Parent  Company 140 Parent company CONTENTS Carlsberg Group Annual Report 2013 144 SECTION 1 OPERATING ACTIVITIES 144 1.1 Other operating activities, net 144 1.2 Cash flow 144 1.3 Receivables 145 SECTION 2  ASSET BASE 145 2.1 Intangible assets and property, plant and equipment 147 SECTION 3  SPECIAL ITEMS AND PROVISIONS 147 3.1 Special items 147 3.2 Provisions 147 3.3 Contingent liabilities 148 SECTION 4 CAPITAL STRUCTURE AND EQUITY 148 4.1 Financial income and expenses 148 4.2 Net interest-bearing debt 148 4.3 Equity 149 4.4 Borrowings 149 4.5 Interest rate risk 151 SECTION 5 INVESTMENTS IN SUB SIDIARIES,  ASSOCIATES AND JOINT VENTURES 151 5.1 Investments in subsidiaries 152 SECTION 6 TAX 152 6.1 Corporation tax 153 6.2 Deferred tax  154 SECTION 7 STAFF COSTS AND  REMUNERATION 154 7.1 Staff costs and remuneration of executive directors 154 7.2 Share-based payment 157 7.3 Retirement benefit obligations and similar obligations 158 SECTION 8 OTHER DISCLOSURE  REQUIREMENTS 158 8.1 Related party diclosures 158 8.2 Fees to auditors 158 8.3 Events after the reporting period 159 SECTION 9 GENERAL ACCOUTING  POLICIES  141 Income statement  141 Statement of comprehensive income  142 Statement of financial position  142 Statement of changes in equity  143 Statement of cash flows