Explanatory notesto the consolidated financial statements

13. Explanatory notes to the consolidated financial statements

13.1. Sales revenues

13.2. Sales revenues by operating segments in division on assortments

13.3. Sales revenue geographical division - disclosed by customer’s premises countries

13.4. Revenue from contracts with customers by type of contract

13.5. Revenue from contracts with customers by date of transfer 

13.6. Revenue from contracts with customers by duration of contract

13.7. Revenue from contracts with customers by sales channel

13.8. Costs

13.8.1. Cost of sales

13.8.2. Cost by nature

13.9. Other operating income

13.10. Other operating expenses

13.11. Finance income and costs

13.11.1. Finance income

13.11.2. Finance costs

13.12. (Loss)/reversal of loss due to impairment of trade receivables and of loans and interest on trade receivables

13.13. Tax expense

13.13.1. Reconciliation of effective tax rate

13.13.2. Deferred tax

14. Explanatory notes to the statement of financial position

14.1. Property, plant and equipment

14.2. Intangible assets

14.2.1. Rights

14.3. Investments in jointly controlled entities and associates

14.4. Impairment of property, plant and equipment, intangible assets and right-of-use assets

14.4.1. The main assumptions used in the impairment tests of assets as at 31 December 2020

14.4.2. Recognition and Reversal of impairment allowances of property, plant and equipment, intangible assets, rights-of-use assets as at 31 December 2020

14.5. Net working capital

14.5.1. Inventories

14.5.2. Trade and other receivables Change in expected credit loss of trade receivables Ageing analysis of trade receivables and expected credit loss as at 31 December 2020

14.5.3. Trade and other liabilities

14.5.4. Change in liabilities from contracts with customers

14.6. Cash and cash equivalents

14.7. Loans, borrowings and bonds

14.7.1. Loans

14.7.2. Bonds

14.8. Net debt and equity management

14.8.1 Changes in liabilities from financing activities and net debt

14.8.2. Equity management policy

14.9. Equity

14.10. Derivatives and other assets and liabilities

14.11. Provisions

15. Explanatory notes to the cash flows

15.1. Foreign exchange gain/(loss)

15.2. Interest, net

15.3.  (Profit)/Loss on investing activities

15.4.  Change in provisions

15.5. Other adjustments

15.6. Income tax (paid)

15.7. Acquisition of shares lowered by cash

16. Explanatory notes to the financial instruments and financial risk

16.1. Financial instruments by category and class

16.2.  Income, expenses, profit and loss and other comprehensive income

16.3.  Fair value measurement

16.3.1. Methods applied in determining fair value (fair value hierarchy)

16.4. Hedge accounting

16.5. Risk identification

16.5.1. Commodity risk Risk of changes in the prices of refinery and petrochemical products and raw materials Risk of changes in CO2 emission allowances prices (CO2)

16.5.2. The risk of exchange rates changes

16.5.3. The risk of interest rates changes

16.5.4. Liquidity and credit risk

17. Other explanatory notes

17.1. Concessions held

17.2. Leases

17.2.1. Group as a lessee

17.2.2. Group as a lessor

17.3. Investment expenditures incurred and future commitments resulting from signed investment contracts

17.4. Contingent assets and liabilities

17.4.1. Contingent assets

17.4.2. Contingent liabilities

17.5. Excise tax guarantees

17.6. Related party transactions

17.6.1. Remuneration paid and due or potentially due to the members of the Management Board, the Supervisory Board of the Parent Company and other members of key executive personnel of the Parent Company and the ORLEN Group companies

17.6.2. ORLEN Group companies’ transactions and balances of settlements with related parties

17.6.3. Transactions with entities related to the State Treasury

17.7. Remuneration arising from the agreement with the entity authorized to conduct audit of the financial statements

ORLEN Group Integrated Report

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