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## SECTION 3.1 Special Items 

## 3.1.1  Special items, income 

During 2013, the Group disposed of some assets which had been impaired in prior years, resulting in a gain of DKK 40m. The Group also recycled cumulative exchange differences of DKK 239m relating to entities acquired in step acquisitions. 

The income in 2012 primarily related to a gain of DKK 1,719m from the establishment of a con- sortium comprising a group of Danish investors and the Carlsberg Group to develop the former brewery site in Copenhagen. The gain improved net profit and free cash flow significantly. 

## 3.1.2  Special items, expenses 

The Group is optimising and standardising business processes in Western Europe, which resulted in restructuring costs and impairments totalling DKK 207m (2012: DKK 188m). 

Restructuring of Ringnes in Norway, DKK 88m (2012: DKK 262m), related to the full transition to one-way packaging before the first half of 2015, which also includes investment in new production equipment and added capacity as well as a reduction in employees by 2015. 

Restructuring of Xinjiang Wusu Group, DKK 62m, entailed the restructuring and closure of three breweries in 2013. 

## IMPAIRMENT, RESTRUCTURING AND TERMINATION BENEFITS 

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The impairment and restructuring in 2012 of Carlsberg Uzbekistan, DKK 290m, Nordic Getränke, DKK 118m, and Vena Brewery, production and sales equipment in Russia, DKK 589m, related to non-current assets in the enti- ties due to difficult market conditions and poor performance and profit outlook. 

Carlsberg and its partner in Nordic Getränke agreed to cease the cooperation in January 2013 and split the entities between them. As a con- sequence, the investment was impaired by DKK 118m in 2012. The entities acquired from Nordic Getränke were fully consolidated and integrated in the German business with effect from January 2013, cf. further description in section 5. 

## IMPAIRMENT OF TRADEMARKS 

The impairment loss on trademarks, DKK 200m (indefinite and finite useful life), relates to Nevs- koye (Russia), Derbes (Kazakhstan), Kanterbrau (France) and trademarks in Estonia. 

The Sarbast trademark was fully impaired in 2012 as part of the impairment of Carlsberg Uzbekistan. 

## 3.1  SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS 

The use of special items entails manage- ment judgement in the separation from other items in the income statement. Management carefully considers such changes in order to ensure the correct distinction between the operating activities and restructuring of the Group carried out to enhance the future earnings potential. Management reassesses useful life and residual value of non-current assets used 

## 3.1 ACCOUNTING POLICIES 

Special items include significant income and costs of a special nature in terms of the Group’s revenue-generating operating activities which cannot be attributed directly to the Group’s ordinary operating activities. Such income and costs include the cost of extensive restructuring of processes and fundamental structural adjust- ments, as well as any gains or losses arising from disposals of related assets which have a material effect over a given period. 

Special items also include significant non-recurring items, including impairment of goodwill (including goodwill allocated to joint ventures and associ- ates) and trademarks, gains and losses on the disposal of activities, revaluation of the sharehold- ing in an entity held immediately before a step acquisition of that entity and transaction costs in a business combination. 

## COST RELATED TO ACQUISITION AND DISPOSALS 

Cost related to the acquisition of entities, DKK 28m, primarily relates to the acquisition of Chongqing Brewery Group, China. 

in the entity undergoing restructuring. The extent and amount of onerous contracts as well as employee and other obligations arising in connection with the restructuring are also estimated. Management initially assesses the entire project and recognises all present costs of the project, but the project is also assessed on an ongoing basis with further costs possibly occurring during the lifetime of the project. 

