206) |
(1,020) |
(6,226) |
|
Share in profit from investments accounted for using the equity method |
147 |
2 |
149 |
|
Finance costs |
(1,887) |
(2) |
(1,889) |
|
Income tax |
(129) |
98 |
(31) |
|
Net profit |
3,383 |
(558) |
2,825 |
The above changes affecting on assets and liabilities and financial result concerned mainly:
- CO2 futures contracts valuation in the amount of PLN 318 million. Additional information in note 16.5.1.2.;
- recognition of provisions for additional tax liabilities in ORLEN Deutschland in the amount of PLN (62) million;
- reclassification of the recognition of the provision for the estimated number of energy rights and energy efficiency certificates to be redeemed in the PKN ORLEN and ENERGA Group, from the line sales revenues and cost of sales (value of goods and materials sold) to increase distribution expenses in the amount of PLN (415) million;
- recognition of an impairment allowances on non-current assets in the total amount of PLN (965) million: mainly in the ORLEN Upstream Canada and Poland in the amount of PLN (803) million, in the ORLEN Lietuva in the amount of PLN (81) million and in the Paramo of the UNIPETROL Group in the amount of PLN (66) million. Additional information in note 14.4;
- recognition of temporary valuation to fair value of assets and liabilities of RUCH Group, in connection with the settlement using the acquisition method in accordance with IFRS 3;
- deferred tax adjustments related to the above issues.
