{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"AUT": "http://autostoresystem.com/2022-12-31",
"ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://autostoresystem.com/2022-12-31/549300KYN3M0LSM5A413-2022-12-31.xsd"
]
},
"facts": {
"f32889": {
"value": "585000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32893": {
"value": "325800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32902": {
"value": "-1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32905": {
"value": "1800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32911": {
"value": "583500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32915": {
"value": "327600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32925": {
"value": "242800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32929": {
"value": "107800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32941": {
"value": "39400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32946": {
"value": "102300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32956": {
"value": "76600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32961": {
"value": "96900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32971": {
"value": "6600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32974": {
"value": "4500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32986": {
"value": "51100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AmortisationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32991": {
"value": "53700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AmortisationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f32997": {
"value": "167000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33001": {
"value": "-37500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33010": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33014": {
"value": "19200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33022": {
"value": "44000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33026": {
"value": "41200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33033": {
"value": "127200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33038": {
"value": "-59500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33047": {
"value": "27500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33051": {
"value": "-9400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33057": {
"value": "99700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33061": {
"value": "-50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33328": {
"value": "-31700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33333": {
"value": "-16500000",
"decimals": -5,
"dimensions": {
"concept": "AUT:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33349": {
"value": "-31700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33354": {
"value": "-16500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33380": {
"value": "-114900000",
"decimals": -5,
"dimensions": {
"concept": "AUT:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOfForeignOperations",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33384": {
"value": "-41200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOfForeignOperations",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33401": {
"value": "-114900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33405": {
"value": "-41200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33412": {
"value": "-146500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33417": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33426": {
"value": "-46800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33430": {
"value": "-107800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33444": {
"value": "99700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33449": {
"value": "-50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33463": {
"value": "-46800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33467": {
"value": "-107800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33484": {
"value": "0.03",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"f33487": {
"value": "-0.015",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"f33499": {
"value": "0.029",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"f33502": {
"value": "-0.015",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"f33758": {
"value": "17300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33763": {
"value": "11200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33772": {
"value": "31300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33775": {
"value": "11600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33782": {
"value": "1096400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33787": {
"value": "1224200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33797": {
"value": "524600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33801": {
"value": "604000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33811": {
"value": "1600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33815": {
"value": "8700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33826": {
"value": "1600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33830": {
"value": "3000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33836": {
"value": "1672600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33841": {
"value": "1862800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33852": {
"value": "83500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33857": {
"value": "51400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33869": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33873": {
"value": "46500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33881": {
"value": "20000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33885": {
"value": "21500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33897": {
"value": "174800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33902": {
"value": "146900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33911": {
"value": "368300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33914": {
"value": "266200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33924": {
"value": "2041000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f33928": {
"value": "2129000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34174": {
"value": "34300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34178": {
"value": "34300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34187": {
"value": "1154600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34191": {
"value": "1154600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34202": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34205": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34216": {
"value": "160000000",
"decimals": -5,
"dimensions": {
"concept": "AUT:RetainedEarningsAndOtherReserves",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34220": {
"value": "203200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:RetainedEarningsAndOtherReserves",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34233": {
"value": "1347800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34238": {
"value": "1391200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34256": {
"value": "421800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34260": {
"value": "435600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34272": {
"value": "28900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34275": {
"value": "12900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34292": {
"value": "101600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34296": {
"value": "127100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34308": {
"value": "6000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34311": {
"value": "10000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34322": {
"value": "558200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34326": {
"value": "585600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34344": {
"value": "51500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34349": {
"value": "95800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34366": {
"value": "1000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34369": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34380": {
"value": "6800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34383": {
"value": "3600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34392": {
"value": "26800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34396": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34405": {
"value": "48900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34409": {
"value": "51500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34418": {
"value": "134900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34421": {
"value": "152300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34428": {
"value": "693200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34432": {
"value": "737800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34441": {
"value": "2041000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34446": {
"value": "2129000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34970": {
"value": "127200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f34975": {
"value": "-59500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35021": {
"value": "57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35026": {
"value": "58100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35037": {
"value": "1000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForSharebasedPayments",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35040": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForSharebasedPayments",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35048": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35052": {
"value": "19200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35061": {
"value": "44000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35065": {
"value": "41200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35082": {
"value": "-32100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35086": {
"value": "-22300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35098": {
"value": "-39600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35102": {
"value": "-21000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35115": {
"value": "-42200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35119": {
"value": "67300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35137": {
"value": "-4700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:AdjustmentsForProvisionsAndAdjustmentsForIncreaseDecreaseInOtherLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35141": {
"value": "42600000",
"decimals": -5,
"dimensions": {
"concept": "AUT:AdjustmentsForProvisionsAndAdjustmentsForIncreaseDecreaseInOtherLiabilities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35152": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35156": {
"value": "9200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35163": {
"value": "101400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35167": {
"value": "80700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35191": {
"value": "9000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35195": {
"value": "2800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35214": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35219": {
"value": "5000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35228": {
"value": "34100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35232": {
"value": "28200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35241": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35245": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35256": {
"value": "-38900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35259": {
"value": "-35900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35515": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromIssuingShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35520": {
"value": "17300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromIssuingShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35534": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35538": {
"value": "322700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35550": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PaymentsForShareIssueCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35554": {
"value": "8500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsForShareIssueCosts",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35563": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfNoncurrentBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35567": {
"value": "236900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfNoncurrentBorrowings",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35588": {
"value": "3800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35591": {
"value": "2800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35611": {
"value": "1200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:InterestPaidOnLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35616": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "AUT:InterestPaidOnLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35623": {
"value": "15200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:InterestPaidOtherThanLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35627": {
"value": "32700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:InterestPaidOtherThanLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35635": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35641": {
"value": "-1800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35648": {
"value": "-17700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35653": {
"value": "56400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35665": {
"value": "44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35668": {
"value": "101200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35680": {
"value": "-16800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35684": {
"value": "-4400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35698": {
"value": "146900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35702": {
"value": "50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35711": {
"value": "174800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f35715": {
"value": "146900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36015": {
"value": "34300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36019": {
"value": "1154600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36023": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36027": {
"value": "7000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36032": {
"value": "-36700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36037": {
"value": "233100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36041": {
"value": "1391200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36050": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36054": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36058": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36062": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36066": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36071": {
"value": "99700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36075": {
"value": "99700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36081": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36085": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36089": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36093": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36098": {
"value": "-146500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36102": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36107": {
"value": "-146500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36115": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36119": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36123": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36127": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36131": {
"value": "-146500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36136": {
"value": "99700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36141": {
"value": "-46800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36149": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36153": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36157": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36162": {
"value": "1000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36165": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36168": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36173": {
"value": "1000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36188": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36192": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36197": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36200": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36203": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36207": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36210": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36217": {
"value": "34300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36221": {
"value": "1154600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36225": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36228": {
"value": "7900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36232": {
"value": "-183200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36237": {
"value": "335300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36241": {
"value": "1347800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36512": {
"value": "35200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36516": {
"value": "1139100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36521": {
"value": "4300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36524": {
"value": "20900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36528": {
"value": "-42400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36532": {
"value": "1157100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36540": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36544": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36548": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36552": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36556": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36561": {
"value": "-50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36565": {
"value": "-50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36571": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36575": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36579": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36583": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36588": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36592": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36597": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36605": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36608": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36611": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36614": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36618": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36623": {
"value": "-50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36627": {
"value": "-107800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36640": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36644": {
"value": "10700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36647": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36650": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36654": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36658": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36662": {
"value": "11000000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity202101",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36676": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36679": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36682": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36686": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36690": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36694": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36698": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20210413",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36710": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36715": {
"value": "13200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36718": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36721": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36725": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36729": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36732": {
"value": "13200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfEquity20211012",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36747": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36751": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36755": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36759": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36763": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36767": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36772": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "AUT:ReductionOfIssuedCapital20211013",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36780": {
"value": "-3700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36784": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36789": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36792": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36796": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36800": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36805": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughCapitalReorganisation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36818": {
"value": "2000000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36822": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36826": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36829": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36833": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36837": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36842": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IssueOfTreasuryShares20211014",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36855": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36859": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36863": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36866": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36869": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36874": {
"value": "321800000",
"decimals": -5,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36878": {
"value": "322700000",
"decimals": -5,
"dimensions": {
"concept": "AUT:SaleOfTreasuryShares20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36894": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36898": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36902": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36906": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36910": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36914": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36918": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "AUT:IncreaseDecreaseThroughExerciseOfOptions20211020",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36927": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36931": {
"value": "8500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36934": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36938": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36942": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36946": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36950": {
"value": "8500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShareIssueRelatedCost",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36958": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36962": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36967": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f36971": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f36974": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f36978": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f36983": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"f36989": {
"value": "34300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
}
},
"f36993": {
"value": "1154600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"f36997": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
}
},
"f37001": {
"value": "7000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:USD"
}
},
"f37006": {
"value": "-36700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"f37011": {
"value": "233100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"f37015": {
"value": "1391200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"s5_changesinequity__8__34": {
"value": "146500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"s5_changesinequity__8__37": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"s8_notes__8__5": {
"value": "Background11.1Corporate InformationThe financial statements of AutoStore Holdings Ltd. (referred to as \u201cAutoStore Group,\u201d the \u201ccompany\u201d or the \u201cgroup\u201d) for the year ended December 31, 2022 were authorized for issue by the Board of Directors on April 26, 2023. AutoStore Holdings Ltd. has shares traded on the Oslo Stock Exchange, with the ticker symbol AUTO. The company\u2019s registered office is located at Park Place, 55 Par La Ville Road, Third Floor, Hamilton HM11, Bermuda. The group\u2019s corporate headquarters is located at Stokkastrandvegen 85, 5578 Nedre Vats, Norway. The AutoStore Group is an innovative robotic and software technology provider and a pioneer of cube storage automation. The group operates in the rapidly growing warehouse automation industry and in the even faster-growing cube storage segment. AutoStore develops warehouse solutions for the future and helps its customers to enable space-saving and increase performance while reducing labor and energy costs. Reference is made to note 6.1 for a list of subsidiaries, where the largest entity is AutoStore AS, registered in Norway. In April 2022, AutoStore announced the opening of a new office in Singapore. As the parent company is incorporated in Bermuda, the Norwegian FSA has granted AutoStore an exemption for including the separate financial statements of AutoStore Holdings Ltd. as part of the annual report. 1.2Basis of PreparationThe consolidated financial statements of the group comprise con- solidated statement of comprehensive income, consolidated state- ment of financial position, consolidated statement of cash flows, consolidated statement of changes in equity, and related notes. The consolidated financial statements have been prepared in accor-dance with International Financial Reporting Standards (\u201cIFRS\u201d) as adopted by the European Union (\u201cEU\u201d) and additional requirements in the Norwegian Securities Trading Act.The financial statements are prepared based on the going concern assumption. All figures are presented in millions (000,000), except when other- wise indicated. As a result of rounding adjustments, amounts and percentages may not add up to the total. In the statement of compre-hensive income, income/gains are presented as positive amounts and expenses/costs are presented as negative amounts. In the notes, both income and expenses are presented as positive numbers, except for note 2.2, which is presented the same way as in the statement of comprehensive income.AutoStore has selected a presentation in which the description of accounting policies, as well as estimates, assumptions and judgmental considerations are disclosed in the notes to which the policies relate.Presentation and functional currencyThe consolidated financial statements are presented in US dollars (USD), while the functional currency of the parent company and some of the largest subsidiaries in the group is Norwegian kroner (NOK). For each entity, the group determines the functional currency, and items included in the financial statements of each entity are measured using that functional currency. Functional currency is determined based on the primary economic environment in which the entity operates, i.e. normally the one in which the entity primarily generates and expends cash. When the factors or indicators are mixed and the functional currency is not obvious, management has used judgment to determine the functional currency that most faithfully represents the economic effects of the underlying transactions, events and conditions. As part of this approach, management has given priority to the primary indicators before considering the other indicators, which are designed to provide additional supporting evidence to determine an entity\u2019s functional currency. Business impact of the Russian invasion of Ukraine In light of the the ongoing war, AutoStore has halted all sales activ-ities to companies in Russia and stopped all marketing activities and other initiatives directed at the Russian market. In general, AutoStore expects a very limited direct impact on operations from the invasion. Sales activity has been low in the involved countries, and AutoStore does not expect this to change in the upcoming period. AutoStore does not have any employees in these countries. As regards its supply chain, AutoStore does not source any materials directly from suppliers in Ukraine or Russia. However, it expects to see some indirect effects related to sub-suppliers, especially regarding aluminum \u2013 a key input factor in the AutoStore grid. Overall, the aluminum market was con- strained prior to the invasion, largely due to high European energy prices. The invasion has put further pressure on the energy market. In addition, Russia is a global supplier of raw materials used in aluminum production, and the global supply and price of aluminum may thus also be affected. Overall, AutoStore expects these factors to have an impact on the cost of AutoStore grid parts. Climate change The group has considered the potential impact of climate-related matters related to GHG emissions and more stringent regulations and standards in preparing its consolidated financial statements. Climate change and adaptation to climate change represent both risks and opportunities to AutoStore. The group has identified climate-related risks in five key aspects of its operations and value chain. These were identified as physical, regulatory, market, technology and reputational risks, which were linked to AutoStore\u2019s operations, suppliers and partners.The group considers the main regulatory risks to be the introduction of carbon pricing mechanisms, which in turn could lead to an increase in aluminum prices. The main market risks considered were energy scarcity and shifting customer behavior toward a preference for solutions with the best ESG performance. The main technology risk is linked to pressure to reduce the group\u2019s environmental footprint, both through the materials used by suppliers and transitioning to lower emissions technology in the group\u2019s products. The main reputational risk is connected to sector stigmatization linked to high emissions in the supply chain and lack of environmental focus in logistics and e-commerce.Climate risks are assessed to have the highest impact on the group\u2019s financial statements and related estimates in the event of future introduction of environmental regulation, which could potentially increase future production costs. If the group is not able to increase its energy efficiency or adjust prices to address any increased production costs accordingly, the group\u2019s future margins may decrease. Such potential impacts of climate change are continu-ously considered in the cash flow forecasts in assessing value in use amounts. However, as at December 31, 2022, climate risks are not expected to have any significant impact on the group\u2019s assets or liabilities.1.3New and Amended Standards and InterpretationsThe group has not made any voluntary accounting policy changes in 2022. New and amended standards adopted by the group The group applied for the first time certain amendments to standards, which are effective for annual periods beginning on or after January 1, 2022. Below is a list of the amended standards that applied for the first time in 2022. None of them had any material impact on the consolidated financial statements of 2022.\u2013Amendments to IFRS 3 \u2013 Reference to the Conceptual Framework\u2013Amendments to IFRS 9 \u2013 Fees in the \u201910 percent\u2019 test forderecognition of financial liabilities\u2013Amendments to IAS 16 \u2013 Property, Plant and Equipment:Proceeds before Intended Use\u2013Amendments to IAS 37 \u2013 Onerous Contracts - Costs of Fulfillinga Contract\u2013Amendments to IFRS 1 \u2013 Subsidiary as a first-time adopter\u2013Amendments to IAS 41 \u2013 Taxation in fair value measurementsStandards issued but not yet effectiveThe group has not early adopted any accounting standard, interpre-tation or amendment that has been issued but is not yet effective. The group intends to adopt new and amended standards and interpretations, if relevant, when they become effective. With the exception of the amendment disclosed below, the group does not expect any significant effects related to upcoming standards and amendments. Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 In February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgments to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after January 1, 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The group is currently revisiting its accounting policy information disclosures to ensure consistency with the amended requirements.1.4Significant Judgments, Estimates and AssumptionsThe preparation of the consolidated financial statements in accordance with IFRS and applying the chosen accounting policies requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and the underlying assumptions are reviewed on an ongoing basis. The accounting policies applied by management that include a significant degree of estimates and assumptions or judgments that may have the most significant effect on the amounts recognized in the financial statements are summarized:Estimates and assumptions: \u2013 Impairment testing of goodwill and intangible assets (note 3.5) \u2013 Useful lives of intangible assets (note 3.4 and note 6.2) \u2013 Valuation of share-based payments (note 7.4)A detailed description of the significant estimates and assumptions is included in the individual note where applicable.Accounting judgments: \u2013 Capitalization of development costs (note 3.4) \u2013 Determination of functional currency (note 1.2) \u2013 Determination of performance obligations (note 2.1)A detailed description of the significant accounting judgments is included in the individual note where applicable.Operating Performance22.1Revenue from Contracts with CustomersThe principal business activities of the group are to develop and manufacture an automated warehouse system based on robotics, referred to as \u201cthe AutoStore system.\u201d The AutoStore system has a variety of applications and the modularity creates high flexibility and eliminates most limitations to scalability. The AutoStore system is distributed and sold through distributors (or partners), where the distributors are AutoStore\u2019s customers. The distributors are respon-sible for the installation of the system and any subsequent service towards the end user of the AutoStore system. In 2022, the group launched a pay-per-pick service option to address fast-growing demand for fulfillment. Revenue from the pay-per-pick services option is not material for 2022.Accounting policiesRevenue from contracts with customers is recognized when control of the goods or services is transferred to the customer in an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. At contract inception, the group identifies and determines the per- formance obligations in the contract. A performance obligation is a promise to transfer to the customer a good or a service (or a bundle of goods or services) that is distinct. Significant judgment The group\u2019s revenue from contracts with distributors relates to the sales of modules of the AutoStore system and related services connected to the AutoStore system. The AutoStore system consists of different modules for warehouse storage and handling. The AutoStore system includes, but is not limited to: Grid, Port, Robot, Bins, AutoStore Controller, and spare parts, referred to as components of the AutoStore system. The group has applied significant judgment in the determi-nation of performance obligations within contracts and has evaluated that each component of the AutoStore system represents distinct performance obligations and should be accounted for separately. Revenue from components of the AutoStore system is recognized at a point in time when the components are delivered to the distributor, except for maintenance and upgrades of the AutoStore control system which is recognized over time. Rendering of services consists of services related to the AutoStore system. Revenue from rendering services is recognized when the services are performed. When a third party is involved in providing goods and services to the customer, the group determines whether the group acts as a principal or agent in these transactions. The group generally acts as a principal. For freight or shipment of components of the AutoStore system (freight element), the group acts as an agent in these transactions as the nature of the group\u2019s promise is to arrange for the shipping service on behalf of the distributor. Revenue for the shipping service is recognized at a point in time when the shipping service is arranged on a net basis. After identifying the performance obligations in the contract, the transaction price is determined. The transaction price is the amount of consideration to which the group expects to be entitled in exchange for transferring promised goods or services to a customer. In determining the transaction price, the group considers the effects of variable consideration, the existence of significant financing components, non-cash consideration, and any consideration payable to the customer. The group allocates the total transaction price in proportion to the stand-alone selling prices of each promised good or service in the contract. The group also considers whether other promises are separate performance obligations, such as service-type warranties, to which a portion of the transaction price needs to be allocated. Warranties that are not providing any additional service to the customer are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Variable consideration If the consideration in a contract includes a variable amount, the group estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal, in the amount of cumulative revenue recognized, will not occur when the associated uncertainty with the variable consideration is subsequently resolved.Disaggregated revenue information The group\u2019s revenue from contracts with customers has been disaggregated and is presented in the tables below:USD million2022 2021Major products and servicesAutoStore system 584.5 325.3 Rendering of services 0.6 0.4 1Total revenue 585.0 325.8 Geographic informationNorway 17.7 16.5 Rest of Nordics 94.8 57.1 Germany 107.1 69.6 Europe, excl. Nordics and Germany 125.2 65.0 U.S. 169.4 92.4 Asia 45.9 22.5 Other 24.8 2.7 1Total revenue 585.0 325.8 The geographic information is based on the customer\u2019s country of domicile. Timing of revenue recognition Goods transferred at a point in time 575.7 318.5 Goods and services transferred over time 9.3 7.2 1Total revenue 585.0 325.8 1 Includes revenue, excl. other operating income. Revenue streamsAutoStore systemThe AutoStore system consists of several performance obligations, i.e. components of the AutoStore system as described above, which are accounted for separately. Revenue from components of the AutoStore system is recognized when the distributor obtains control over the components which is generally upon shipment. The compo-nents have stand-alone selling prices which represent their individual fair values. The group may also, upon request, provide upgrades and maintenance of the AutoStore control system component, which originally is sold as technical equipment with an integrated on-premise software license. Through a monthly license fee, upgrades and maintenance of the AutoStore control system are made available for the end-user of the AutoStore system. Revenue from maintenance and upgrades is recognized on a monthly basis over the subscription period. Payment is generally due within 30 to 60 days after delivery. Some contracts provide distributors with discounts that give rise to variable consideration and the recognition of a refund liability. The discount is allocated to the components sold and provision is made based on components delivered. Revenue recognized at the point of delivery is only recognized for an amount of the consideration that reflects the consideration the group expects to ultimately be entitled to. The variable consideration is re-assessed at the end of each reporting period and recognized as (or when) the uncertainty is subsequently resolved. Variable considerationTo estimate the variable consideration for the discounts, the group applies the expected value method. The group then applies the requirements on constraining estimates of variable consideration and recognizes a refund liability for the discounts. The refund liability for discounts is presented in note 7.1.Warranties The group typically provides warranties for general repairs of defects that existed at the time of sale, as required by law. These assurance- type warranties are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Reference is made to the accounting policy for provisions and disclosure of assurance-type warranties in note 7.1. Rendering of servicesUpon request by the distributor, the group may provide additional services such as installation, maintenance, and training of personnel, in connection with the delivery of components of the AutoStore system. These services are treated as separate performance obliga-tions and are satisfied over time because the distributor simultane-ously receives and consumes the benefits provided by the group. The group recognizes revenue on the basis of hours incurred.Contract balancesAs most of the group\u2019s revenues are recognized and invoiced upon delivery, the group does not have any significant contract balances except for trade receivables. The group presents its trade receivables arising from contracts with customers separately from other receivables. Accounting policies for trade receivables are presented in note 2.7.2.2Segment InformationThe chief operating decision maker (CODM) of the AutoStore group, which is defined as the Board of Directors, monitors the operating results of the group as one business unit for the purpose of making decisions about resource allocation and performance assessment, hence only one segment is reported. Segment performance is evalu- ated with the main focus based on total revenue, gross margin and EBITDA. Total revenue is measured consistently with the total of revenue and other operating income in the statement of compre-hensive income, while gross margin and EBITDA are defined below.Geographical marketsFor information on the group\u2019s geographical markets, reference is made to note 2.1 Revenue from Contracts with Customers. Information about major customersThe group had four customers (distributors) who individually contributed more than 10% of the group\u2019s total revenue in 2022, with each customer contributing between 11% and 30%. In 2021, the group had two customers whose contribution exceeded 10%, each contributing between 25% and 30% to the total revenue. AutoStore\u2019s distribution partners in turn sell to end customers.USD million2022 2021Revenue 585.0 325.8 Other operating income -1.5 1.8 Total revenue and other operating income 583.5 327.6 Cost of materials -242.8 -107.8 Gross profit 340.8 219.7 Employee benefit expenses -39.4 -102.3 Other operating expenses -76.6 -96.9 EBITDA 224.7 20.6 Gross profit is the group\u2019s revenue and other operating income less cost of materials.USD million2022 2021Profit/loss for the period99.7 -50.1Income tax expense 27.5 -9.4Finance income -4.2 -19.2Finance costs 44.0 41.2Depreciation 6.6 4.5Amortization 51.1 53.7EBITDA224.7 20.6EBITDA is the group\u2019s profit/loss for the period after adding back the income tax expense, finance costs and depreciation and amortization and deducting the finance income. In the table below, non-current assets are broken down by geographical areas based on the location of the operations.USD million31.12.2022 31.12.2021Balance sheet itemsAssets 2,041.0 2,129.0 Liabilities 693.2 737.8 Equity 1,347.8 1,391.2 Non-current operating assetsLocated in Norway 1,643.0 1,844.0 Located in foreign countries 26.4 7.0 Total non-current operating assets 1,669.5 1,851.0 Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets and intangible assets, including goodwill.2.3Other Operating IncomeAccounting policiesOther operating income is recognized to the extent that it is probable that the economic benefits will flow to the group and can be reliably measured, regardless of when the payment is received. Income is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties. USD million2022 2021Freight -1.2 1.6 Other operating income -0.3 0.2 Total other operating income-1.5 1.8 Net freight income is presented as other operating income, as it is not considered part of the group\u2019s ordinary sales activities. The group presents freight income and expenses related to sales on a net basis as it considers itself as an agent in the sale and delivery of the freight service. In 2022, net freight income is negative due to larger than anticipated costs resulting from supply chain issues, which exceeded the predetermined freight income. 2.4InventoriesAccounting policiesInventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and condition are accounted for, as follows: \u2013 Raw materials: Purchase cost on a first-in/first-out basis (FIFO) \u2013 Finished goods and work in progress: Cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacityNet realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. USD million31.12.2022 31.12.2021Raw materials 53.3 28.9 Work in progress 0.0 0.1 Finished goods 30.2 22.4 Total inventories (gross) 83.5 51.4 Provision for obsolete inventories - - Total inventories at the lower of cost and net realizable value 83.5 51.4 The group has recognized USD 240.4 million of inventories as an expense in 2022, compared to USD 101.5 million in 2021. No write- down expenses for inventories are recognized in 2021 or 2022.2.5Employee Benefit ExpensesAccounting policiesEmployee benefit expenses comprise all types of remuneration to all employees of the group (i.e. full-time, part-time, permanent, casual, or temporary staff and directors and other management personnel) and are expensed when earned.Ordinary salaries can be both fixed pay and hourly wages, and are earned and paid periodically. Holiday pay is earned on the basis of ordinary pay and is normally paid in the holiday months of the following year. The employer\u2019s national insurance contribution (social security) is calculated and expensed for all payroll-related costs including pensions. Pension contributions are earned on a monthly basis. Other employee expenses consist of other benefits such as insurance, cars and telephones, and remuneration to the Board of Directors. PensionsThe group has a defined contribution pension plan for its Norwegian employees which satisfies the statutory requirements in the Norwegian law on required occupational pension (\u201cLov om obligatorisk tjeneste-pensjon\u201d).The program is a defined contribution plan. Contributions are paid to pension insurance plans and charged to the income statement in the period the contributions relate to. Once the contributions have been paid, the group has no further payment obligations.USD million2022 2021Salaries 44.3 35.0 Social security costs (note 7.1) -11.2 64.3 Pension costs 2.8 1.8 Other employee expenses 3.5 1.2 Total employee benefit expenses 39.4 102.3 Average number of full-time employees (FTEs) 855 486Salaries and social security costsTotal employee benefit expenses for 2022 significantly dropped compared to 2021 due to a reduction in the provision for social security tax on share-based payments following the reduced under-lying share price of the company compared to year-end 2021. References are made to notes 7.2 and 7.4 for more information.Remuneration to the Board of DirectorsRemuneration to the members of the Board is determined by the Annual General Meeting (\u201cAGM\u201d). The remuneration reflects the Board\u2019s responsibilities, expertise, time, and commitment. External members of the Board of Directors of AutoStore Holdings Ltd. are partly compensated through annual allocation of RSUs (restricted stock options), as well as cash compensation. Vesting period is two years from each grant date. The conditions for these grants and the terms and assumptions are disclosed in note 7.4.The Board of Directors of the parent company was established in connection with the company\u2019s listing in October 2021. Remuneration to executive management The Board of AutoStore Holdings Ltd. determines the principles applicable to the company\u2019s policy for compensation to the executive management teams. The Board is directly responsible for determin- ing the CEO\u2019s salary and other benefits. The company\u2019s executive management team includes the Chief Executive Officer (\u201cCEO\u201d), the Chief Financial Officer (\u201cCFO\u201d), the Chief Operating Officer (\u201cCOO\u201d), the Chief People & Information Officer (\u201cCPIO\u201d), the Chief Revenue Officer (\u201cCRO\u201d), the General Counsel, and the Chief Product Officer (\u201cCPO\u201d). Remuneration Committee The Board of Directors has, subject to and with effect from the listing, established a Remuneration Committee composed of four board members. The members of the Remuneration Committee shall be appointed for a term of up to two years. The appointed members of the Remuneration Committee are James C. Carlisle (co-chair), Michael K. Kaczmarek, Andreas Hansson, and Kristin Skogen Lund. The primary purpose of the Remuneration Committee is to assist the Board of Directors in matters relating to remuneration of the executive management of the group, as well as reviewing recruitment policies, career planning and management development plans, and preparing matters relating to other material employment issues in respect of the executive management. The Remuneration Committee shall report and make recommenda-tions to the Board of Directors, but the Board of Directors retains responsibility for implementing such recommendations. Principles for determining salaryThe main principle for determining the salary for each executive management member has been a fixed annual salary with the addi- tion of benefits in kind, such as telephone, insurance, and internet subscription. The fixed salary has been determined on the basis of the following factors: competitive salary level, scope of work and responsibilities, as well as an assessment of the business and individual performance.PensionAll executive management members are enrolled in the defined contribution pension scheme.Long-term incentive programMembers of the executive management team have been granted share options under the company\u2019s long-term incentive program, described in note 7.4.Short-term incentive programMembers of the executive management team have been eligible for an annual bonus of up to 15% of their annual gross salary based on the achievement of certain company- and individual level targets. The group includes these bonus payments as the basis for the calcu- lation of holiday pay.Loans and guaranteesThe company has not granted any loans, guarantees or made any other similar commitments to any of its board members or members of management. No member of the Board of Directors or management is entitled to benefits upon termination of their position. Executive management - effect on share options following resignation Key members of the company\u2019s executive management resigned during or shortly after 2022. Jone Gjerde resigned as COO in June 2022. He was replaced by Israel Losado Salvador as COO. Karl Johan Lier resigned and was replaced as CEO by Mats Hovland Vikse, effective January 1, 2023. Mr. Lier was employed at AutoStore until March 2023.In November 2022, it was announced that current CFO Bent Skisaker will step down. He will remain in the role until a replacement is in place. All the above-mentioned executives will retain their share options according to the agreement. Remuneration to executive management 2022OtherTotalcompen-remuner-USD millionSalary Bonus PensionsationationKarl Johan Lier (CEO) 0.34 - 0.02 0.01 0.37 Bent Mathias Skisaker (CFO) 0.23 0.04 - 0.01 0.28 1Israel Losada Salvador (COO) 0.15 0.05 - 0.01 0.21 2Jone Gjerde (COO) 0.09 0.03 - 0.01 0.13Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.23 3Mats Hovland Vikse (CRO) 0.23 0.04 - 0.01 0.28 Carlos Roman Fernandez (CPO) 0.20 0.03 - 0.01 0.23 Jenny S. Hovda (General Counsel) 0.21 - - 0.01 0.22 Total remuneration 1.62 0.21 0.03 0.09 1.96Remuneration to executive management 2021Karl Johan Lier (CEO) 0.37 - 0.01 0.03 0.41 Bent Mathias Skisaker (CFO) 0.26 0.04 0.01 -0.31Jone Gjerde (COO) 0.20 0.03 0.01 -0.254Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.45Mats Hovland Vikse (CRO) 0.24 0.05 0.01 -0.30Carlos Roman Fernandez (CPO) 0.18 0.03 0.01 -0.22Total remuneration 1.43 0.19 0.07 0.04 1.73 1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023. 4 Appointed Chief People & Information Officer in July 2021. 5 Appointed Chief Revenue Officer in July 2021.Remuneration to the Board of DirectorsUSD millionTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 0.05 0.03 Viveka Ekberg Board member 0.06 0.03 Kristin Skogen Lund Board member 0.05 0.03 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total remuneration0.15 0.08 Shares held by the Board of DirectorsNumber of sharesTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member - - Viveka Ekberg Board member 236,774 96,774 Kristin Skogen Lund Board member 6,451 6,451 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total shares 243,225 103,225 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,928 3,337,993,087 excluding treasury sharesOwnership % by the Board of Directors0.0% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Share options held by the Board of Directors (note 7.4)Number of RSUsTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 29,032 14,516 Viveka Ekberg Board member 29,032 14,516 Kristin Skogen Lund Board member 29,032 14,516 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total share options 87,096 43,548 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by the Board of Directors0.1% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Shares held by executive managementNumber of sharesTitle2022 2021Karl Johan Lier CEO 23,183,898 23,122,055 Bent Mathias Skisaker CFO 1,060,386 998,543 1Israel Losada Salvador COO 26,368 - 2Jone Gjerde COO 612,539 612,539 3Anette Matre CPIO 1,100,002 1,100,002 4,5Mats Hovland Vikse CRO 1,917,569 1,917,569 Carlos Roman Fernandez CPO 2,582,288 2,582,288 Jenny S. Hovda General Counsel 61,843 - Total shares30,544,893 30,332,996 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,9283,337,993,087excluding treasury sharesOwnership % by executive management0.9% 0.9%Share options held by executive management (note 7.4)Number of share optionsTitle2022 2021Karl Johan Lier CEO 22,516,432 22,516,432 Bent Mathias Skisaker CFO 6,418,157 6,418,157 1Israel Losada Salvador COO 162,017 - 2Jone Gjerde COO 6,304,599 6,304,599 3Anette Matre CPIO 2,948,861 2,799,307 4,5Mats Hovland Vikse CRO 6,479,080 6,304,600 Carlos Roman Fernandez CPO 2,863,989 2,701,972 Jenny S. Hovda General Counsel 140,415 - Total share options 47,833,550 47,045,067 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by executive management52.8% 53.0%1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief People & Information Officer in July 2021.4 Appointed Chief Revenue Officer in July 2021. 5 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023. 2.6Other Operating ExpensesAccounting policiesOther operating expenses are recognized when they occur and represent a broad range of operating expenses incurred by the group in its day-to-day activities. Other operating expenses consist of expenses that are not classified on the lines for cost of materials, employee benefit expenses, depreciation, and amortization.USD million2022 2021Meetings, travel, and representation expenses 6.5 1.8Lease expenses 1.7 1.5Business services expenses 6.0 2.5IT costs 7.9 5.4Marketing and distribution expenses 6.8 4.1Consulting expenses 42.7 78.1Other operating expenses 5.1 3.4Total other operating expenses 76.6 96.9The group\u2019s research and development expenditure recognized as an expense during the reporting period was USD 16.3 million in 2022 and USD 14.5 million in 2021. IPO-related costs in 2021 In 2021, the group incurred significant costs related to financial, legal and consulting fees in relation to the listing on the Oslo Stock Exchange. The total cost of the IPO was allocated between the newly issued shares and the existing shares on a rational basis (i.e. by reference to the ratio of the number of new shares to the number of total shares), with only the proportion relating to the issue of new shares being deducted from equity. Total transaction costs deducted directly from equity as part of the IPO process amounted to USD 8.5 million. The remaining IPO-related costs were booked as other operating expenses or employee benefit expenses (when employee-related). USD million2022 2021Audit fee 2.2 0.6 Tax advisory services 0.1 - Attestation services 0.0 - Other advisory services 0.3 1.0 Total auditor fees (excl. VAT) 2.7 1.6 2.7Trade and Other ReceivablesAccounting policiesTrade and other receivablesThe group\u2019s trade receivables consist solely of amounts receivable from revenue contracts with customers. Trade receivables are generally on terms of 30 to 60 days. Other receivables consist of value-added tax (\u201cVAT\u201d) receivables and prepaid expenses which are expected to be realized or consumed in the normal operating cycle within 12 months after the reporting period.Trade and other receivables are financial assets initially recognized at fair value and subsequently at amortized cost using the effective interest rate method. Trade and other receivables are subject to impairment by recognizing an allowance for expected credit losses. Expected credit lossesThe group recognizes an allowance for expected credit losses (ECLs) for its financial assets. ECLs are based on the cash flows that the group expects to receive. For trade receivables, the group applies a simplified approach to calculating ECLs. Therefore, the group does not track changes in credit risk but instead recog- nizes a loss allowance based on lifetime ECLs at each reporting date. The group bases the allowance on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. USD million31.12.2022 31.12.2021Trade receivables from customers at nominal value 90.0 46.5 Allowance for expected credit losses - - Total trade receivables 90.0 46.5 Prepaid rent and other expenses 0.7 5.5 VAT receivables 17.1 12.4 Other 2.3 3.7 Total other receivables 20.0 21.5 USD million31.12.2022 31.12.2021Allowance for expected credit lossesAt January 1, 2022Debt instruments at amortized cost - - Additions through acquisition Debt instruments at amortized cost - - Provision for expected credit losses Debt instruments at amortized cost - - At December 31, 2022Debt instruments at amortized cost - - The group has not recognized any provision for expected credit losses. The group operates in a B2B market and sells its products to distribution partners. The group\u2019s distribution partners include some of the largest players in the automated warehousing market including, among others: Swisslog, Bastian Solutions, Element Logic, Dematic, Fortna, Okamura, and SoftBank Robotics. The group has not experienced any significant losses in the past. Trade receivablesAs of December 31, 2022, the aging analysis of trade receivables is as follows:Past due but not impairedUSD millionNot due < 30 days 31-60 days > 60 days TotalAging analysis of trade receivablesTrade receivables at January 1, 2021 37.5 4.1 2.1 0.0 43.8 Trade receivables at December 31, 2021 41.7 3.6 0.6 0.6 46.5 Trade receivables at December 31, 2022 81.9 6.1 0.9 1.0 90.0 For details regarding the group\u2019s procedures for managing credit risk, reference is made to note 4.7. Information on when the group considers a financial asset (such as a trade receivable) to be in default and when these assets are written off is described in note 4.1. 2.8Trade and Other PayablesAccounting policiesTrade and other payables are liabilities, i.e. present contractual obligations arising as a result of past events where settlement is expected to result in an outflow of resources (payment). Trade payables consist of invoices for goods and services where the group has received the significant risks and rewards of ownership as of December 31, 2022. Other payables mainly consist of VAT, withholding payroll, and social security tax. Trade and other payables are measured at fair value upon initial recognition and subsequently at amortized cost. Trade and other payables are expected to be settled within the normal operating cycle within twelve months after the reporting period. USD million31.12.2022 31.12.2021Trade payables 49.0 47.5 VAT payables - 0.2 Withholding payroll taxes and social security (note 7.1) 2.4 48.1 Total trade and other payables 51.5 95.8 For trade and other payables aging analysis, reference is made to note 4.3. Asset Base33.1Property, Plant and EquipmentAccounting policiesProperty, plant and equipment (\u201cPP&E\u201d) is stated at cost, net of accumulated depreciation and accumulated impairment losses. Repair and maintenance costs are recognized in profit or loss as incurred.Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The residual values, useful lives and methods of depreciation of PP&E are reviewed at each financial year-end and adjusted prospectively, if appropriate.The group assesses, at each reporting date, whether there is an indication that property, plant and equipment may be impaired. Please refer to note 3.5 for further information. Office Fixtures Transport- machinery and USD millionand fittingsation toolsequipment TotalCost January 1, 2021 9.4 0.3 2.9 12.6 Additions 2.4 - 0.4 2.8 Disposals - - - - Currency translation effects - - - - Cost December 31, 2021 11.8 0.3 3.3 15.4 Additions 3.0 0.1 5.9 9.0 Disposals - - - - Currency translation effects -0.0 -0.0 -0.0-0.1Cost December 31, 2022 14.8 0.4 9.2 24.3 Accumulated depreciation January 1, 2021 1.7 0.1 0.4 2.2 Depreciation for the year 1.5 0.0 0.4 2.0 Impairment for the year - - - - Disposals - - - - Currency translation effects - - - - Accumulated depreciation December 31, 2021 3.3 0.1 0.8 4.2 Office Fixtures Transport- machinery and USD millionand fittingsation toolsequipment TotalDepreciation for the year 1.1 0.1 1.7 2.9 Impairment for the year - - - - Disposals - - -0.0 -0.0Currency translation effects -0.0 -0.0 -0.0-0.0Accumulated depreciation December 31, 2022 4.4 0.2 2.5 7.1 Carrying amount January 1, 2021 7.7 0.2 2.5 10.4 Carrying amount December 31, 2021 8.5 0.2 2.5 11.2 Carrying amount December 31, 2022 10.4 0.2 6.7 17.3 Economic life (years) 3-7 5 3-7Depreciation plan Straight-line method3.2Right-of-Use Assets and Related LeaseLiabilitiesAccounting policiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the group assesses whether:\u2013 The agreement creates enforceable rights of payment and obligations\u2013 The identified asset is physically distinct\u2013 The supplier does not have a substantive right to substitute theasset throughout the period of use\u2013 It has the right to obtain substantially all of the economic benefitsfrom the use of the asset\u2013 It has the decision-making rights that are most relevant tochanging how and for what purpose the asset is used throughoutthe contract periodGroup as a lesseeAt the commencement date, the group recognizes a lease liability and a corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2013 Short-term leases (defined as 12 months or less)\u2013 Low-value assetsFor these leases, the group recognizes the lease payments as operating expenses in the consolidated statement of comprehensive income.Measuring the lease liabilityThe lease liability is initially measured at the present value of the lease payments for the right to use the underlying asset during the lease term that is not paid at the commencement date. The lease term represents the non-cancellable period of the lease, together with periods covered by an option to extend the lease when the group is reasonably certain to exercise this option, and periods covered by an option to terminate the lease if the group is reasonably certain not to exercise that option.The lease payments included in the measurement comprise:\u2013 Fixed lease payments, less any lease incentives received\u2013 Variable lease payments that depend on an index or a rate,initially measured using the index or rate as at thecommencement dateThe lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in index or rate.The group presents its lease liabilities as separate line items in the consolidated statement of financial position. Cash flows related to payments for the principal portion of the lease liability are classified within financing activities. Measuring the right-of-use assetThe right-of-use asset is initially measured at cost. The cost of the right-of-use asset includes the corresponding amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date and initial direct costs incurred. The right-of-use asset is subsequently measured at cost less accumu- lated depreciation and impairment losses, applying the same policies for impairment as for property, plant and equipment (note 3.5). The right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset. Depreciation is calculated on a straight-line basis.The group presents its right-of-use assets as separate line items in the consolidated statement of financial position.The group\u2019s leased assetsThe group leases several assets, mainly office buildings and production facilities in Norway, Poland, and the U.S. Additionally, the group leases a small number of vehicles (cars and trucks). The group also leases machinery and equipment, however, these are expensed as incurred, as they are either considered short-term or of low value. The right-of-use assets recognized are presented in the table below:Office buildings and production USD millionVehiclesfacilities TotalCarrying amount of right-of-use assets January 1, 2021 0.0 13.2 13.2 Addition of right-of-use assets 0.1 1.4 1.5 Depreciation of right-of-use assets -0.0 -2.5-2.5Currency translation effect - -0.6-0.6Carrying amount of right-of-use assets December 31, 2021 0.1 11.6 11.6 Addition of right-of-use assets 0.3 18.8 19.0Remeasurement of right-of-use assets 0.0 4.9 4.9Depreciation of right-of-use assets -0.1 -3.6-3.7Currency translation effect 0.0 -0.6-0.6Carrying amount of right-of-use assets December 31, 20220.3 31.0 31.3Lease term or remaining useful life 2-3 years 2-14 yearsDepreciation method Straight-line Straight-lineUSD million2022 2021Expenses in the period related to practical expedients and variable paymentsShort-term lease expenses 1.7 0.6 Low-value assets lease expenses - - Variable lease expenses in the period (not included in the lease liabilities) - 0.1 Total lease expenses in the period 1.7 0.7 The lease expenses in the period related to short-term leases and variable lease payments are included in other operating expenses in the consolidated statement of comprehensive income, and the payments are presented in the group\u2019s operating activities in the consolidated statement of cash flows.The group\u2019s lease liabilitiesUSD million31.12.2022 31.12.2021Undiscounted lease liabilities and maturity of cash outflowsLess than one year 7.3 5.2 One to three years 13.8 15.0 More than three years 26.9 11.1 Total undiscounted lease liabilities 48.0 31.3 USD millionNotes2022 2021Summary of lease liabilities in the financial statementsAt the beginning of period 16.5 18.4 Additions through acquisition - - New and remeasured leases recognized during the year 23.8 1.6 Cash payments for the principal portion of the lease liability 4.2 -3.8 -2.8Cash payments for the interest portion of the lease liability 4.2 -1.2 -0.Interest expense on lease liabilities 4.5 1.2 0.9Currency translation effects 4.5 -0.8 -0.7Total lease liabilities 35.7 16.5 Current lease liabilities in the statement of financial position 6.8 3.6 Non-current lease liabilities in the statement of financial position 28.9 12.9 Total cash outflow for the year ended December 31 -5.0 -3.6Inflation adjustmentsIn addition to the lease liabilities presented above, the group is committed to pay variable lease payments for its office buildings and manufacturing facilities mainly related to future inflation adjustments in Norway, Poland, and the U.S, which are not included in the initial calculation of lease liabilities. The lease liability and right-of-use asset will be adjusted when the inflation adjustment has a cash flow effect.Extension and termination optionsThe group has certain lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the group\u2019s business needs. Management applies judgment in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for the group to exercise either the renewal or termination option. After the commencement date, the group reassesses the lease term if there is a significant event or change of circumstances that is within its control and affects its ability to exercise or not to exercise the option to renew or terminate.The group includes the renewal period for leases as a part of the lease term for leases where management is reasonably certain to exercise the option to renew the leases. Furthermore, the periods covered by termination options are included as part of the lease term only when the options are reasonably certain not to be exercised. As most of AutoStore\u2019s contracts represent relatively standardized office facilities, extension options are in most cases not taken into consideration when determining the lease term when the initial contract term is five years and above.Other mattersThe group\u2019s leases do not contain provisions or restrictions that impact the group\u2019s dividend policies or financing possibilities. Further, the group does not have significant residual value guarantees related to its leases.Lease commitments not yet commencedAs at December 31, 2022, the group has three lease contracts that have not yet commenced, of which all are related to office buildings. The future lease payments for these non-cancellable lease contracts are USD 0.5 million within one year, USD 4.8 million within five years and USD 2.3 million after five years. The group does not have any other significant exposure related to its leases which requires further disclosures. 3.3GoodwillAccounting policiesRecognized goodwill originates from the acquisition of AutoStore by Thomas H. Lee Partners in 2019 and the acquisition of Locai in 2021. Please refer to note 6.2 for further information. The value of goodwill is primarily related to synergies, assembled workforce and their competency to generate and commercialize new technology, as well as high growth expectations. Goodwill also arises due to the requirement to recognize deferred tax liabilities for the difference between the assigned values and the tax bases of assets acquired and liabilities assumed in a business combination at amounts that do not reflect fair value.Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.The goodwill from the acquisitions of AutoStore in 2019 and Locai in 2021 was allocated to the AutoStore system CGU. The key assump- tions used to determine the recoverable amount of the CGU are disclosed in note 3.5.USD million Note Goodwill Cost January 1, 2021 1,256.0 Additions through acquisition 6.2 9.2 Currency translation effects -41.0 Cost December 31, 2021 1,224.2 Additions through acquisition - Currency translation effects -127.8 Cost December 31, 2022 1,096.4 Carrying amount January 1, 2021 1,256.0 Carrying amount December 31, 2021 1,224.2 Carrying amount December 31, 2022 1,096.4 3.4Other Intangible AssetsNature of the group\u2019s intangible assetsAt the acquisition of AutoStore by Thomas H. Lee Partners in 2019, the group recognized intangible assets for: technology, trademarks, patents, and customer relations. Subsequently, the group has recognized intangible assets comprising internal development projects related to the AutoStore system. In connection with the acquisition of Locai in 2021, the group has recognized intangible assets comprising software and technology.Accounting policiesIntangible assets acquired separately are measured on initial recog-nition at cost. The cost of intangible assets acquired in a business combination is their fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Government grantsGovernment grants are recognized where there is reasonable assur- ance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset. The group\u2019s government grants relate primarily to compensation for research and development, which are recognized as a reduction in capitalized assets and decreases the future amortization expense. Significant accounting judgmentsCapitalization of internal development costsDevelopment expenditures on an individual project, which represent new applications/technology, are recognized as an intangible asset when the group can demonstrate:\u2013 The technical feasibility of completing the intangible assetso that the asset will be available for use or sale\u2013 Its intention to complete and its ability and intention to useor sell the asset\u2013 How the asset will generate future economic benefits\u2013 The availability of resources to complete the asset\u2013 The ability to measure reliably the expenditure during devolopmentOther costs are classified as research and are expensed as incurred. These expenses are disclosed in note 2.6. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when the asset is available for its intended use and is amortized over the period of expected future benefit. When an asset is available for its intended use, it is reclassified from internal development to the respective relevant asset class.Initial capitalization of direct costs is based on management\u2019s judgment that technological and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalized, management makes assumptions regarding the expected future cash generation of the pro- ject, discount rates to be applied, and the expected period of benefits. The assessment of when product development is capitalized is highly subjective, as the outcome of these projects may be uncertain. Significant accounting estimatesand assumptionsUseful lives of intangibles The useful lives of intangible assets are assessed as either finite or indefinite and may in some cases involve considerable judgments. Intangible assets with indefinite useful lives are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Intangible assets with finite useful lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in the statement of comprehensive income in the line for amortization of intangible assets. A potential change in the remaining useful life of an intangible asset would have resulted in increased or decreased amortization expense and a corresponding decrease or increase in profit and equity. Trademarks that have existed for a long period of time and have a sound reputation at the time of acquisition are assessed as having an indefinite useful life, and are not amortized. An indefinite useful life means that it is not possible to estimate the foreseeable period over which the asset is expected to generate net cash inflows for the entity. Only trademarks that are purchased through the acqui-sition of companies are capitalized in the consolidated financial statements.See note 3.5 for impairment considerations and annual testing of the group\u2019s intangible assets with indefinite useful lives. No indicators for impairment of intangible assets were identified in the current or prior year. The group\u2019s classification of intangible assetsSoftware and technology The value of the group\u2019s intangible asset primarily relates to the underlying robot/robot technology and the integrated software that controls and optimizes the performance of every robot and moving part of the system. The underlying base technology was recognized through the acquisition of AutoStore by Thomas H. Lee Partners in 2019. Base technology capitalized through the PPA is amortized over the expected useful life of 25 years. New products and features being developed with shorter expected useful life using this base technology are generally amortized over 5 years. In 2021, USD 3.6 million related to the Locai acquisition was also capitalized. Internal development Internally developed assets are amortized from the time when the assets are available for use, i.e. when it is in the location and con- dition necessary for it to be capable of operating in the manner intended by management and reclassified to either software and technology or patents, based on the type and nature of the internally developed asset. PatentsPatents are intangible assets arising from legal rights. Patents are amortized over 13-18 years, which is the period of the contractual or other legal rights and the period (determined by economic factors) over which the group expects to obtain economic benefits from the asset. Customer relationshipsCustomer relationships were recognized through the acquisition of AutoStore in 2019 and represent the value of the company\u2019s distributor relationships at the time of the acquisition. Customer relationships are amortized on a straight-line basis over 5 years, being the estimated useful life of benefit from the acquisition date of customer relationships. Trademarks Trademarks were recognized through the acquisition of AutoStore in 2019. Trademarks have an indefinite useful life and are tested for impairment annually. SoftwareCustomerInternalTrade-and tech-Patents relation-develop -USD millionmarksnologyrightsshipsment TotalCost January 1, 2021 6.9 470.4 90.2 125.6 19.4 712.5 Additions through acquisitions - 3.6 - - - 3.6 Additions - - - - 28.2 28.2 Reclassification - 23.1 4.4 - -27.5 - Currency translation effects 0.3 -11.1 0.9 -2.4 -6.2 -18.4 Cost December 31, 2021 7.2 486.1 95.4 123.2 13.9 725.8 Additions - - - - 34.1 34.1 Reclassification - 18.7 5.6 - -24.3 - Currency translation effects -1.2 -48.0 -7.3 -6.2 -0.3 -63.0 Cost December 31, 2022 6.0 456.7 93.7 117.0 23.5 697.0 Accumulated amortization January 1, 2021 - 25.4 6.8 34.3 1.6 68.2 Amortization for the year - 22.6 5.7 25.3 - 53.7 Reclassification - 1.3 0.3 - -1.6 - Currency translation effects - -0.1 -0.0 -0.1 - -0.2 Accumulated amortization December 31, 2021 - 49.3 12.8 59.6 0.0 121.6 Amortization for the year - 22.8 5.6 22.7 - 51.1 Currency translation effects - -0.2 -0.1 -0.1 - -0.4 Accumulated amortization December 31, 2022 - 71.9 18.3 82.1 0.0 172.3 Carrying amount January 1, 2021 6.9 445.0 83.4 91.3 17.7 644.3 Carrying amount December 31, 2021 7.2 436.7 82.7 63.7 13.9 604.0 Carrying amount December 31, 2022 6.0 384.8 75.4 34.9 23.5 524.6 Economic life (years) Indefinite5-25 13-18 5.0 N/AAmortization methodN/AStraight-lineNew additions recognized during 2022 relate to USD 34.1 million of internal development costs, compared to USD 28.2 million in 2021. Internal development costs of USD 24.3 million related to finished projects are reclassified to software and technology and patents, USD 27.5 million were reclassified in 2021.3.5Impairment ConsiderationsAccounting policiesAt the reporting date, the group assesses whether there are external or internal indicators of impairment of property, plant and equipment (\u201cPP&E\u201d), right-of-use assets, intangible assets, and goodwill. Impairment indicators will typically be changes in market develop-ments, competitive situations and technological developments. The group has goodwill and trademarks with indefinite useful lives (see notes 3.3 and 3.4) and internal development projects in progress that are tested for impairment annually, or more often, when the circumstances indicate that the carrying value may be impaired.For the purpose of impairment testing, assets (except goodwill) are grouped together into the smallest group of assets that generates independent cash flows (cash-generating units, CGUs). Goodwill is allocated to the cash-generating units that are expected to benefit from the synergies of the combination. Impairment is determined by assessing the recoverable amount of each CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. An asset\u2019s recov-erable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is con- sidered impaired and is written down to its recoverable amount.The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm\u2019s length terms, for similar assets or observable market prices less incremental costs for disposing of the asset. In determining fair value less costs of dis- posal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Impairment losses recognized in respect to CGUs are first allocated to reduce the carrying amount of any goodwill; any remaining amount is then allocated to reduce the carrying amounts of the other assets in the unit. Impairment losses are reversed if the loss no longer exists for intangible and fixed assets, while impairment losses relating to goodwill cannot be reversed in future periods.Impairment assessment of PP&E, right-of-use assets and intangible assets with finite useful lifeWhen reviewing for indication of impairment of PP&E, right-of-use assets, and intangible assets with a finite useful life, the group considers the relationship between the estimated market capital-ization of the group and its book value. In addition, the group considers factors such as industry growth, the impact of general economic conditions, changes to the technological and legal environment, and the group\u2019s market share and performance compared to previous forecasts in this assessment, among other factors. No impairments have been recognized to the group\u2019s PP&E, right-of-use assets, and intangible assets with finite useful life on December 31, 2022 or December 31, 2021. Impairment assessment of goodwill and intangible assets with indefinite useful lifeThe group performs the impairment test of goodwill and assets with indefinite useful life on December 31 or when circumstances indicate that the carrying value may be impaired. AutoStore system \u2013 CGU The AutoStore Group is being monitored as one unit by management and operates as a separate business. Cash flows are reported in the same format as the quarterly and annual reports, on a group level.Following the acquisition by Thomas H. Lee Partners in July 2019 and the acquisition of Locai in 2021, goodwill was allocated to one CGU (the \u201cAutoStore CGU\u201d). The group has determined one oper- ating segment, i.e. AutoStore system according to IFRS 8 Operating Segments, which is the same level as the CGU determined for the goodwill impairment test. The AutoStore system is currently the smallest identifiable group of assets that generates cash inflows to the group, and these are largely independent of the cash inflows from other assets. As the group\u2019s trademark is an intangible asset with an indefinite useful life that does not generate largely inde- pendent cash inflows, impairment is tested based on the AutoStore system CGU and any impairment is made proportionate to the asset\u2019s carrying amount. Basis for determining the recoverable amountThe CGU\u2019s recoverable amount has been determined based on its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The cash flows are derived from the detailed budget and forecast calculations for the next five years approved by the Board of Directors. Restructuring activities and significant future investments are excluded from the budgets. A long-term growth rate is calculated and applied to project future cash flows after the forecast period. The table below outlines the carrying amounts of goodwill and intan-gible assets with indefinite useful lives and intangible assets not yet commenced amortization, which are tested for impairment annually.USD million31.12.2022 31.12.2021AutoStore system - CGUGoodwill 1,096.4 1,224.2 Trademarks 6.0 7.2 Internal development projects in progress 23.5 13.9 Total carrying amount 1,125.9 1,245.3 The recoverable amount is sensitive to revenue growth in the forecast period, the discount rate, expected future cash flows, and the terminal growth rate (further described below). The recoverable amount of the cash-generating unit is higher than its carrying amount and no impairment loss is recognized in the year. The carrying amount of the CGU includes goodwill, intangible assets and trademarks together with other operational assets and net working capital. Management believes that no reasonably probable change in the key assumptions would cause the carrying amount of the CGU to materially exceed its recoverable amount. The result of the annual impairment test is further evidenced by a P/B-level of 4.6 on traded shares as of December 31, 2022. Significant accounting estimates and assumptionsImpairment testing of goodwill, trademarks and internal development projects in progressThe calculation of value in use for the AutoStore system CGU is most sensitive to the following assumptions: \u2013 Compound annual growth rate (CAGR) of sales in the forecast period \u2013 Operating cash flow margin \u2013 Pre-tax discount rate \u2013 Terminal growth rateCAGR of sales in the forecast period The expected growth in operating revenue is based on the expected high growth in the industry and AutoStore\u2019s market share. The growth forecast is based on management\u2019s expectations of future conditions in the market, including the entry of new partici-pants to the market. Operating cash flow marginThe operating cash flow margin is determined based on an analysis of historical levels of revenue, cost of goods sold (COGS) and operating expenses, while forward-looking estimates are derived using scenario-weighted assumptions for these profit and loss/cash flow measures.Pre-tax discount rateThe pre-tax discount rate is set to 11.7% as of December 31, 2022, compared to 10.7% in 2021. The rate is estimated based on the weighted average cost of capital (WACC), and is an estimate of the market risks specific to the CGU.Terminal growth rateThe terminal growth rate, which is set to 2.0% as of December 31, 2022, is the estimated long-term rate of growth in the economy where the business operates, aligned with long-term global inflation targets.Climate-related matters The group constantly monitors the latest government regulations in relation to climate-related matters. As of December 31, 2022, no regulation has been passed that will impact the group. The group will adjust the key assumptions used in value-in-use calculations and sensitivity to changes in assumptions should a change be required. Financial Instruments, Risk and Equity44.1Overview of Financial InstrumentsAccounting policiesA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.Classification of financial instrumentsThe group\u2019s financial instruments are grouped into the following categories:Financial assetsFinancial assets measured subsequently at amortized cost: Includes mainly trade and other receivables and cash and cash equivalents.All of the group\u2019s financial assets are part of the group\u2019s business model with the sole objective to collect contractual cash flows. Additionally, the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding, thereby passing the \u201cSolely Payments of Principal and Interest\u201d (\u201cSPPI\u201d) test.Financial liabilitiesFinancial liabilities measured subsequently at amortized cost: Represent the group\u2019s interest-bearing liabilities, as well as non- interest-bearing liabilities such as trade payables. The group does not have derivative financial instruments. None of the group\u2019s financial liabilities are designated at fair value through profit or loss, i.e. they are all measured at amortized cost. Initial recognition and subsequent measurementFinancial assets and liabilities at amortized costThe group\u2019s financial assets and liabilities are initially recognized at fair value plus directly attributable transaction expenses. Subsequently, these instruments are measured at amortized cost using the effective interest rate method (\u201cEIR\u201d). Gains and losses are recognized in profit or loss upon impairment when the instru-ments are derecognized, as well as through the EIR amortization process.Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The amortization is included as finance costs in the statement of comprehensive income.The effective interest rate is the rate that exactly discounts esti- mated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.Impairment of financial assetsFinancial assets measured at amortized cost are considered for impairment by recognizing an allowance for expected credit losses (ECLs). The group applies a simplified approach (as applicable for trade receivables) in calculating ECLs, where the group does not track changes in credit risk but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The group bases its ECLs on its historical losses, adjusted for forward-looking factors specific to the debtors and the economic environment (e.g. market trends, default rates in the retail market, etc.). See note 4.7 for further information related to the management of credit risk.The group considers a financial asset to be in default when internal or external information indicates that the group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Derecognition of financial instrumentsA financial asset is derecognized when the rights to receive cash flows from the asset have expired, the group has transferred its rights to receive cash flows from the asset or the group has assumed an obligation to pay the received cash flows in full under a \u201cpass- through\u201d arrangement.A financial liability is derecognized when the obligation under the liability is discharged, canceled, or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statement of comprehensive income.IBOR reformThe group has non-current interest-bearing loans and borrowings with indexed interest rates based on EURIBOR and LIBOR. As a consequence of the IBOR reform, LIBOR is expected to be discon-tinued as a benchmark rate in June 2023 and will be replaced by new benchmark rates, known as alternative Risk Free Rates (RFRs). EURIBOR is already reformed and no further changes are expected as of this date. The group is continuously monitoring the situation and working on replacing the LIBOR with a reformed benchmark rate (SOFR), however as of December 31, 2022, the group does not expect any significant effects on the group\u2019s financial reporting as a result of the IBOR reform.The carrying amounts of the group\u2019s financial assets and liabilities are presented in the tables below:USD millionNotes 31.12.2022 31.12.2021AssetsLoans and receivables Trade receivables 2.7 90.0 46.5 Cash and cash equivalents 4.4 174.8 146.9 Other non-current assets 1.6 3.0 Total financial assets 266.4 196.4 Liabilities Interest-bearing loans and borrowings,including trade payablesNon-current interest-bearing liabilities 4.2 421.8 435.6 Current interest-bearing liabilities 4.2 1.0 0.7 Trade payables 2.8 49.0 47.5 Non-current lease liabilities 3.2 28.9 12.9 Current lease liabilities 3.2 6.8 3.6 Total financial liabilities 507.5 500.3 Significant finance income and finance costs arising from the group\u2019s financial instruments are disclosed separately in note 4.5. There are no changes in classification and measurement for the group\u2019s financial assets and liabilities.4.2Interest-bearing LiabilitiesUSD millionMaturity Interest rate 31.12.2022 31.12.20211Senior Facilities: Facility B (EUR) 30.07.26 EURIBOR +2.5% 260.2 276.3 1Senior Facilities: Facility B (USD) 30.07.26 LIBOR +3.25% 167.0 16 7.0 Capitalized fees - Facility B + SL Facility -5.4 -7.7 Total non-current interest-bearing loans and borrowings 421.8 435.6 USD millionMaturity Interest rate 31.12.2022 31.12.2021 1Senior Facilities: Facility B (EUR)30.07.26 EURIBOR +2.5% 1.0 0.71Senior Facilities: Facility B (USD) 30.07.26 LIBOR +3.25% - -Total current interest-bearing loans and borrowings 1.0 0.7 1 The Facilities have an interest rate floor of 0%, as such the base rate may not be negative.In November 2021, the group established a new revolving credit facility (RCF) that may be drawn at any time up to USD 150 million. The revolving facility bears interest at a rate of LIBOR +2.00%. The group has not drawn any amounts on the RCF as of December 31, 2022. Management has assessed that the fair value of interest- bearing loans and borrowings are not significantly different from their carrying amounts.Secured non-current debt of USD 450.7 million consists of long-term interest-bearing loans and borrowings of USD 421.8 million and USD 28.9 million of the long-term portion of leasing liabilities. The group has pledged shares and bank accounts in the subsidiaries AutoStore AS, AutoStore Technology AS, Automate Bidco AS, and Automate Holdco I AS to the credit institutions as security for the USD 421.8 million long-term interest-bearing loans and borrowings. The lease liabilities of USD 28.9 million are secured with the lessors having security in the underlying leasing objects. The assets pledged by the group as security for its interest-bearing loans and borrowings are presented in the table below:USD million31.12.2022 31.12.2021Secured balance sheet liabilitiesNon-current interest-bearing loans and borrowings 421.8 435.6 Current interest-bearing loans and borrowings 1.0 0.7Total secured balance sheet liabilities422.8 436.3Balance sheet value of assets pledged as security for secured liabilitiesProperty, plant and equipment 17.3 11.2 Right-of-use assets 31.3 11.6 Intangible assets 524.6 604.0 Other non-current assets 1.6 3.0 Inventories 83.5 51.4 Trade receivables 90.0 46.5 Other receivables 19.9 21.2 Cash and cash equivalents 126.5 66.8 Total assets pledged as security for interest-bearing loans and borrowings 894.5 815.8 The group has not given any guarantees to or on behalf of third parties in the current and previous periods. Covenant requirementsThe revolving credit facility contains a \u201cspringing\u201d financial covenant which is set at a senior secured net leverage ratio of 6.75x. The financial covenant under the new revolving credit facility will only be tested on a semi-annual date if, at that semi-annual date, the cash drawings under the new revolving credit facility (subject to certain carve-outs and net cash and cash equivalents of the group) exceeds 40% of the total commitments under the new revolving credit facility.The credit agreements contain certain additional \u201cincurrence\u201d covenants that are tested upon the occurrence of an event rather than on an ongoing basis and which limit, among other things, the company\u2019s use of capital. These covenants can only be violated as a result of a voluntary action, including, but not limited to, (i) incurring debt; (ii) paying a dividend or otherwise distributing value outside the restricted group; (iii) making a non-controlling investment; (iv) selling an asset; (v) completing certain mergers; (vi) granting a guarantee of third-party indebtedness; (viii) making a loan to a third party; (ix) permitting a dividend blocker; (x) entering into a transaction with an affiliate; or (xi) granting a lien. Each of these covenants is subject to customary carve-outs, permissions and certain debt baskets, and for so long as the group remains listed with a Senior Secured Net Leverage that does not exceed 3.50x, the restrictions specified in paragraphs (i) to (x) (inclusive) are suspended. Based on the above, no covenant testing was required as of December 31, 2022.4.3Aging of Financial LiabilitiesContractual undiscounted cash flows from financial liabilities are presented below:Less than 6 to 12 1 to 3 Over 3 6 monthsmonthsyearsyears TotalUSD millionLease liability (note 3.2) 3.6 3.6 13.8 26.9 48.0 1Non-current interest-bearing loans and borrowings (note 4.2) 13.0 13.0 52.2 440.2518.5Current interest-bearing loans and borrowings (note 4.2) 1.0 - - - 1.0 Trade payables (note 2.8) 49.0 - - - 49.0 Total December 31, 202266.7 16.7 66.0 467.1 616.5Lease liability (note 3.2) 2.6 2.6 15.0 11.1 31.3 1Non-current interest-bearing loans and borrowings (note 4.2) 6.2 6.2 24.7 461.8 498.8 Current interest-bearing loans and borrowings (note 4.2) 0.7 - - - 0.7 Trade payables (note 2.8) 47.5 - - - 47.5 Total December 31, 2021 57.0 8.8 39.6 472.9 578.3 1 Cash flows disclosed for non-current interest-bearing loans and borrowings also include estimated interest payments based on current level of interest.Reconciliation of changes in liabilities incurred as a result of financing activities in 2022:Non-cash changesCash Foreign 31.12. flow exchange New leases Other 31.12. USD million2021effectmovementrecognizedchanges2022Lease liabilities (note 3.2) 16.5 -5.0 -0.8 23.8 1.2 35.7 Non-current interest-bearing loans and borrowings 435.6 -14.4 -16.1 - 16.8 421.8 - The facilities (note 4.2)Current interest-bearing loans and borrowings 0.7 -0.7 - - 1.0 1.0 (note 4.2)Total liabilities from financing 452.8 -20.1 -16.9 23.8 18.9 458.5 Reconciliation of changes in liabilities incurred as a result of financing activities in 2021:Non-cash changesCash Foreign 1.1. flow exchange New leases Other 31.12. USD million2021effectmovementrecognizedchanges2021Lease liabilities (note 3.2) 18.4 -3.6 -0.7 1.6 0.9 16.5 Non-current interest-bearing loans and borrowings 692.2 -266.8 -22.6 - 32.7 435.6 - The facilities (note 4.2)Current interest-bearing loans and borrowings 2.8 -2.8 - - 0.7 0.7 (note 4.2)Total liabilities from financing 713.4 -273.2 -23.3 1.6 34.3 452.8 Cash flow effects related to non-current interest-bearing loans and borrowings disclosed above include both principal payments (or proceeds from issuance of new debt) and interest payments. The \u201cOther\u201d column includes the effect of reclassification of non-current portion of interest-bearing loans and borrowings, and the effect of accrued interest during the year and amortization on interest-bearing loans and borrowings. The group classifies interest paid as cash flows from financing activities. 4.4Cash and Cash EquivalentsAccounting policiesCash and cash equivalents in the statement of financial position comprise cash at banks and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.USD million31.12.2022 31.12.2021Bank deposits, unrestricted 172.1 109.7 Bank deposits, restricted 2.8 37.2 Total cash and cash equivalents 174.8 146.9 \u201cBank deposits, restricted\u201d mainly consists of employee tax and deposits.The company has multiple banking relationships for its deposits.For more information on the group\u2019s credit facilities, please refer to note 4.2.4.5Finance Income and Finance CostsAccounting policiesInterest income and interest expenses on loans and receivables are calculated using the effective interest method. Foreign currency gains or losses are reported as foreign exchange loss or foreign exchange gain in financial income or financial expense, except for currency translation effects from investments in foreign subsidiaries, which are presented within other compre-hensive income (OCI). For other accounting policies related to the underlying financial instruments, reference is made to note 4.1.Interest expense on lease liabilities represents the interest rate implicit in the lease, or the incremental borrowing rate used to measure the lease liabilities recognized in the balance sheet. For further information, please refer to note 3.2.USD million2022 2021Finance incomeNet foreign exchange gain - 19.2Interest income Financial assets 4.2 0.0Total finance income 4.2 19.2 Finance costsNet foreign exchange loss 21.2 0Interest expenses (note 4.2) Interest-bearing loans and borrowings 19.7 30.6 Amortization of transaction cost (note 4.2) Interest-bearing loans and borrowings 2.3 6.5 Interest on lease liability (note 3.2) Other financial liabilities 1.2 0.9 Other financial expenses Interest-bearing loans and borrowings -0.4 3.2 Total finance costs 44.0 41.2 Net finance cost in 2022 was USD 39.8 million compared to USD 22.0 million in 2021. The main difference relates to changes in foreign exchange gain/loss on the group\u2019s deposits and long-term loans in currencies other than the functional currency. The decrease in interest expenses is a result of partial repayment of long-term loans in November 2021. 4.6Fair Value MeasurementAccounting policiesFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: \u2013 In the principal market for the asset or liability, or \u2013 In the absence of a principal market, in the most advantageous market for the asset or liabilityThe principal or the most advantageous market must be accessible by the group.The fair value of an asset or a liability is measured using the as- sumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant\u2019s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another participant that would use the asset at its highest and best use.The group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.All assets and liabilities for which fair value is measured or dis- closed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2013 Level 1 \u2013 Quoted (unadjusted) market prices in active markets for identical assets or liabilities \u2013evel 2 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable \u2013evel 3 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservableFair value disclosuresManagement has assessed that the fair values of cash and short- term deposits, trade and other receivables, trade payables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments and the current risk-free interest rates. Interest-bearing loans and borrowings The fair values of the group\u2019s interest-bearing loans and borrowings are determined by using the Discounted Cash Flow (DCF) method using a discount rate that reflects the issuer\u2019s borrowing rate at the end of the reporting period. The fair values of the group\u2019s inter-est-bearing loans and borrowings are in most cases similar to the carrying amount, as the interest rates are floating and as the own non-performance risk as at December 31, 2022 was assessed to be insignificant.Set out below is a comparison, by class, of the carrying amounts and fair values of the group\u2019s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values:Carrying USD millionDateamount Fair value Level 1 Level 2 Level 3Liabilities disclosed at fair valueInterest-bearing loans and borrowings December 31, 2022 422.8 422.8 X(note 4.2)Interest-bearing loans and borrowings December 31, 2021 436.3 436.3 X(note 4.2) The type and nature of the group\u2019s funding did not change in 2022 compared to 2021, therefore a transfer between levels did not occur.4.7Financial RiskOverviewThe group is exposed to a range of financial risks affecting its financial performance, including market risk, financial risk, credit risk and liquidity risk. The group seeks to minimize potential adverse effects of such risks through sound business practice, risk manage-ment and hedging. At the current time, the liquidity risk of the group is assessed to be low based on the operating cash flows, scheduled repayments of debt and the availability of credit facilities. Risk management is carried out by group management under policies approved by the Board. The Board reviews and agrees on policies for managing each of these risks, which are summa- rized below.Market risksMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk includes interest rate risk and foreign currency risk.Interest rate riskInterest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The group\u2019s exposure to the risk of changes in market interest rates relates primarily to the group\u2019s Senior Facilities, which have base interest rates in LIBOR and EURIBOR. The group does not currently hedge the base interest rates. The current interest rate environment is low and the group may enter into contracts to offset some of the risks depending on the future expected interest rates. For information on the IBOR reform and the group\u2019s assessment, see note 4.1.Interest rate sensitivityThe sensitivity to a possible change in interest rates, with all other variables held constant, on the group\u2019s profit before tax, is illustrated below. In calculating the sensitivity analyses, the group assumes that the sensitivity of the relevant statement of profit or loss item is the effect of the assumed changes in respective financial risks.Increase/decrease Increase/decrease Increase/decrease1USD million in basis points in profit before tax in OCI December 31, 2022 +/- 100 4.3 - December 31, 2021 +/- 100 4.4 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Foreign currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The group\u2019s international business activities, supply chain, and global distribution network expose it to foreign exchange transaction risk and translation risk. The group\u2019s risk of changes in foreign exchange rates relate primarily to the group\u2019s operating activities (revenues and expenses denominated in a foreign currency), external financing through interest-bearing liabilities and the group\u2019s net investment in foreign subsidiaries. The group\u2019s presentation currency is USD. Accordingly, changes in the value of the currencies in which it generates revenues and incurs costs in relation to USD affect the group\u2019s overall revenue, profit or loss and financial position. Transactional risk arises when the group\u2019s entities enter into transactions in currencies different than the entities\u2019 functional currencies. A significant part of revenues is denominated in USD and EUR, with a smaller portion in NOK. Furthermore, a significant amount of the materials used in the group\u2019s production are sourced from suppliers located in countries that have adopted Zloty (\u201cPLN\u201d) and EUR. The group\u2019s suppliers are generally paid in EUR in addition to PLN, as such the group has significant costs in EUR and PLN. A large portion of the group\u2019s operations are conducted in Norway, where transactions to a large extent are made in NOK and, as such, the group has significant costs in NOK. In case of unfavorable exchange rate fluctuations, such as a strong currency in the country of a supplier, and the group due to compet-itive pressure being unable to raise its prices, the group may face reduced gross margins leading to a decline in net results and a competitive disadvantage. Products and services provided and invoiced to the group in markets, with weaker local currencies may also lead to lower profit margins which could have an adverse effect on the group\u2019s business, results of operations, financial condition and cash flow.The group tries to limit its foreign currency exposure by having similar currencies for its revenues and operating expenses. The group\u2019s interest-bearing liabilities are also denominated in the same foreign currencies, EUR and USD, thus the group has a natural hedge that reduces the impact of currency fluctuations in these currencies. The group does not hedge currency exposure with the use of financial instruments at the current time but monitors the net exposure over time. Foreign currency sensitivityThe following table illustrates the sensitivity of the group\u2019s interest- bearing liabilities denominated in USD and EUR to a hypothetical increase or decrease in the foreign exchange rates in the period, holding all other variables constant: Change in Increase/decrease Increase/decrease1 USD million DateFX rate in profit before tax in OCIIncrease/decrease in NOK/USD December 31, 2022 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2022 +/- 10% 26.0 - Increase/decrease in NOK/USD December 31, 2021 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2021 +/- 10% 27.6 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Credit riskCredit risk is the risk that a counterparty will not meet its obliga-tions under a financial instrument or customer contract, leading to a financial loss. The group is mainly exposed to credit risk from its operating activities.In order to offset the risk on trade receivables, the company has entered into a credit insurance agreement. Additionally, the group manages its credit risks by trading only with recognized, credit-worthy third parties (mainly distributors/partners). It is the group\u2019s policy that all customers wishing to trade on credit terms are subject to credit verification procedures, which include an assess- ment of credit rating, short-term liquidity and financial position. The group obtains sufficient collateral (where appropriate) from customers as a means of mitigating the risk of financial loss from defaults. In addition, receivable balances are monitored on an ongoing basis, with the result that the group\u2019s exposure to losses has been insignificant and the overall credit risk is assessed as low (i.e. the group has not experienced any losses in the past).An impairment analysis is performed at each reporting date to measure expected credit losses. The provision rates are based on days past due, product type, customer type and rating and cover- age by letters of credit or other forms of credit insurance. For an overview of the aging of trade receivables and the expected credit losses recognized for trade receivables, please refer to note 2.7. Liquidity riskLiquidity risk is the risk that the group will encounter difficultyin meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The group monitors its risk of a shortage of funds by monitoring its working capital, overdue trade receivables and establishing credit facilities. The group\u2019s business requires access to significant credit and guarantee lines and other financing instruments. Its business could be negatively affected if the group is unable to meet its capital require- ments in the future, for example as a result of weak financial market environments, a significant deterioration of its credit standing, a breach of or default under a credit facility agreement or if access to capital becomes cost prohibitive. The group\u2019s business activities could also be negatively affected if its customers or suppliers do not have access to financing on economically viable terms. The group\u2019s objective is to maintain a balance between continuity of funding and flexibility through the use of credit facilities and the Senior Facilities agreement to finance working capital and investments. The group has flexible debt financing through a Revolving Credit Facility as part of the Senior Facilities and may further draw funds or establish additional incremental revolving facilities if deemed necessary (note 4.2). Additionally, the group has a significant positive cash flow from operating activities which limits its liquidity risk. An overview of the maturity profile of the group\u2019s financial liabilities with corresponding cash flow effects is presented in note 4.3.4.8Equity and ShareholdersFor the purpose of the group\u2019s capital management, capital includes issued capital and all other equity reserves attributable to the equity holders of the parent. The primary objective of the group\u2019s capital management is to ensure that it maintains healthy working capital and financial stability in order to support its growing business operations and maximize shareholder value.The group manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the group may adjust the dividend payment to shareholders, return capital to shareholders, issue new shares, perform prepayments of debt or draw on short-term credit. In order to achieve this overall objective, the group\u2019s capital manage- ment, among other things, aims to ensure that it reinvests or returns excess cash flows from operations that are not necessary to maintain a healthy operating working capital to its investors. There has been no breach of the financial covenants in the current or previous period. Reference is made to note 4.2.Issued capital and reserves:Number of shares Par value perFinancial position 1Share capital in AutoStore Holdings Ltd.authorized and fully paidshare (USD)(USD million) At January 1, 2021 3,163,317,200 0.01 35.24 Share issue at January 4 9,279,444 0.01 0.11 Share issue at January 22 9,810,000 0.01 0.12 Share issue at April 13 41,113,780 0.01 0.49 (exercise of share options)Share issue at October 12 6,220,005 0.01 0.07 Cancellation of share issue at October 13 -1,200,000 0.01 -0.01Capital reorganization at October 14 - - -3.74Share issue at October 14 (treasury shares) 200,000,000 0.01 2.00At December 31, 2021 3,428,540,429 0.01 34.29 At December 31, 2022 3,428,540,429 0.01 34.29 1 Par value per share of Automate Holdings S.\u00e0 r.l. was 0.01 EUR, while par value per share of AutoStore Holdings Ltd. is 0.01 USD. The table above presents the shares in Automate Holdings S.\u00e0 r.l. until the reorganization on October 14, 2021. From this date, the number of shares and share capital presented represent the capital of AutoStore Holdings Ltd. AutoStore Holdings Ltd. was incorpo-rated on August 31, 2021 with an initial share capital of USD 100. The above-presented shares are issued and fully paid, and include a total of 89,392,501 treasury shares as at December 31, 2022. The authorized share capital of AutoStore Holdings Ltd. is USD 42,500,000, consisting of 4,250,000,000 shares.Reconciliation of the group\u2019s equity is presented in the statement of changes in equity.2022Shareholders of the group Country Account type Total shares Ownership Voting rights(AutoStore Holdings Ltd.)The Bank of New York Mellon U.S. Nominee 1,316,409,731 38.40% 38.40%Citibank, N.A. Ireland Nominee 1,133,373,367 33.06% 33.06%State Street Bank and Trust Comp U.S. Nominee 128,792,039 3.76% 3.76%Alecta Tjanstepension Omsesidigt Luxembourg Ordinary 90,928,350 2.65% 2.65%AutoStore Holdings Ltd. Norway Ordinary 89,392,501 2.61% 2.61%The Bank of New York Mellon U.S. Nominee 85,404,717 2.49% 2.49%JPMorgan Chase Bank, N.A., London UK Nominee 65,003,480 1.90% 1.90%Folketrygdfondet Norway Ordinary 52,327,053 1.53% 1.53%State Street Bank and Trust Comp U.S. Nominee 30,747,612 0.90% 0.90%Lyngneset Invest AS Norway Ordinary 23,183,898 0.68% 0.68%Sumitomo Mitsui Trust Bank (U.S.A) U.S. Nominee 20,482,771 0.60% 0.60%Citibank, N.A. Ireland Nominee 13,951,446 0.41% 0.41%The Bank of New York Mellon U.S. Nominee 12,844,341 0.37% 0.37%Brown Brothers Harriman & Co. U.S. Nominee 12,580,978 0.37% 0.37%The Northern Trust Comp, London Br UK Nominee 11,763,522 0.34% 0.34%Jakob Hatteland Holding AS Norway Ordinary 10,950,000 0.32% 0.32%Polysys AS Norway Ordinary 10,800,000 0.32% 0.32%State Street Bank and Trust Comp U.S. Nominee 10,316,264 0.30% 0.30%J.P. Morgan SE Luxembourg Nominee 10,072,047 0.29% 0.29%Brown Brothers Harriman & Co. U.S. Nominee 7,842,569 0.23% 0.23%Other shareholders 291,373,743 8.50% 8.50%At December 31, 2022 3,428,540,429 100% 100%2021Shareholders of the group Country Account type Total shares Ownership Voting rights(AutoStore Holdings Ltd.)The Bank of New York Mellon U.S. Nominee 1,321,295,717 38.54% 38.54%Bank of America, N.A. U.S. Nominee 1,133,373,367 33.06% 33.06%State Street Bank and Trust Comp U.S. Nominee 141,188,997 4.12% 4.12%Terminator Holding S.a.r.l Luxembourg Ordinary 123,970,423 3.62% 3.62%Autostore Holdings Ltd. Bermuda Ordinary 90,547,342 2.64% 2.64%JPMorgan Chase Bank, N.A., London U.S. Nominee 67,832,799 1.98% 1.98%Alecta Pensionsforsakring Sweden Ordinary 63,085,161 1.84% 1.84%Citibank, N.A. Ireland Nominee 28,214,710 0.82% 0.82%Lyngneset Invest AS Norway Ordinary 23,122,055 0.67% 0.67%State Street Bank and Trust Comp U.S. Nominee 22,192,409 0.65% 0.65%Brown Brothers Harriman & Co. Ireland Nominee 18,411,700 0.54% 0.54%RBC Investor Services Trust Canada Nominee 15,461,931 0.45% 0.45%State Street Bank and Trust Comp U.S. Nominee 15,339,900 0.45% 0.45%Automate Investment II AS Norway Ordinary 14,482,166 0.42% 0.42%Jakob Hatteland Holding AS Norway Ordinary 10,950,000 0.32% 0.32%Polysys AS Norway Ordinary 10,800,000 0.32% 0.32%J.P. Morgan Bank Luxembourg S.A. Luxembourg Nominee 10,688,371 0.31% 0.31%Credit Suisse (Luxembourg) S.A. Luxembourg Nominee 10,209,869 0.30% 0.30%State Street Bank and Trust Comp U.S. Nominee 10,113,779 0.29% 0.29%The Northern Trust Comp, London Br Finland Nominee 9,400,000 0.27% 0.27%Other shareholders 287,882,733 8.40% 8.40%At December 31, 20213,428,540,429 100% 100%The shareholder information is gathered from the VPS share register. In 2022, the account of The Bank of New York Mellon (38.4%) is held by Alpha LP, part of SoftBank Group Corp and the account of Citibank (33.1%) is held by THL Fund VIII. In 2021, Alpha LP held the account of The Bank of New York Mellon (38.5%), and THL Fund VIII held the account of Bank of America (33.1%). On June 7, 2022, the group introduced a new share purchase plan for all permanent employees. Through this program, a total of 1,816,191 shares in AutoStore will be delivered to permanent employees for a purchase price of NOK 16.7. Shares purchased will be subject to a two-year lock-up period. The first block of 1,402,060 shares was delivered to applicants on September 9, 2022 and the second block of 325,696 shares was delivered to applicants on November 8, 2022. The remaining 88,435 will be delivered in 2023. The shares delivered were existing shares held in treasury by AutoStore. Shares held by executive management or the Board at the end of the reporting period are summarized in note 2.5.Accounting policiesDistribution to shareholdersThe group recognizes a liability to make distributions to equity holders when the distribution is authorized and the distribution is no longer at the discretion of the group. As per the corporate laws of Norway, a distribution is authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.The group did not pay dividends to shareholders during the twelve-month period ending December 31, 2022 or the twelve-month period ending December 31, 2021. There are no proposed dividends as of the date of authorization of this annual report. Share price informationShare price December 31, 2022 (NOK) 17.93 Number of shares 3,428,540,429 Market capitalization December 31, 2022 (NOK) 61,456,587,190 USD/NOK exchange rate at December 31, 2022 9.86 Market capitalization December 31, 2022 (USD) 6,234,146,766 5Tax5.1TaxesAccounting policiesCurrent income taxCurrent income tax is measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the group operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity (OCI) and not in the statement of profit or loss. Deferred taxDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences, except: \u2013 When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable futureDeferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except: \u2013 When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilizedThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.USD million31.12.2022 31.12.2021Current income tax expenseTax payable 31.9 9.8 Change in deferred tax/deferred tax assets -15.8 -14.7Currency effects 11.4 -4.4Total income tax expense27.5 -9.4 Current income tax payable consists of:Income tax payable for the year as above 31.9 9.8 \u2013 of which paid in fiscal year -5.8 -9.1 \u2013 not due for earlier years 0.7 - Income tax payable26.8 0.7 USD million31.12.2022 31.12.2021Deferred tax assetsProperty, plant and equipment 0.8 0.4 Other current assets -0.0 0.6 Liabilities -17.5 -39.2 Losses carried forward (including tax credit) - 0.0 Basis for deferred tax assets-16.7 -38.2 Calculated deferred tax assets 3.8 8.9 - Deferred tax assets not recognized -2.2 -0.2 Net deferred tax assets recognized in balance sheet1.6 8.7 Deferred tax liabilitiesProperty, plant and equipment (including leased assets) 2.1 4.0 Intangible assets 458.8 553.7 Other current assets -0.5 -0.3 Liabilities -12.0 33.4 Basis for deferred tax liabilities448.4 590.7 Calculated deferred tax liabilities 101.6 127.1 Deferred tax not recognized - - Net deferred tax liabilities recognized in balance sheet101.6 127.1 Deferred tax liabilities mainly relate to intangible assets recognized through the acquisition of AutoStore in 2019 (note 6.2).The group\u2019s operations are subject to income tax in various foreign jurisdictions. The statutory income tax rates vary from 11% to 25%, which results in a difference between the statutory income tax rate in Norway and the average tax rate applicable to the group. The average tax rate for the group\u2019s deferred tax liabilities is 22.3% for 2022 and 21.5% for 2021. The average tax rate for the group\u2019s tax expense is 21.6% in 2022 and 15.8% in 2021. A reconciliation of the differences between the theoretical tax expense under the rate applicable in Norway and the actual tax expense is as follows: USD million2022 2021Profit/loss before taxes 127.2 -59.5 Tax expense 22% (tax rate, Norway) 28.0 -13.1 1Permanent differences 0.4 4.5 Effects of foreign tax rates -0.8 -0.7 Other adjustments -0.1 -0.2 Recognized income tax expense 27.5 -9.4 1 The corporate tax rate in Norway (22%) is used as a starting point, as the parent company AutoStore Holdings Ltd. is considered a Norwegian entity for taxation purposes.Group Structure66.1Interests in Other EntitiesAccounting policiesBasis of consolidationThe consolidated financial statements comprise the financial statements of AutoStore Holdings Ltd. and its subsidiaries as of December 31, 2022. The subsidiaries are consolidated when control is achieved as defined by IFRS 10 Consolidated Financial Statements. Specifically, the group controls an investee if, and only if, the group has: \u2013 Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee) \u2013 Exposure, or rights, to variable returns from its involvement with the investee \u2013 The ability to use its power over the investee to affect its returnsGenerally, there is a presumption that a majority of voting rights results in control. However, the group considers all relevant facts and circumstances in assessing whether it has power over an investee. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the group gains control until the date the group ceases to control the subsidiary.Profit or loss and each component of other comprehensive income (\u201cOCI\u201d) is attributed to the equity holders of the parent of the group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the group are eliminated in full-on consolidation.The group does not have ownership in joint arrangements as defined by IFRS 11 Joint Arrangements, other associates, interests in uncon-solidated structured entities or interests in unconsolidated subsid-iaries that require disclosure under IFRS 12 Disclosure of Interests in Other Entities. Group structureThe legal structure of the group was changed in October 2021 as a consequence of an internal reorganization. In April 2022, AutoStore announced the opening of a new office in Singapore. The subsidiaries of AutoStore Holdings Ltd. are presented below:Group's voting Consolidated entities Office Currency Shareholding ownership shareAutomate Holdings S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate Intermediate Holdings 1 S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate Intermediate Holdings 2 S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate HoldCo 1 AS Norway NOK 100% 100%Automate BidCo AS Norway NOK 100% 100%PIO AS Norway Norway NOK 100% 100%Terminator BidCo AS Norway NOK 100% 100%AutoStore AS Norway NOK 100% 100%AutoStore Technology AS Norway NOK 100% 100%AutoStore Sp. Z o.o. Poland PLN 100% 100%AutoStore Systems Inc. U.S. USD 100% 100%AutoStore System Limited UK GBP 100% 100%AutoStore SAS France EUR 100% 100%AutoStore System GmbH Germany EUR 100% 100%AutoStore System K.K. Japan JPY 100% 100%AutoStore System Ltd. South Korea KRW 100% 100%AutoStore System AT GmbH Austria EUR 100% 100%AutoStore System S.r.l. Italy EUR 100% 100%AutoStore System S.L. Spain EUR 100% 100%AutoStore System AB Sweden SEK 100% 100%AutoStore System Pte Ltd Singapore SGD 100% 100%1Locai Solutions Inc. U.S. USD 100% 100%1 Owned 100% by AutoStore Systems Inc. All subsidiaries are included in the consolidated statement of financial position.6.2Business CombinationsAccounting policiesA business combination is a transaction or other event in which an acquirer obtains control of one or more businesses. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Determining whether a particular set of assets and activities is a business should be based on whether the integrated set is capable of being conducted and managed as a business by a market participant. Business combinations are accounted for according to IFRS 3 Business Combinations using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at the acquisition date according to IFRS 13 Fair Value Measurement, and the amount of any non-controlling interests in the acquiree. For each business combination, the group elects whether to measure the non-con-trolling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and included in other operating expenses.When the group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument, and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss.Goodwill arises in a business combination when the fair value of consideration transferred exceeds the fair value of identifiable assets acquired less the fair value of identifiable liabilities assumed. Goodwill acquired in a business combination is allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination irrespective of whether other assets or liabilities of the acquiree are assigned to those units, and tested subsequently for impairment. Acquisitions in 2022The group had no business combinations in 2022.Acquisitions in 2021On January 25, 2021, the group signed an agreement to acquire all shares in Locai Solutions Inc. through its subsidiary AutoStore Systems Inc. Locai is a software company located in Delaware, U.S., providing digital commerce platforms to the grocery market based on artificial intelligence and machine learning technology. The acquisition of Locai broadens AutoStore\u2019s offerings to include order fulfillment and warehouse management software for stand-alone AutoStore solutions. The acquisition was accounted for as a business combination under IFRS 3 Business Combinations.The consideration comprised shares issued by the company of USD 7.0 million and USD 5.0 million in cash. As per the PPA, the group has recognized USD 3.6 million in software and technology, USD 9.2 million in goodwill, and USD 0.8 million in deferred taxes. Goodwill includes the value of expected synergies arising from the acquisition and assembled workforce, which are not separately recognized. None of the goodwill recognized is expected to be deductible for income tax purposes. The goodwill is allocated to the CGU \u201cAutoStore system.\u201d References are made to note 3.5.Transaction costs of USD 0.6 million were expensed and are included in other operating expenses. From the date of acquisition, Locai Solutions Inc. contributed USD 0.36 million in revenue and USD 0.08 million to profit before tax in the group in 2021. If the combination had taken place at the beginning of the year, revenue and profit before tax of the group would have been the same. Fair value recognized USD millionon acquisitionNon-current assetsTechnology and software 3.6 Other net assets - Total non-current assets 3.6 Non-current liabilitiesDeferred tax liability 0.8 Total non-current liabilities 0.8 Total identifiable net assets at fair value 2.8 Purchase consideration 12.0 Goodwill arising on acquisition 9.2 Purchase considerationCash consideration 5.0Share issue 7.0Total consideration12.0Analysis of cash flows on acquisitionNet cash acquired (included in the cash flows from investing activities) 0.0Cash paid (included in the cash flows from investing activities) 5.0Net cash flow from acquisition5.06.3Earnings per ShareBasic EPS is calculated by dividing the profit for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.Diluted EPS is calculated by dividing the profit attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that might be issued under the equity-settled share-based option program. The following table reflects the income and share data used in the basic and diluted EPS calculations: USD million2022 2021Continuing operations 99.7 -50.1 Profit/loss attributable to ordinary equity holders of the parent for basic earnings 99.7 -50.1 Shares outstanding (in millions)31.12.2022 31.12.2021Weighted average number of ordinary shares for basic EPS 3,338.0 3,235.3 Weighted average number of ordinary shares adjusted for the effect of dilution 3,428.0 3,235.3 Earnings per share2022 2021Basic earnings per share (USD) 0.030 -0.015 1Diluted earnings per share (USD) 0.029 -0.015 1 The group has equity-settled share-based options (note 7.4), however, as all of the potential ordinary shares from these share-based options were anti-dilutive in 2021 (due to the reported loss in the consolidated group), the diluted earnings per share is the same as basic earnings per share for 2021. The potential ordinary shares are disclosed in note 2.5. Other Disclosures77.1ProvisionsAccounting policiesProvisions are liabilities with uncertain timing or amount and are recognized when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that an out- flow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the balance sheet date, that is, the amount that an entity would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party. Refund liabilityA refund liability is the obligation to refund some or all of the consid-eration received (or receivable) from the customer and is measured at the amount the group ultimately expects it will have to return to the customer. The group classifies provisions in the following categories: \u2013ssurance-type warranties: A provision for expected warranty claims on products sold during the year, based on experience of the level of repairs and returns. \u2013nerous shared cost: A provision for the unfavorable terms related to the service element (shared cost) in a lease agreement. The provision includes the expected future payments above the market rate for these services discounted to present value. \u2013 Social security for share-based payments: Contains a provision for the accrued social security on share options and restrictive share units, which will be paid when the options are exercised/fully vested. \u2013alary-related costs: Contains a provision for accrued holiday pay, unspent vacation days, accrued bonuses, restructuring, and other salary-related accruals. \u2013efund liability: A provision for the discounts to be refunded to customers (distributors) after the reporting date. The provision is recognized as variable consideration by applying the expected value method to the discount based on historical sales and specific forward-looking factors. See note 2.1 for further descriptions.A provision is made and calculated based on management assump-tions at the time the provision is made and is updated as, and when, new information becomes available. All provisions are reviewed at the end of the financial year. Reconciliation of provisions SocialAssurance-Onerous security for Salary- type shared share-based related Refund Other USD millionwarranties cost payments costs liabilityprovisions Total At January 1, 2021 0.4 5.1 3.8 2.4 4.2 5.0 20.8 Additions through acquisitions - - - - - - - Additional provisions made 0.2 - 58.1 6.7 5.1 6.8 76.9 Amounts used -0.4 -0.6 -22.2 -2.4 -4.2 -5.0 -34.7 Currency translation effects -0.0 - -1.0 -0.1 -0.1 -0.2 -1.4 At December 31, 2021 0.2 4.5 38.7 6.6 5.0 6.7 61.6 Additions through acquisitions - - - - - - - Additional provisions made 0.2 - 0.0 5.6 18.2 9.6 33.7 1Remeasurement - - -18.8 - - - -18.8 Amounts used -0.2 -0.6 - -6.6 -5.0 -6.7 -19.0 Currency translation effects - -0.3 -2.0 -0.1 - -0.2 -2.6 At December 31, 2022 0.2 3.6 17.9 5.5 18.2 9.4 54.8 Current provisions - 0.5 17.9 5.0 18.2 7.3 48.9 Non-current provisions 0.2 3.1 - 0.5 - 2.1 6.0 1 The decrease in provisions in the reporting period is mainly related to a reduction in the provision for social security tax on management options attributable to the reduced share price during the period. Changes in the provision of SST were USD 18.8 million (reduction) as a result of a decrease in the underlying share price. The provision for social security for share-based payments will be settled when the options are exercised. References are made to note 7.4. The onerous shared cost provision is expected to be settled at the end of 2028 with approximately similar amounts each year. 7.2Other Commit- ments and ContingenciesAccounting policiesOther commitments and contingenciesContingent liabilities are not recognized in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabilities where the possibility of an outflow of economic resources is considered remote.Contingent assets are not recognized in the annual accounts but are disclosed when an inflow of economic benefits is considered probable.Other commitmentsThe group does not have other significant commitments to be disclosed.Assets pledged as security and guarantee liabilitiesFor assets pledged as security and guarantee liabilities, reference is made to note 4.2. Legal claims - the Ocado litigationInternational Trade Commission (ITC) On December 13, 2021, the Chief Administrative Law Judge, Charles Bullock, of the International Trade Commission (ITC) in Washington, D.C., issued an Initial Determination in connection with the action AutoStore brought in October 2020 against Ocado Group Plc. and certain of its affiliates (Ocado). The Initial Determination found, among other things, that despite Ocado\u2019s infringement of three patents asserted by AutoStore, those patents were invalid. On March 10, 2022, the Commission affirmed the Initial Determina- tion and terminated the investigation. AutoStore has appealed the Commission\u2019s decision. The Commission\u2019s decision does not impact AutoStore\u2019s ability to sell its products anywhere. United States District Court for the District of New Hampshire On January 17, 2021, Ocado Innovations Ltd. and Ocado Solutions Ltd. filed a complaint for patent infringement against AutoStore AS and AutoStore System Inc. in the United States District Court for the District of New Hampshire, claiming that the AutoStore entities infringe four Ocado patents. On October 6, 2021, Ocado filed another complaint in the United States District Court for the District of New Hampshire, alleging that AutoStore infringes a fifth Ocado patent. The two cases have been consolidated into one case. AutoStore maintains that it does not infringe any of the five patents and that all claims asserted against AutoStore are invalid. The trial is currently scheduled for December 2023. US Patent Trial and Appeal Board (PTAB) proceedingsIn June 2022, the U.S. Patent Trial and Appeal Board (\u201cPTAB\u201d) issued Final Written Decisions in Inter Partes Review proceedings initiated by Ocado that challenged the validity of AutoStore\u2019s U.S. Patent Nos. 10,294,025 and 10,474,140. On June 1, the PTAB upheld the validity of one challenged claim of U.S. Patent No. 10,294,025 and found three claims invalid. On June 27, the PTAB upheld the validity of all challenged claims of U.S. Patent No. 10,474,140. There are no other pending PTAB proceedings challenging AutoStore patents. AutoStore filed petitions for Inter Partes Review against three of Ocado\u2019s patents asserted in the District of New Hampshire: United States Patent Nos. 9,796,080 (\u201c\u2019080\u201d), 10,913,602 (\u201c\u2019602\u201d), and 10,961,051 (\u201c\u2019051\u201d). The PTAB declined to institute proceedings for the \u2019080 patent on October 8, 2021, and declined to institute proceedings for the \u2019602 patent on July 20, 2022. The PTAB began proceedings against Ocado\u2019s \u2019051 patent on September 14, 2022, which remain ongoing. German proceedings As of February 2022, all of Ocado\u2019s claims against AutoStore in Germany have been stayed pending a determination by the German Patent Office of AutoStore\u2019s ongoing challenge to the validity of Ocado\u2019s utility model IP rights in its claims. Ocado brought four actions in total against AutoStore in Germany \u2013 two in the Munich District Court and two in the Mannheim District Court \u2013 seeking to assert two Ocado utility models. Three of those actions were stayed by orders of the German courts and Ocado agreed to a stay on the remaining action. AutoStore has consistently maintained that the Ocado utility models in Germany are invalid, and the company\u2019s proceedings in the German Patent Office to invalidate them are ongoing. UK proceedings AutoStore\u2019s patent infringement claim against Ocado in the UK High Court took place in March/April 2022. On March 30, 2023, the Court gave judgment in respect of this trial, dismissing AutoStore\u2019s patent infringement case. The decision does not have any impact on AutoStore\u2019s business or operations. AutoStore is evaluating its options in light of the judgment. European Patent Office proceedings There are ongoing proceedings at various stages in the European Patent Office (\u201cEPO\u201d) concerning the respective validity of certain Ocado and AutoStore patents. On February 27 and 28, 2023, the Technical Boards of Appeal of the EPO affirmed the initial rulings of the EPO in relation to two of AutoStore\u2019s patents at issue in the UK trial heard in March/April 2022.7.3Related-party TransactionsRelated parties are group companies, major shareholders, members of the Board, management in the parent company and the group subsidiaries. Notes 6.1 and 4.8 provide information about the group structure, including details of the subsidiaries and the holding company. Significant agreements and remuneration paid to the Board for the current and prior period appear in note 2.5.All transactions within the group or with other related parties are based on the principle of arm\u2019s length.The group had no material transactions entered into with related parties (outside the group) in 2022. The following table provides the total amount of related-party transactions in 2021:2021Amounts received Payments made to Receivable from Payable to USD millionfrom related partiesrelated partiesrelated partiesrelated parties Total 2021THL Managers VIII, LLC - 7.7 - - 7.7 SoftBank/EQT - - - 5.5 5.5 Total related-party transactions - 7.7 - 5.5 13.2 The above payments relate to management fees paid to majority owners for advisory services to the group. The agreement was terminated in connection with the IPO, and the group recognized a termination fee in 2021 in accordance with the contracts. 7.4Share-based PaymentsAccounting policiesThe group has share-based programs for its key employees, which are accounted for as equity-settled transactions. The share option program for key employees gives the employee the right to purchase shares in the ultimate parent company AutoStore Holdings Ltd. The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the group\u2019s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognized as of the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the group\u2019s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modifi-cation, is recognized for any modification that increases the total fair value of the share-based payment transaction or is otherwise beneficial to the employee. Where an award is canceled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. The share options were anti-dilutive in 2021 due to the reported losses in the period in the consolidated group, thus the potential ordinary shares and the earnings per share computation were not affected for this period (note 6.3).Social security tax on options is recorded as a liability and is recognized over the estimated vesting period (note 7.1). Significant accounting estimates and assumptionsSocial security contributionsThe group recognizes a liability for social security contributions with respect to options to be exercised. The amount of liability is depen- dent on the number of options that are expected to be exercised (that is, vesting conditions are taken into account). The expense is allocated over the period from the grant date to the end of the vesting period. From the end of the vesting period to the date of actual exercise, the liability is adjusted by reference to the current market value of the shares (that is, fair value of the liability at the end of the reporting period). Social security contribution is calcu-lated for the intrinsic value of the options (share price \u2013 strike value) over the vesting period. Valuation assessmentThe group has performed valuation calculations for the option program for both the fair value at grant date, subsequent measure- ment and the ongoing calculation for social security contribution. The following will assess the reasonableness of the model applied, inputs to the model and calculation of the fair value at grant. The fair value of the share options is estimated at the grant date using the Black-Scholes-Merton model and a Monte Carlo Simulation for the options, taking into account the terms and conditions on which the share options were granted. Option programsIn 2019, the group entered into option agreements, awarding non- transferable options to, inter alia certain key employees. In total, 163,338,159 options have been issued to 25 option-holders, each option with a strike price equal to the fair market value of the under-lying shares at the time the options were issued, which at the time was EUR 0.33, equivalent to USD 0.38 per option. The options are divided into service (33%) and performance (67%) options. In connection with SoftBank\u2019s acquisition of 40% of AutoStore 2021, 100% of the performance options were deemed vested immediately prior to the closing of the SoftBank transaction. Further, all service options were deemed vested as if they had vested on a quarterly basis. The unvested service options shall continue to vest on a quarterly basis (i.e. 5% each quarter) from the grant date until the fifth anniversary. In connection with the closing of the SoftBank transaction, the option-holders were provided with the opportunity to exercise approximately 40% of their vested options and, as a result, sell the underlying shares to SoftBank. The service requirement of all options shall be deemed satisfied immediately prior to (but subject to the consummation of) a change of control, given that the option holder is, and has been, continuously employed by and continues to provide services to the group through the date of such consummation, and as otherwise set forth in an option agreement.On July 7, 2022, the group introduced a new long-term incentive plan (\u201cLTIP\u201d) for certain members of the company\u2019s management and other leading employees. Under the LTIP, the executives are awarded a conditional grant of share options, performance share units (\u201cPSUs\u201d) and/or restricted stock units (\u201cRSUs\u201d). The total number of options that will be awarded under the LTIP for 2022 is 791,241, where each option will give the holder the right to acquire one AutoStore share from the company. The options under the LTIP for 2022 shall vest on July 7, 2025, and can be exercised within 12 months with a strike price of NOK 21.88 per share. The total number of PSUs that will be awarded under the LTIP for 2022 is 343,217. Vesting of the PSUs is based on the achievement of financial or other performance goals, and may only be vested by the holder upon approval of the board of directors at their sole discretion. Once vested, each PSU will award the holder with one AutoStore share (settled through treasury shares). The total number of RSUs that will be awarded under the LTIP for 2022 is 739,081. The RSUs are subject to time-based vesting and shall vest on the date falling 36 months following the date of grant. Once vested, each RSU will award the holder with one AutoStore share (settled through treasury shares).RSUExternal members of the Board of Directors of AutoStore Holdings Ltd. are partly compensated through annual grants of RSUs (restricted stock options) as well as cash compensation. Vesting period is two years from each grant date. New share options of 43,548 were granted to external members of the Board of Directors of Autostore Holdings Ltd. in 2022.The expense recognized for employee services received during the year is shown in the following table:USD million2022 2021Expense arising from equity-settled share-based payment transactions -1.0 -2.7 Total expense arising from share-based payment transactions -1.0 -2.7 USD 1.0 million is the IFRS 2 cost of the options. The expense is based on estimated fair value of the options on grant date and recognized over the vesting period.Movements during the year The following table illustrates the number and movements in share options during the year:USD million2022 2021Outstanding at January 1 88,744,288 163,071,600 1Granted during the year 1,917,087 310,077 Forfeited during the year - - Exercised during the year - 74,637,389 Expired during the year - - Outstanding at December 31 90,661,375 88,744,288 Fully vested, not yet exercised at December 31 69,136,494 58,247,282 1 New share options of 1,873,539 were granted during the period in connection with the group\u2019s new long-term incentive plan (\u201cLTIP\u201d) for certain members of the company\u2019s management and other leading employees, which was introduced on July 7, 2022. Under the LTIP, the executives are awarded a conditional grant of share options, performance share units (\u201cPSUs\u201d) and/or restricted stock units (\u201cRSUs\u201d). New share options of 43,548 granted during Q4 2022 were restricted stock units (\u201cRSUs\u201d) to external members of the Board of Directors of Autostore Holdings Ltd., who are partly compensated through option instruments. The weighted average remaining contractual life for the share options outstanding as of December 31, 2022 was 5.6 years, compared to 7.4 years as of December 31, 2021. The weighted average fair value of options granted during 2022 was USD 1.24, compared to USD 0.09 in 2021. The following tables list the inputs to the models used for the option program for the year ended December 31, 2022: 2019-20202019-20202019-2020 incentive programService Performance USD millionoptionsoptionsWeighted avg. fair values at the measurement date \u20ac 0.07 \u20ac 0.03 Dividend (%) - - Expected volatility 25% 25%Risk-free interest rate 1.25% 1.25%Expected life of share options (years) 4.1 5.0 Weighted average share price \u20ac 0.33 \u20ac 0.33 Model used Black-Scholes-MertonThe incentive program is presented in EUR as this program was originally denominated in EUR. RSU board incentive program20222021USD millionRSU RSU Weighted avg. fair values at the measurement date $1.82 $3.40 Dividend (%) - - Expected volatility 79% 25%Risk-free interest rate 3.06% 1.16%Expected life of share options (years) 2.8 2.0 Weighted average share price $1.82 $3.25 Model used Black-Scholes-Merton202220222022 LTI-program PSU and RSUUSD millionoptionsWeighted avg. fair values at the measurement date $0.94 $1.67 Dividend (%) - - Expected volatility 57% 57%Risk-free interest rate 2.69% 2.69%Expected life of share options (years) 4.0 2.8 Weighted average share price $1.67 $1.67 Model used Black-Scholes-MertonThe expected life of the share options is based on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility is based on historical data for comparable companies, as the group has a limited number of share transactions. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome. 7.5Events After the Reporting PeriodAccounting policiesIf the group receives information after the reporting period, but prior to the date of authorization for the issue, about conditions that existed at the end of the reporting period, the group will assess if the information affects the amounts that it recognizes in the group\u2019s consolidated financial statements. The group will adjust the amounts recognized in its financial statements to reflect any adjusting events after the reporting period and update the disclo-sures that relate to those conditions in light of the new information. For non-adjusting events after the reporting period, the group will not change the amounts recognized in its consolidated financial statements but will disclose the nature of the non-adjusting event and an estimate of its financial effect, or a statement that such an estimate cannot be made, if applicable.Non-adjusting eventsOcado litigationPlease refer to note 7.2 for events after the reporting period related to the Ocado litigation case.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__9": {
"value": "AutoStore Holdings Ltd.",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__8": {
"value": "AutoStore Holdings Ltd.",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__7": {
"value": "AutoStore Holdings Ltd.",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__11": {
"value": "Ltd.",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__13": {
"value": "Park Place, 55 Par La Ville Road, Third Floor, Hamilton HM11, Bermuda",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__12": {
"value": "Bermuda",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__10": {
"value": "Norway.",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__14": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__15": {
"value": "The AutoStore Group is an innovative robotic and software technology provider and a pioneer of cube storage automation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__6": {
"value": "1.1Corporate InformationThe financial statements of AutoStore Holdings Ltd. (referred to as \u201cAutoStore Group,\u201d the \u201ccompany\u201d or the \u201cgroup\u201d) for the year ended December 31, 2022 were authorized for issue by the Board of Directors on April 26, 2023. AutoStore Holdings Ltd. has shares traded on the Oslo Stock Exchange, with the ticker symbol AUTO. The company\u2019s registered office is located at Park Place, 55 Par La Ville Road, Third Floor, Hamilton HM11, Bermuda. The group\u2019s corporate headquarters is located at Stokkastrandvegen 85, 5578 Nedre Vats, Norway. The AutoStore Group is an innovative robotic and software technology provider and a pioneer of cube storage automation. The group operates in the rapidly growing warehouse automation industry and in the even faster-growing cube storage segment. AutoStore develops warehouse solutions for the future and helps its customers to enable space-saving and increase performance while reducing labor and energy costs. Reference is made to note 6.1 for a list of subsidiaries, where the largest entity is AutoStore AS, registered in Norway. In April 2022, AutoStore announced the opening of a new office in Singapore. As the parent company is incorporated in Bermuda, the Norwegian FSA has granted AutoStore an exemption for including the separate financial statements of AutoStore Holdings Ltd. as part of the annual report.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__16": {
"value": "1.2Basis of PreparationThe consolidated financial statements of the group comprise con- solidated statement of comprehensive income, consolidated state- ment of financial position, consolidated statement of cash flows, consolidated statement of changes in equity, and related notes. The consolidated financial statements have been prepared in accor-dance with International Financial Reporting Standards (\u201cIFRS\u201d) as adopted by the European Union (\u201cEU\u201d) and additional requirements in the Norwegian Securities Trading Act.The financial statements are prepared based on the going concern assumption. All figures are presented in millions (000,000), except when other- wise indicated. As a result of rounding adjustments, amounts and percentages may not add up to the total. In the statement of compre-hensive income, income/gains are presented as positive amounts and expenses/costs are presented as negative amounts. In the notes, both income and expenses are presented as positive numbers, except for note 2.2, which is presented the same way as in the statement of comprehensive income.AutoStore has selected a presentation in which the description of accounting policies, as well as estimates, assumptions and judgmental considerations are disclosed in the notes to which the policies relate.Presentation and functional currencyThe consolidated financial statements are presented in US dollars (USD), while the functional currency of the parent company and some of the largest subsidiaries in the group is Norwegian kroner (NOK). For each entity, the group determines the functional currency, and items included in the financial statements of each entity are measured using that functional currency. Functional currency is determined based on the primary economic environment in which the entity operates, i.e. normally the one in which the entity primarily generates and expends cash. When the factors or indicators are mixed and the functional currency is not obvious, management has used judgment to determine the functional currency that most faithfully represents the economic effects of the underlying transactions, events and conditions. As part of this approach, management has given priority to the primary indicators before considering the other indicators, which are designed to provide additional supporting evidence to determine an entity\u2019s functional currency. Business impact of the Russian invasion of Ukraine In light of the the ongoing war, AutoStore has halted all sales activ-ities to companies in Russia and stopped all marketing activities and other initiatives directed at the Russian market. In general, AutoStore expects a very limited direct impact on operations from the invasion. Sales activity has been low in the involved countries, and AutoStore does not expect this to change in the upcoming period. AutoStore does not have any employees in these countries. As regards its supply chain, AutoStore does not source any materials directly from suppliers in Ukraine or Russia. However, it expects to see some indirect effects related to sub-suppliers, especially regarding aluminum \u2013 a key input factor in the AutoStore grid. Overall, the aluminum market was con- strained prior to the invasion, largely due to high European energy prices. The invasion has put further pressure on the energy market. In addition, Russia is a global supplier of raw materials used in aluminum production, and the global supply and price of aluminum may thus also be affected. Overall, AutoStore expects these factors to have an impact on the cost of AutoStore grid parts. Climate change The group has considered the potential impact of climate-related matters related to GHG emissions and more stringent regulations and standards in preparing its consolidated financial statements. Climate change and adaptation to climate change represent both risks and opportunities to AutoStore. The group has identified climate-related risks in five key aspects of its operations and value chain. These were identified as physical, regulatory, market, technology and reputational risks, which were linked to AutoStore\u2019s operations, suppliers and partners.The group considers the main regulatory risks to be the introduction of carbon pricing mechanisms, which in turn could lead to an increase in aluminum prices. The main market risks considered were energy scarcity and shifting customer behavior toward a preference for solutions with the best ESG performance. The main technology risk is linked to pressure to reduce the group\u2019s environmental footprint, both through the materials used by suppliers and transitioning to lower emissions technology in the group\u2019s products. The main reputational risk is connected to sector stigmatization linked to high emissions in the supply chain and lack of environmental focus in logistics and e-commerce.Climate risks are assessed to have the highest impact on the group\u2019s financial statements and related estimates in the event of future introduction of environmental regulation, which could potentially increase future production costs. If the group is not able to increase its energy efficiency or adjust prices to address any increased production costs accordingly, the group\u2019s future margins may decrease. Such potential impacts of climate change are continu-ously considered in the cash flow forecasts in assessing value in use amounts. However, as at December 31, 2022, climate risks are not expected to have any significant impact on the group\u2019s assets or liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__17": {
"value": "1.3New and Amended Standards and InterpretationsThe group has not made any voluntary accounting policy changes in 2022. New and amended standards adopted by the group The group applied for the first time certain amendments to standards, which are effective for annual periods beginning on or after January 1, 2022. Below is a list of the amended standards that applied for the first time in 2022. None of them had any material impact on the consolidated financial statements of 2022.\u2013Amendments to IFRS 3 \u2013 Reference to the Conceptual Framework\u2013Amendments to IFRS 9 \u2013 Fees in the \u201910 percent\u2019 test forderecognition of financial liabilities\u2013Amendments to IAS 16 \u2013 Property, Plant and Equipment:Proceeds before Intended Use\u2013Amendments to IAS 37 \u2013 Onerous Contracts - Costs of Fulfillinga Contract\u2013Amendments to IFRS 1 \u2013 Subsidiary as a first-time adopter\u2013Amendments to IAS 41 \u2013 Taxation in fair value measurementsStandards issued but not yet effectiveThe group has not early adopted any accounting standard, interpre-tation or amendment that has been issued but is not yet effective. The group intends to adopt new and amended standards and interpretations, if relevant, when they become effective. With the exception of the amendment disclosed below, the group does not expect any significant effects related to upcoming standards and amendments. Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 In February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgments to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their \u2018significant\u2019 accounting policies with a requirement to disclose their \u2018material\u2019 accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after January 1, 2023 with earlier application permitted. Since the amendments to the Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The group is currently revisiting its accounting policy information disclosures to ensure consistency with the amended requirements.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__18-1": {
"value": "1.4Significant Judgments, Estimates and AssumptionsThe preparation of the consolidated financial statements in accordance with IFRS and applying the chosen accounting policies requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and the underlying assumptions are reviewed on an ongoing basis. The accounting policies applied by management that include a significant degree of estimates and assumptions or judgments that may have the most significant effect on the amounts recognized in the financial statements are summarized:Estimates and assumptions: \u2013 Impairment testing of goodwill and intangible assets (note 3.5) \u2013 Useful lives of intangible assets (note 3.4 and note 6.2) \u2013 Valuation of share-based payments (note 7.4)A detailed description of the significant estimates and assumptions is included in the individual note where applicable.Accounting judgments: \u2013 Capitalization of development costs (note 3.4) \u2013 Determination of functional currency (note 1.2) \u2013 Determination of performance obligations (note 2.1)A detailed description of the significant accounting judgments is included in the individual note where applicable.Significant accounting judgmentsCapitalization of internal development costsDevelopment expenditures on an individual project, which represent new applications/technology, are recognized as an intangible asset when the group can demonstrate:\u2013 The technical feasibility of completing the intangible assetso that the asset will be available for use or sale\u2013 Its intention to complete and its ability and intention to useor sell the asset\u2013 How the asset will generate future economic benefits\u2013 The availability of resources to complete the asset\u2013 The ability to measure reliably the expenditure during devolopmentOther costs are classified as research and are expensed as incurred. These expenses are disclosed in note 2.6. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when the asset is available for its intended use and is amortized over the period of expected future benefit. When an asset is available for its intended use, it is reclassified from internal development to the respective relevant asset class.Initial capitalization of direct costs is based on management\u2019s judgment that technological and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalized, management makes assumptions regarding the expected future cash generation of the pro- ject, discount rates to be applied, and the expected period of benefits. The assessment of when product development is capitalized is highly subjective, as the outcome of these projects may be uncertain. Significant accounting estimatesand assumptionsUseful lives of intangibles The useful lives of intangible assets are assessed as either finite or indefinite and may in some cases involve considerable judgments. Intangible assets with indefinite useful lives are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Intangible assets with finite useful lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in the statement of comprehensive income in the line for amortization of intangible assets. A potential change in the remaining useful life of an intangible asset would have resulted in increased or decreased amortization expense and a corresponding decrease or increase in profit and equity. Trademarks that have existed for a long period of time and have a sound reputation at the time of acquisition are assessed as having an indefinite useful life, and are not amortized. An indefinite useful life means that it is not possible to estimate the foreseeable period over which the asset is expected to generate net cash inflows for the entity. Only trademarks that are purchased through the acqui-sition of companies are capitalized in the consolidated financial statements.See note 3.5 for impairment considerations and annual testing of the group\u2019s intangible assets with indefinite useful lives. No indicators for impairment of intangible assets were identified in the current or prior year.Significant accounting estimates and assumptionsImpairment testing of goodwill, trademarks and internal development projects in progressThe calculation of value in use for the AutoStore system CGU is most sensitive to the following assumptions: \u2013 Compound annual growth rate (CAGR) of sales in the forecast period \u2013 Operating cash flow margin \u2013 Pre-tax discount rate \u2013 Terminal growth rateCAGR of sales in the forecast period The expected growth in operating revenue is based on the expected high growth in the industry and AutoStore\u2019s market share. The growth forecast is based on management\u2019s expectations of future conditions in the market, including the entry of new partici-pants to the market. Operating cash flow marginThe operating cash flow margin is determined based on an analysis of historical levels of revenue, cost of goods sold (COGS) and operating expenses, while forward-looking estimates are derived using scenario-weighted assumptions for these profit and loss/cash flow measures.Pre-tax discount rateThe pre-tax discount rate is set to 11.7% as of December 31, 2022, compared to 10.7% in 2021. The rate is estimated based on the weighted average cost of capital (WACC), and is an estimate of the market risks specific to the CGU.Terminal growth rateThe terminal growth rate, which is set to 2.0% as of December 31, 2022, is the estimated long-term rate of growth in the economy where the business operates, aligned with long-term global inflation targets.Climate-related matters The group constantly monitors the latest government regulations in relation to climate-related matters. As of December 31, 2022, no regulation has been passed that will impact the group. The group will adjust the key assumptions used in value-in-use calculations and sensitivity to changes in assumptions should a change be required.Significant accounting estimates and assumptionsSocial security contributionsThe group recognizes a liability for social security contributions with respect to options to be exercised. The amount of liability is depen- dent on the number of options that are expected to be exercised (that is, vesting conditions are taken into account). The expense is allocated over the period from the grant date to the end of the vesting period. From the end of the vesting period to the date of actual exercise, the liability is adjusted by reference to the current market value of the shares (that is, fair value of the liability at the end of the reporting period). Social security contribution is calcu-lated for the intrinsic value of the options (share price \u2013 strike value) over the vesting period. Valuation assessmentThe group has performed valuation calculations for the option program for both the fair value at grant date, subsequent measure- ment and the ongoing calculation for social security contribution. The following will assess the reasonableness of the model applied, inputs to the model and calculation of the fair value at grant. The fair value of the share options is estimated at the grant date using the Black-Scholes-Merton model and a Monte Carlo Simulation for the options, taking into account the terms and conditions on which the share options were granted.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__21-1": {
"value": "Accounting policiesRevenue from contracts with customers is recognized when control of the goods or services is transferred to the customer in an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. At contract inception, the group identifies and determines the per- formance obligations in the contract. A performance obligation is a promise to transfer to the customer a good or a service (or a bundle of goods or services) that is distinct. Significant judgment The group\u2019s revenue from contracts with distributors relates to the sales of modules of the AutoStore system and related services connected to the AutoStore system. The AutoStore system consists of different modules for warehouse storage and handling. The AutoStore system includes, but is not limited to: Grid, Port, Robot, Bins, AutoStore Controller, and spare parts, referred to as components of the AutoStore system. The group has applied significant judgment in the determi-nation of performance obligations within contracts and has evaluated that each component of the AutoStore system represents distinct performance obligations and should be accounted for separately. Revenue from components of the AutoStore system is recognized at a point in time when the components are delivered to the distributor, except for maintenance and upgrades of the AutoStore control system which is recognized over time. Rendering of services consists of services related to the AutoStore system. Revenue from rendering services is recognized when the services are performed. When a third party is involved in providing goods and services to the customer, the group determines whether the group acts as a principal or agent in these transactions. The group generally acts as a principal. For freight or shipment of components of the AutoStore system (freight element), the group acts as an agent in these transactions as the nature of the group\u2019s promise is to arrange for the shipping service on behalf of the distributor. Revenue for the shipping service is recognized at a point in time when the shipping service is arranged on a net basis. After identifying the performance obligations in the contract, the transaction price is determined. The transaction price is the amount of consideration to which the group expects to be entitled in exchange for transferring promised goods or services to a customer. In determining the transaction price, the group considers the effects of variable consideration, the existence of significant financing components, non-cash consideration, and any consideration payable to the customer. The group allocates the total transaction price in proportion to the stand-alone selling prices of each promised good or service in the contract. The group also considers whether other promises are separate performance obligations, such as service-type warranties, to which a portion of the transaction price needs to be allocated. Warranties that are not providing any additional service to the customer are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Variable consideration If the consideration in a contract includes a variable amount, the group estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal, in the amount of cumulative revenue recognized, will not occur when the associated uncertainty with the variable consideration is subsequently resolved.Disaggregated revenue information The group\u2019s revenue from contracts with customers has been disaggregated and is presented in the tables below:USD million2022 2021Major products and servicesAutoStore system 584.5 325.3 Rendering of services 0.6 0.4 1Total revenue 585.0 325.8 Geographic informationNorway 17.7 16.5 Rest of Nordics 94.8 57.1 Germany 107.1 69.6 Europe, excl. Nordics and Germany 125.2 65.0 U.S. 169.4 92.4 Asia 45.9 22.5 Other 24.8 2.7 1Total revenue 585.0 325.8 The geographic information is based on the customer\u2019s country of domicile. Timing of revenue recognition Goods transferred at a point in time 575.7 318.5 Goods and services transferred over time 9.3 7.2 1Total revenue 585.0 325.8 1 Includes revenue, excl. other operating income.Accounting policiesOther operating income is recognized to the extent that it is probable that the economic benefits will flow to the group and can be reliably measured, regardless of when the payment is received. Income is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties.Accounting policiesInventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and condition are accounted for, as follows: \u2013 Raw materials: Purchase cost on a first-in/first-out basis (FIFO) \u2013 Finished goods and work in progress: Cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacityNet realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.Accounting policiesEmployee benefit expenses comprise all types of remuneration to all employees of the group (i.e. full-time, part-time, permanent, casual, or temporary staff and directors and other management personnel) and are expensed when earned.Ordinary salaries can be both fixed pay and hourly wages, and are earned and paid periodically. Holiday pay is earned on the basis of ordinary pay and is normally paid in the holiday months of the following year. The employer\u2019s national insurance contribution (social security) is calculated and expensed for all payroll-related costs including pensions. Pension contributions are earned on a monthly basis. Other employee expenses consist of other benefits such as insurance, cars and telephones, and remuneration to the Board of Directors.Accounting policiesOther operating expenses are recognized when they occur and represent a broad range of operating expenses incurred by the group in its day-to-day activities. Other operating expenses consist of expenses that are not classified on the lines for cost of materials, employee benefit expenses, depreciation, and amortization.Accounting policiesTrade and other receivablesThe group\u2019s trade receivables consist solely of amounts receivable from revenue contracts with customers. Trade receivables are generally on terms of 30 to 60 days. Other receivables consist of value-added tax (\u201cVAT\u201d) receivables and prepaid expenses which are expected to be realized or consumed in the normal operating cycle within 12 months after the reporting period.Trade and other receivables are financial assets initially recognized at fair value and subsequently at amortized cost using the effective interest rate method. Trade and other receivables are subject to impairment by recognizing an allowance for expected credit losses. Expected credit lossesThe group recognizes an allowance for expected credit losses (ECLs) for its financial assets. ECLs are based on the cash flows that the group expects to receive. For trade receivables, the group applies a simplified approach to calculating ECLs. Therefore, the group does not track changes in credit risk but instead recog- nizes a loss allowance based on lifetime ECLs at each reporting date. The group bases the allowance on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.Accounting policiesTrade and other payables are liabilities, i.e. present contractual obligations arising as a result of past events where settlement is expected to result in an outflow of resources (payment). Trade payables consist of invoices for goods and services where the group has received the significant risks and rewards of ownership as of December 31, 2022. Other payables mainly consist of VAT, withholding payroll, and social security tax. Trade and other payables are measured at fair value upon initial recognition and subsequently at amortized cost. Trade and other payables are expected to be settled within the normal operating cycle within twelve months after the reporting period.Accounting policiesProperty, plant and equipment (\u201cPP&E\u201d) is stated at cost, net of accumulated depreciation and accumulated impairment losses. Repair and maintenance costs are recognized in profit or loss as incurred.Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The residual values, useful lives and methods of depreciation of PP&E are reviewed at each financial year-end and adjusted prospectively, if appropriate.The group assesses, at each reporting date, whether there is an indication that property, plant and equipment may be impaired. Please refer to note 3.5 for further information.Accounting policiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the group assesses whether:\u2013 The agreement creates enforceable rights of payment and obligations\u2013 The identified asset is physically distinct\u2013 The supplier does not have a substantive right to substitute theasset throughout the period of use\u2013 It has the right to obtain substantially all of the economic benefitsfrom the use of the asset\u2013 It has the decision-making rights that are most relevant tochanging how and for what purpose the asset is used throughoutthe contract periodGroup as a lesseeAt the commencement date, the group recognizes a lease liability and a corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2013 Short-term leases (defined as 12 months or less)\u2013 Low-value assetsFor these leases, the group recognizes the lease payments as operating expenses in the consolidated statement of comprehensive income.Measuring the lease liabilityThe lease liability is initially measured at the present value of the lease payments for the right to use the underlying asset during the lease term that is not paid at the commencement date. The lease term represents the non-cancellable period of the lease, together with periods covered by an option to extend the lease when the group is reasonably certain to exercise this option, and periods covered by an option to terminate the lease if the group is reasonably certain not to exercise that option.The lease payments included in the measurement comprise:\u2013 Fixed lease payments, less any lease incentives received\u2013 Variable lease payments that depend on an index or a rate,initially measured using the index or rate as at thecommencement dateThe lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in index or rate.The group presents its lease liabilities as separate line items in the consolidated statement of financial position. Cash flows related to payments for the principal portion of the lease liability are classified within financing activities. Measuring the right-of-use assetThe right-of-use asset is initially measured at cost. The cost of the right-of-use asset includes the corresponding amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date and initial direct costs incurred. The right-of-use asset is subsequently measured at cost less accumu- lated depreciation and impairment losses, applying the same policies for impairment as for property, plant and equipment (note 3.5). The right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset. Depreciation is calculated on a straight-line basis.The group presents its right-of-use assets as separate line items in the consolidated statement of financial position.Accounting policiesRecognized goodwill originates from the acquisition of AutoStore by Thomas H. Lee Partners in 2019 and the acquisition of Locai in 2021. Please refer to note 6.2 for further information. The value of goodwill is primarily related to synergies, assembled workforce and their competency to generate and commercialize new technology, as well as high growth expectations. Goodwill also arises due to the requirement to recognize deferred tax liabilities for the difference between the assigned values and the tax bases of assets acquired and liabilities assumed in a business combination at amounts that do not reflect fair value.Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.The goodwill from the acquisitions of AutoStore in 2019 and Locai in 2021 was allocated to the AutoStore system CGU. The key assump- tions used to determine the recoverable amount of the CGU are disclosed in note 3.5.Accounting policiesIntangible assets acquired separately are measured on initial recog-nition at cost. The cost of intangible assets acquired in a business combination is their fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Government grantsGovernment grants are recognized where there is reasonable assur- ance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset. The group\u2019s government grants relate primarily to compensation for research and development, which are recognized as a reduction in capitalized assets and decreases the future amortization expense.Significant accounting judgmentsCapitalization of internal development costsDevelopment expenditures on an individual project, which represent new applications/technology, are recognized as an intangible asset when the group can demonstrate:\u2013 The technical feasibility of completing the intangible assetso that the asset will be available for use or sale\u2013 Its intention to complete and its ability and intention to useor sell the asset\u2013 How the asset will generate future economic benefits\u2013 The availability of resources to complete the asset\u2013 The ability to measure reliably the expenditure during devolopmentOther costs are classified as research and are expensed as incurred. These expenses are disclosed in note 2.6. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when the asset is available for its intended use and is amortized over the period of expected future benefit. When an asset is available for its intended use, it is reclassified from internal development to the respective relevant asset class.Initial capitalization of direct costs is based on management\u2019s judgment that technological and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalized, management makes assumptions regarding the expected future cash generation of the pro- ject, discount rates to be applied, and the expected period of benefits. The assessment of when product development is capitalized is highly subjective, as the outcome of these projects may be uncertain. Significant accounting estimatesand assumptionsUseful lives of intangibles The useful lives of intangible assets are assessed as either finite or indefinite and may in some cases involve considerable judgments. Intangible assets with indefinite useful lives are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Intangible assets with finite useful lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in the statement of comprehensive income in the line for amortization of intangible assets. A potential change in the remaining useful life of an intangible asset would have resulted in increased or decreased amortization expense and a corresponding decrease or increase in profit and equity. Trademarks that have existed for a long period of time and have a sound reputation at the time of acquisition are assessed as having an indefinite useful life, and are not amortized. An indefinite useful life means that it is not possible to estimate the foreseeable period over which the asset is expected to generate net cash inflows for the entity. Only trademarks that are purchased through the acqui-sition of companies are capitalized in the consolidated financial statements.See note 3.5 for impairment considerations and annual testing of the group\u2019s intangible assets with indefinite useful lives. No indicators for impairment of intangible assets were identified in the current or prior year.Accounting policiesAt the reporting date, the group assesses whether there are external or internal indicators of impairment of property, plant and equipment (\u201cPP&E\u201d), right-of-use assets, intangible assets, and goodwill. Impairment indicators will typically be changes in market develop-ments, competitive situations and technological developments. The group has goodwill and trademarks with indefinite useful lives (see notes 3.3 and 3.4) and internal development projects in progress that are tested for impairment annually, or more often, when the circumstances indicate that the carrying value may be impaired.For the purpose of impairment testing, assets (except goodwill) are grouped together into the smallest group of assets that generates independent cash flows (cash-generating units, CGUs). Goodwill is allocated to the cash-generating units that are expected to benefit from the synergies of the combination. Impairment is determined by assessing the recoverable amount of each CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. An asset\u2019s recov-erable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is con- sidered impaired and is written down to its recoverable amount.The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm\u2019s length terms, for similar assets or observable market prices less incremental costs for disposing of the asset. In determining fair value less costs of dis- posal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Impairment losses recognized in respect to CGUs are first allocated to reduce the carrying amount of any goodwill; any remaining amount is then allocated to reduce the carrying amounts of the other assets in the unit. Impairment losses are reversed if the loss no longer exists for intangible and fixed assets, while impairment losses relating to goodwill cannot be reversed in future periods.Significant accounting estimates and assumptionsImpairment testing of goodwill, trademarks and internal development projects in progressThe calculation of value in use for the AutoStore system CGU is most sensitive to the following assumptions: \u2013 Compound annual growth rate (CAGR) of sales in the forecast period \u2013 Operating cash flow margin \u2013 Pre-tax discount rate \u2013 Terminal growth rateCAGR of sales in the forecast period The expected growth in operating revenue is based on the expected high growth in the industry and AutoStore\u2019s market share. The growth forecast is based on management\u2019s expectations of future conditions in the market, including the entry of new partici-pants to the market. Operating cash flow marginThe operating cash flow margin is determined based on an analysis of historical levels of revenue, cost of goods sold (COGS) and operating expenses, while forward-looking estimates are derived using scenario-weighted assumptions for these profit and loss/cash flow measures.Pre-tax discount rateThe pre-tax discount rate is set to 11.7% as of December 31, 2022, compared to 10.7% in 2021. The rate is estimated based on the weighted average cost of capital (WACC), and is an estimate of the market risks specific to the CGU.Terminal growth rateThe terminal growth rate, which is set to 2.0% as of December 31, 2022, is the estimated long-term rate of growth in the economy where the business operates, aligned with long-term global inflation targets.Climate-related matters The group constantly monitors the latest government regulations in relation to climate-related matters. As of December 31, 2022, no regulation has been passed that will impact the group. The group will adjust the key assumptions used in value-in-use calculations and sensitivity to changes in assumptions should a change be required.Accounting policiesA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entityAccounting policiesCash and cash equivalents in the statement of financial position comprise cash at banks and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.Accounting policiesInterest income and interest expenses on loans and receivables are calculated using the effective interest method. Foreign currency gains or losses are reported as foreign exchange loss or foreign exchange gain in financial income or financial expense, except for currency translation effects from investments in foreign subsidiaries, which are presented within other compre-hensive income (OCI). For other accounting policies related to the underlying financial instruments, reference is made to note 4.1.Interest expense on lease liabilities represents the interest rate implicit in the lease, or the incremental borrowing rate used to measure the lease liabilities recognized in the balance sheet. For further information, please refer to note 3.2.Accounting policiesFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: \u2013 In the principal market for the asset or liability, or \u2013 In the absence of a principal market, in the most advantageous market for the asset or liabilityThe principal or the most advantageous market must be accessible by the group.The fair value of an asset or a liability is measured using the as- sumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant\u2019s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another participant that would use the asset at its highest and best use.The group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.All assets and liabilities for which fair value is measured or dis- closed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2013 Level 1 \u2013 Quoted (unadjusted) market prices in active markets for identical assets or liabilities \u2013evel 2 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable \u2013evel 3 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservableAccounting policiesDistribution to shareholdersThe group recognizes a liability to make distributions to equity holders when the distribution is authorized and the distribution is no longer at the discretion of the group. As per the corporate laws of Norway, a distribution is authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.The group did not pay dividends to shareholders during the twelve-month period ending December 31, 2022 or the twelve-month period ending December 31, 2021. There are no proposed dividends as of the date of authorization of this annual report.5.1TaxesAccounting policiesCurrent income taxCurrent income tax is measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the group operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity (OCI) and not in the statement of profit or loss. Deferred taxDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences, except: \u2013 When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable futureDeferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except: \u2013 When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilizedThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the sameAccounting policiesBasis of consolidationThe consolidated financial statements comprise the financial statements of AutoStore Holdings Ltd. and its subsidiaries as of December 31, 2022. The subsidiaries are consolidated when control is achieved as defined by IFRS 10 Consolidated Financial Statements. Specifically, the group controls an investee if, and only if, the group has: \u2013 Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee) \u2013 Exposure, or rights, to variable returns from its involvement with the investee \u2013 The ability to use its power over the investee to affect its returnsGenerally, there is a presumption that a majority of voting rights results in control. However, the group considers all relevant facts and circumstances in assessing whether it has power over an investee. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the group gains control until the date the group ceases to control the subsidiary.Profit or loss and each component of other comprehensive income (\u201cOCI\u201d) is attributed to the equity holders of the parent of the group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the group are eliminated in full-on consolidation.The group does not have ownership in joint arrangements as defined by IFRS 11 Joint Arrangements, other associates, interests in uncon-solidated structured entities or interests in unconsolidated subsid-iaries that require disclosure under IFRS 12 Disclosure of Interests in Other Entities.Accounting policiesA business combination is a transaction or other event in which an acquirer obtains control of one or more businesses. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Determining whether a particular set of assets and activities is a business should be based on whether the integrated set is capable of being conducted and managed as a business by a market participant. Business combinations are accounted for according to IFRS 3 Business Combinations using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at the acquisition date according to IFRS 13 Fair Value Measurement, and the amount of any non-controlling interests in the acquiree. For each business combination, the group elects whether to measure the non-con-trolling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and included in other operating expenses.When the group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument, and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss.Goodwill arises in a business combination when the fair value of consideration transferred exceeds the fair value of identifiable assets acquired less the fair value of identifiable liabilities assumed. Goodwill acquired in a business combination is allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination irrespective of whether other assets or liabilities of the acquiree are assigned to those units, and tested subsequently for impairmentAccounting policiesProvisions are liabilities with uncertain timing or amount and are recognized when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that an out- flow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the balance sheet date, that is, the amount that an entity would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party. Refund liabilityA refund liability is the obligation to refund some or all of the consid-eration received (or receivable) from the customer and is measured at the amount the group ultimately expects it will have to return to the customer. The group classifies provisions in the following categories: \u2013ssurance-type warranties: A provision for expected warranty claims on products sold during the year, based on experience of the level of repairs and returns. \u2013nerous shared cost: A provision for the unfavorable terms related to the service element (shared cost) in a lease agreement. The provision includes the expected future payments above the market rate for these services discounted to present value. \u2013 Social security for share-based payments: Contains a provision for the accrued social security on share options and restrictive share units, which will be paid when the options are exercised/fully vested. \u2013alary-related costs: Contains a provision for accrued holiday pay, unspent vacation days, accrued bonuses, restructuring, and other salary-related accruals. \u2013efund liability: A provision for the discounts to be refunded to customers (distributors) after the reporting date. The provision is recognized as variable consideration by applying the expected value method to the discount based on historical sales and specific forward-looking factors. See note 2.1 for further descriptions.A provision is made and calculated based on management assump-tions at the time the provision is made and is updated as, and when, new information becomes available. All provisions are reviewed at the end of the financial year.Accounting policiesOther commitments and contingenciesContingent liabilities are not recognized in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabilities where the possibility of an outflow of economic resources is considered remote.Contingent assets are not recognized in the annual accounts but are disclosed when an inflow of economic benefits is considered probable.Other commitmentsThe group does not have other significant commitments to be disclosed.Assets pledged as security and guarantee liabilitiesFor assets pledged as security and guarantee liabilities, reference is made to note 4.2.Accounting policiesThe group has share-based programs for its key employees, which are accounted for as equity-settled transactions. The share option program for key employees gives the employee the right to purchase shares in the ultimate parent company AutoStore Holdings Ltd. The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the group\u2019s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognized as of the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the group\u2019s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modifi-cation, is recognized for any modification that increases the total fair value of the share-based payment transaction or is otherwise beneficial to the employee. Where an award is canceled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. The share options were anti-dilutive in 2021 due to the reported losses in the period in the consolidated group, thus the potential ordinary shares and the earnings per share computation were not affected for this period (note 6.3).Social security tax on options is recorded as a liability and is recognized over the estimated vesting period (note 7.1). Significant accounting estimates and assumptionsSocial security contributionsThe group recognizes a liability for social security contributions with respect to options to be exercised. The amount of liability is depen- dent on the number of options that are expected to be exercised (that is, vesting conditions are taken into account). The expense is allocated over the period from the grant date to the end of the vesting period. From the end of the vesting period to the date of actual exercise, the liability is adjusted by reference to the current market value of the shares (that is, fair value of the liability at the end of the reporting period). Social security contribution is calcu-lated for the intrinsic value of the options (share price \u2013 strike value) over the vesting period. Valuation assessmentThe group has performed valuation calculations for the option program for both the fair value at grant date, subsequent measure- ment and the ongoing calculation for social security contribution. The following will assess the reasonableness of the model applied, inputs to the model and calculation of the fair value at grant. The fair value of the share options is estimated at the grant date using the Black-Scholes-Merton model and a Monte Carlo Simulation for the options, taking into account the terms and conditions on which the share options were granted.Accounting policiesIf the group receives information after the reporting period, but prior to the date of authorization for the issue, about conditions that existed at the end of the reporting period, the group will assess if the information affects the amounts that it recognizes in the group\u2019s consolidated financial statements. The group will adjust the amounts recognized in its financial statements to reflect any adjusting events after the reporting period and update the disclo-sures that relate to those conditions in light of the new information.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__20": {
"value": "Accounting policiesRevenue from contracts with customers is recognized when control of the goods or services is transferred to the customer in an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. At contract inception, the group identifies and determines the per- formance obligations in the contract. A performance obligation is a promise to transfer to the customer a good or a service (or a bundle of goods or services) that is distinct. Significant judgment The group\u2019s revenue from contracts with distributors relates to the sales of modules of the AutoStore system and related services connected to the AutoStore system. The AutoStore system consists of different modules for warehouse storage and handling. The AutoStore system includes, but is not limited to: Grid, Port, Robot, Bins, AutoStore Controller, and spare parts, referred to as components of the AutoStore system. The group has applied significant judgment in the determi-nation of performance obligations within contracts and has evaluated that each component of the AutoStore system represents distinct performance obligations and should be accounted for separately. Revenue from components of the AutoStore system is recognized at a point in time when the components are delivered to the distributor, except for maintenance and upgrades of the AutoStore control system which is recognized over time. Rendering of services consists of services related to the AutoStore system. Revenue from rendering services is recognized when the services are performed. When a third party is involved in providing goods and services to the customer, the group determines whether the group acts as a principal or agent in these transactions. The group generally acts as a principal. For freight or shipment of components of the AutoStore system (freight element), the group acts as an agent in these transactions as the nature of the group\u2019s promise is to arrange for the shipping service on behalf of the distributor. Revenue for the shipping service is recognized at a point in time when the shipping service is arranged on a net basis. After identifying the performance obligations in the contract, the transaction price is determined. The transaction price is the amount of consideration to which the group expects to be entitled in exchange for transferring promised goods or services to a customer. In determining the transaction price, the group considers the effects of variable consideration, the existence of significant financing components, non-cash consideration, and any consideration payable to the customer. The group allocates the total transaction price in proportion to the stand-alone selling prices of each promised good or service in the contract. The group also considers whether other promises are separate performance obligations, such as service-type warranties, to which a portion of the transaction price needs to be allocated. Warranties that are not providing any additional service to the customer are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Variable consideration If the consideration in a contract includes a variable amount, the group estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal, in the amount of cumulative revenue recognized, will not occur when the associated uncertainty with the variable consideration is subsequently resolved.Disaggregated revenue information The group\u2019s revenue from contracts with customers has been disaggregated and is presented in the tables below:USD million2022 2021Major products and servicesAutoStore system 584.5 325.3 Rendering of services 0.6 0.4 1Total revenue 585.0 325.8 Geographic informationNorway 17.7 16.5 Rest of Nordics 94.8 57.1 Germany 107.1 69.6 Europe, excl. Nordics and Germany 125.2 65.0 U.S. 169.4 92.4 Asia 45.9 22.5 Other 24.8 2.7 1Total revenue 585.0 325.8 The geographic information is based on the customer\u2019s country of domicile. Timing of revenue recognition Goods transferred at a point in time 575.7 318.5 Goods and services transferred over time 9.3 7.2 1Total revenue 585.0 325.8 1 Includes revenue, excl. other operating income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__19": {
"value": "2.1Revenue from Contracts with CustomersThe principal business activities of the group are to develop and manufacture an automated warehouse system based on robotics, referred to as \u201cthe AutoStore system.\u201d The AutoStore system has a variety of applications and the modularity creates high flexibility and eliminates most limitations to scalability. The AutoStore system is distributed and sold through distributors (or partners), where the distributors are AutoStore\u2019s customers. The distributors are respon-sible for the installation of the system and any subsequent service towards the end user of the AutoStore system. In 2022, the group launched a pay-per-pick service option to address fast-growing demand for fulfillment. Revenue from the pay-per-pick services option is not material for 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__22": {
"value": "2.2Segment InformationThe chief operating decision maker (CODM) of the AutoStore group, which is defined as the Board of Directors, monitors the operating results of the group as one business unit for the purpose of making decisions about resource allocation and performance assessment, hence only one segment is reported. Segment performance is evalu- ated with the main focus based on total revenue, gross margin and EBITDA. Total revenue is measured consistently with the total of revenue and other operating income in the statement of compre-hensive income, while gross margin and EBITDA are defined below.Geographical marketsFor information on the group\u2019s geographical markets, reference is made to note 2.1 Revenue from Contracts with Customers. Information about major customersThe group had four customers (distributors) who individually contributed more than 10% of the group\u2019s total revenue in 2022, with each customer contributing between 11% and 30%. In 2021, the group had two customers whose contribution exceeded 10%, each contributing between 25% and 30% to the total revenue. AutoStore\u2019s distribution partners in turn sell to end customers.USD million2022 2021Revenue 585.0 325.8 Other operating income -1.5 1.8 Total revenue and other operating income 583.5 327.6 Cost of materials -242.8 -107.8 Gross profit 340.8 219.7 Employee benefit expenses -39.4 -102.3 Other operating expenses -76.6 -96.9 EBITDA 224.7 20.6 Gross profit is the group\u2019s revenue and other operating income less cost of materials.USD million2022 2021Profit/loss for the period99.7 -50.1Income tax expense 27.5 -9.4Finance income -4.2 -19.2Finance costs 44.0 41.2Depreciation 6.6 4.5Amortization 51.1 53.7EBITDA224.7 20.6EBITDA is the group\u2019s profit/loss for the period after adding back the income tax expense, finance costs and depreciation and amortization and deducting the finance income. In the table below, non-current assets are broken down by geographical areas based on the location of the operations.USD million31.12.2022 31.12.2021Balance sheet itemsAssets 2,041.0 2,129.0 Liabilities 693.2 737.8 Equity 1,347.8 1,391.2 Non-current operating assetsLocated in Norway 1,643.0 1,844.0 Located in foreign countries 26.4 7.0 Total non-current operating assets 1,669.5 1,851.0 Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets and intangible assets, including goodwill.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__23": {
"value": "2.3Other Operating IncomeAccounting policiesOther operating income is recognized to the extent that it is probable that the economic benefits will flow to the group and can be reliably measured, regardless of when the payment is received. Income is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties. USD million2022 2021Freight -1.2 1.6 Other operating income -0.3 0.2 Total other operating income-1.5 1.8 Net freight income is presented as other operating income, as it is not considered part of the group\u2019s ordinary sales activities. The group presents freight income and expenses related to sales on a net basis as it considers itself as an agent in the sale and delivery of the freight service. In 2022, net freight income is negative due to larger than anticipated costs resulting from supply chain issues, which exceeded the predetermined freight income.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__26": {
"value": "Accounting policiesInventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and condition are accounted for, as follows: \u2013 Raw materials: Purchase cost on a first-in/first-out basis (FIFO) \u2013 Finished goods and work in progress: Cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacityNet realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__25": {
"value": "2.4InventoriesAccounting policiesInventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and condition are accounted for, as follows: \u2013 Raw materials: Purchase cost on a first-in/first-out basis (FIFO) \u2013 Finished goods and work in progress: Cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacityNet realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. USD million31.12.2022 31.12.2021Raw materials 53.3 28.9 Work in progress 0.0 0.1 Finished goods 30.2 22.4 Total inventories (gross) 83.5 51.4 Provision for obsolete inventories - - Total inventories at the lower of cost and net realizable value 83.5 51.4 The group has recognized USD 240.4 million of inventories as an expense in 2022, compared to USD 101.5 million in 2021. No write- down expenses for inventories are recognized in 2021 or 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__30": {
"value": "Accounting policiesEmployee benefit expenses comprise all types of remuneration to all employees of the group (i.e. full-time, part-time, permanent, casual, or temporary staff and directors and other management personnel) and are expensed when earned.Ordinary salaries can be both fixed pay and hourly wages, and are earned and paid periodically. Holiday pay is earned on the basis of ordinary pay and is normally paid in the holiday months of the following year. The employer\u2019s national insurance contribution (social security) is calculated and expensed for all payroll-related costs including pensions. Pension contributions are earned on a monthly basis. Other employee expenses consist of other benefits such as insurance, cars and telephones, and remuneration to the Board of Directors.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__29": {
"value": "2.5Employee Benefit ExpensesAccounting policiesEmployee benefit expenses comprise all types of remuneration to all employees of the group (i.e. full-time, part-time, permanent, casual, or temporary staff and directors and other management personnel) and are expensed when earned.Ordinary salaries can be both fixed pay and hourly wages, and are earned and paid periodically. Holiday pay is earned on the basis of ordinary pay and is normally paid in the holiday months of the following year. The employer\u2019s national insurance contribution (social security) is calculated and expensed for all payroll-related costs including pensions. Pension contributions are earned on a monthly basis. Other employee expenses consist of other benefits such as insurance, cars and telephones, and remuneration to the Board of Directors. PensionsThe group has a defined contribution pension plan for its Norwegian employees which satisfies the statutory requirements in the Norwegian law on required occupational pension (\u201cLov om obligatorisk tjeneste-pensjon\u201d).The program is a defined contribution plan. Contributions are paid to pension insurance plans and charged to the income statement in the period the contributions relate to. Once the contributions have been paid, the group has no further payment obligations.USD million2022 2021Salaries 44.3 35.0 Social security costs (note 7.1) -11.2 64.3 Pension costs 2.8 1.8 Other employee expenses 3.5 1.2 Total employee benefit expenses 39.4 102.3 Average number of full-time employees (FTEs) 855 486Salaries and social security costsTotal employee benefit expenses for 2022 significantly dropped compared to 2021 due to a reduction in the provision for social security tax on share-based payments following the reduced under-lying share price of the company compared to year-end 2021. References are made to notes 7.2 and 7.4 for more information.Remuneration to the Board of DirectorsRemuneration to the members of the Board is determined by the Annual General Meeting (\u201cAGM\u201d). The remuneration reflects the Board\u2019s responsibilities, expertise, time, and commitment. External members of the Board of Directors of AutoStore Holdings Ltd. are partly compensated through annual allocation of RSUs (restricted stock options), as well as cash compensation. Vesting period is two years from each grant date. The conditions for these grants and the terms and assumptions are disclosed in note 7.4.The Board of Directors of the parent company was established in connection with the company\u2019s listing in October 2021. Remuneration to executive management The Board of AutoStore Holdings Ltd. determines the principles applicable to the company\u2019s policy for compensation to the executive management teams. The Board is directly responsible for determin- ing the CEO\u2019s salary and other benefits. The company\u2019s executive management team includes the Chief Executive Officer (\u201cCEO\u201d), the Chief Financial Officer (\u201cCFO\u201d), the Chief Operating Officer (\u201cCOO\u201d), the Chief People & Information Officer (\u201cCPIO\u201d), the Chief Revenue Officer (\u201cCRO\u201d), the General Counsel, and the Chief Product Officer (\u201cCPO\u201d). Remuneration Committee The Board of Directors has, subject to and with effect from the listing, established a Remuneration Committee composed of four board members. The members of the Remuneration Committee shall be appointed for a term of up to two years. The appointed members of the Remuneration Committee are James C. Carlisle (co-chair), Michael K. Kaczmarek, Andreas Hansson, and Kristin Skogen Lund. The primary purpose of the Remuneration Committee is to assist the Board of Directors in matters relating to remuneration of the executive management of the group, as well as reviewing recruitment policies, career planning and management development plans, and preparing matters relating to other material employment issues in respect of the executive management. The Remuneration Committee shall report and make recommenda-tions to the Board of Directors, but the Board of Directors retains responsibility for implementing such recommendations. Principles for determining salaryThe main principle for determining the salary for each executive management member has been a fixed annual salary with the addi- tion of benefits in kind, such as telephone, insurance, and internet subscription. The fixed salary has been determined on the basis of the following factors: competitive salary level, scope of work and responsibilities, as well as an assessment of the business and individual performance.PensionAll executive management members are enrolled in the defined contribution pension scheme.Long-term incentive programMembers of the executive management team have been granted share options under the company\u2019s long-term incentive program, described in note 7.4.Short-term incentive programMembers of the executive management team have been eligible for an annual bonus of up to 15% of their annual gross salary based on the achievement of certain company- and individual level targets. The group includes these bonus payments as the basis for the calcu- lation of holiday pay.Loans and guaranteesThe company has not granted any loans, guarantees or made any other similar commitments to any of its board members or members of management. No member of the Board of Directors or management is entitled to benefits upon termination of their position. Executive management - effect on share options following resignation Key members of the company\u2019s executive management resigned during or shortly after 2022. Jone Gjerde resigned as COO in June 2022. He was replaced by Israel Losado Salvador as COO. Karl Johan Lier resigned and was replaced as CEO by Mats Hovland Vikse, effective January 1, 2023. Mr. Lier was employed at AutoStore until March 2023.In November 2022, it was announced that current CFO Bent Skisaker will step down. He will remain in the role until a replacement is in place. All the above-mentioned executives will retain their share options according to the agreement. Remuneration to executive management 2022OtherTotalcompen-remuner-USD millionSalary Bonus PensionsationationKarl Johan Lier (CEO) 0.34 - 0.02 0.01 0.37 Bent Mathias Skisaker (CFO) 0.23 0.04 - 0.01 0.28 1Israel Losada Salvador (COO) 0.15 0.05 - 0.01 0.21 2Jone Gjerde (COO) 0.09 0.03 - 0.01 0.13Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.23 3Mats Hovland Vikse (CRO) 0.23 0.04 - 0.01 0.28 Carlos Roman Fernandez (CPO) 0.20 0.03 - 0.01 0.23 Jenny S. Hovda (General Counsel) 0.21 - - 0.01 0.22 Total remuneration 1.62 0.21 0.03 0.09 1.96Remuneration to executive management 2021Karl Johan Lier (CEO) 0.37 - 0.01 0.03 0.41 Bent Mathias Skisaker (CFO) 0.26 0.04 0.01 -0.31Jone Gjerde (COO) 0.20 0.03 0.01 -0.254Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.45Mats Hovland Vikse (CRO) 0.24 0.05 0.01 -0.30Carlos Roman Fernandez (CPO) 0.18 0.03 0.01 -0.22Total remuneration 1.43 0.19 0.07 0.04 1.73 1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023. 4 Appointed Chief People & Information Officer in July 2021. 5 Appointed Chief Revenue Officer in July 2021.Remuneration to the Board of DirectorsUSD millionTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 0.05 0.03 Viveka Ekberg Board member 0.06 0.03 Kristin Skogen Lund Board member 0.05 0.03 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total remuneration0.15 0.08 Shares held by the Board of DirectorsNumber of sharesTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member - - Viveka Ekberg Board member 236,774 96,774 Kristin Skogen Lund Board member 6,451 6,451 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total shares 243,225 103,225 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,928 3,337,993,087 excluding treasury sharesOwnership % by the Board of Directors0.0% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Share options held by the Board of Directors (note 7.4)Number of RSUsTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 29,032 14,516 Viveka Ekberg Board member 29,032 14,516 Kristin Skogen Lund Board member 29,032 14,516 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total share options 87,096 43,548 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by the Board of Directors0.1% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Shares held by executive managementNumber of sharesTitle2022 2021Karl Johan Lier CEO 23,183,898 23,122,055 Bent Mathias Skisaker CFO 1,060,386 998,543 1Israel Losada Salvador COO 26,368 - 2Jone Gjerde COO 612,539 612,539 3Anette Matre CPIO 1,100,002 1,100,002 4,5Mats Hovland Vikse CRO 1,917,569 1,917,569 Carlos Roman Fernandez CPO 2,582,288 2,582,288 Jenny S. Hovda General Counsel 61,843 - Total shares30,544,893 30,332,996 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,9283,337,993,087excluding treasury sharesOwnership % by executive management0.9% 0.9%Share options held by executive management (note 7.4)Number of share optionsTitle2022 2021Karl Johan Lier CEO 22,516,432 22,516,432 Bent Mathias Skisaker CFO 6,418,157 6,418,157 1Israel Losada Salvador COO 162,017 - 2Jone Gjerde COO 6,304,599 6,304,599 3Anette Matre CPIO 2,948,861 2,799,307 4,5Mats Hovland Vikse CRO 6,479,080 6,304,600 Carlos Roman Fernandez CPO 2,863,989 2,701,972 Jenny S. Hovda General Counsel 140,415 - Total share options 47,833,550 47,045,067 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by executive management52.8% 53.0%1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief People & Information Officer in July 2021.4 Appointed Chief Revenue Officer in July 2021. 5 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__28": {
"value": "2.5Employee Benefit ExpensesAccounting policiesEmployee benefit expenses comprise all types of remuneration to all employees of the group (i.e. full-time, part-time, permanent, casual, or temporary staff and directors and other management personnel) and are expensed when earned.Ordinary salaries can be both fixed pay and hourly wages, and are earned and paid periodically. Holiday pay is earned on the basis of ordinary pay and is normally paid in the holiday months of the following year. The employer\u2019s national insurance contribution (social security) is calculated and expensed for all payroll-related costs including pensions. Pension contributions are earned on a monthly basis. Other employee expenses consist of other benefits such as insurance, cars and telephones, and remuneration to the Board of Directors. PensionsThe group has a defined contribution pension plan for its Norwegian employees which satisfies the statutory requirements in the Norwegian law on required occupational pension (\u201cLov om obligatorisk tjeneste-pensjon\u201d).The program is a defined contribution plan. Contributions are paid to pension insurance plans and charged to the income statement in the period the contributions relate to. Once the contributions have been paid, the group has no further payment obligations.USD million2022 2021Salaries 44.3 35.0 Social security costs (note 7.1) -11.2 64.3 Pension costs 2.8 1.8 Other employee expenses 3.5 1.2 Total employee benefit expenses 39.4 102.3 Average number of full-time employees (FTEs) 855 486Salaries and social security costsTotal employee benefit expenses for 2022 significantly dropped compared to 2021 due to a reduction in the provision for social security tax on share-based payments following the reduced under-lying share price of the company compared to year-end 2021. References are made to notes 7.2 and 7.4 for more information.Remuneration to the Board of DirectorsRemuneration to the members of the Board is determined by the Annual General Meeting (\u201cAGM\u201d). The remuneration reflects the Board\u2019s responsibilities, expertise, time, and commitment. External members of the Board of Directors of AutoStore Holdings Ltd. are partly compensated through annual allocation of RSUs (restricted stock options), as well as cash compensation. Vesting period is two years from each grant date. The conditions for these grants and the terms and assumptions are disclosed in note 7.4.The Board of Directors of the parent company was established in connection with the company\u2019s listing in October 2021. Remuneration to executive management The Board of AutoStore Holdings Ltd. determines the principles applicable to the company\u2019s policy for compensation to the executive management teams. The Board is directly responsible for determin- ing the CEO\u2019s salary and other benefits. The company\u2019s executive management team includes the Chief Executive Officer (\u201cCEO\u201d), the Chief Financial Officer (\u201cCFO\u201d), the Chief Operating Officer (\u201cCOO\u201d), the Chief People & Information Officer (\u201cCPIO\u201d), the Chief Revenue Officer (\u201cCRO\u201d), the General Counsel, and the Chief Product Officer (\u201cCPO\u201d). Remuneration Committee The Board of Directors has, subject to and with effect from the listing, established a Remuneration Committee composed of four board members. The members of the Remuneration Committee shall be appointed for a term of up to two years. The appointed members of the Remuneration Committee are James C. Carlisle (co-chair), Michael K. Kaczmarek, Andreas Hansson, and Kristin Skogen Lund. The primary purpose of the Remuneration Committee is to assist the Board of Directors in matters relating to remuneration of the executive management of the group, as well as reviewing recruitment policies, career planning and management development plans, and preparing matters relating to other material employment issues in respect of the executive management. The Remuneration Committee shall report and make recommenda-tions to the Board of Directors, but the Board of Directors retains responsibility for implementing such recommendations. Principles for determining salaryThe main principle for determining the salary for each executive management member has been a fixed annual salary with the addi- tion of benefits in kind, such as telephone, insurance, and internet subscription. The fixed salary has been determined on the basis of the following factors: competitive salary level, scope of work and responsibilities, as well as an assessment of the business and individual performance.PensionAll executive management members are enrolled in the defined contribution pension scheme.Long-term incentive programMembers of the executive management team have been granted share options under the company\u2019s long-term incentive program, described in note 7.4.Short-term incentive programMembers of the executive management team have been eligible for an annual bonus of up to 15% of their annual gross salary based on the achievement of certain company- and individual level targets. The group includes these bonus payments as the basis for the calcu- lation of holiday pay.Loans and guaranteesThe company has not granted any loans, guarantees or made any other similar commitments to any of its board members or members of management. No member of the Board of Directors or management is entitled to benefits upon termination of their position. Executive management - effect on share options following resignation Key members of the company\u2019s executive management resigned during or shortly after 2022. Jone Gjerde resigned as COO in June 2022. He was replaced by Israel Losado Salvador as COO. Karl Johan Lier resigned and was replaced as CEO by Mats Hovland Vikse, effective January 1, 2023. Mr. Lier was employed at AutoStore until March 2023.In November 2022, it was announced that current CFO Bent Skisaker will step down. He will remain in the role until a replacement is in place. All the above-mentioned executives will retain their share options according to the agreement. Remuneration to executive management 2022OtherTotalcompen-remuner-USD millionSalary Bonus PensionsationationKarl Johan Lier (CEO) 0.34 - 0.02 0.01 0.37 Bent Mathias Skisaker (CFO) 0.23 0.04 - 0.01 0.28 1Israel Losada Salvador (COO) 0.15 0.05 - 0.01 0.21 2Jone Gjerde (COO) 0.09 0.03 - 0.01 0.13Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.23 3Mats Hovland Vikse (CRO) 0.23 0.04 - 0.01 0.28 Carlos Roman Fernandez (CPO) 0.20 0.03 - 0.01 0.23 Jenny S. Hovda (General Counsel) 0.21 - - 0.01 0.22 Total remuneration 1.62 0.21 0.03 0.09 1.96Remuneration to executive management 2021Karl Johan Lier (CEO) 0.37 - 0.01 0.03 0.41 Bent Mathias Skisaker (CFO) 0.26 0.04 0.01 -0.31Jone Gjerde (COO) 0.20 0.03 0.01 -0.254Anette Matre (CPIO) 0.18 0.03 0.01 0.01 0.45Mats Hovland Vikse (CRO) 0.24 0.05 0.01 -0.30Carlos Roman Fernandez (CPO) 0.18 0.03 0.01 -0.22Total remuneration 1.43 0.19 0.07 0.04 1.73 1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023. 4 Appointed Chief People & Information Officer in July 2021. 5 Appointed Chief Revenue Officer in July 2021.Remuneration to the Board of DirectorsUSD millionTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 0.05 0.03 Viveka Ekberg Board member 0.06 0.03 Kristin Skogen Lund Board member 0.05 0.03 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total remuneration0.15 0.08 Shares held by the Board of DirectorsNumber of sharesTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member - - Viveka Ekberg Board member 236,774 96,774 Kristin Skogen Lund Board member 6,451 6,451 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total shares 243,225 103,225 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,928 3,337,993,087 excluding treasury sharesOwnership % by the Board of Directors0.0% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Share options held by the Board of Directors (note 7.4)Number of RSUsTitle2022 2021James C. Carlisle Co-chair of the Board - - 1Samuel Merksamer Co-chair of the Board - - Hege Skryseth Board member 29,032 14,516 Viveka Ekberg Board member 29,032 14,516 Kristin Skogen Lund Board member 29,032 14,516 Michael K. Kaczmarek Board member - - 2Nils Magnus Tornling Board member - - Andreas Hansson Board member - - 3Ram Trichur Board member - - Total share options 87,096 43,548 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by the Board of Directors0.1% 0.0%1 Samuel Merksamer stepped down as board member in April 2023. Three new members were appointed in April 2023, Edzard Overbeek, Vikas J. Parekh and Sumer Juneja.2 Nils Magnus Tornling stepped down as board member in September 2022.3 Ram Trichur stepped down as board member in September 2022.Shares held by executive managementNumber of sharesTitle2022 2021Karl Johan Lier CEO 23,183,898 23,122,055 Bent Mathias Skisaker CFO 1,060,386 998,543 1Israel Losada Salvador COO 26,368 - 2Jone Gjerde COO 612,539 612,539 3Anette Matre CPIO 1,100,002 1,100,002 4,5Mats Hovland Vikse CRO 1,917,569 1,917,569 Carlos Roman Fernandez CPO 2,582,288 2,582,288 Jenny S. Hovda General Counsel 61,843 - Total shares30,544,893 30,332,996 Total shares outstanding in AutoStore Holdings Ltd. 3,339,147,9283,337,993,087excluding treasury sharesOwnership % by executive management0.9% 0.9%Share options held by executive management (note 7.4)Number of share optionsTitle2022 2021Karl Johan Lier CEO 22,516,432 22,516,432 Bent Mathias Skisaker CFO 6,418,157 6,418,157 1Israel Losada Salvador COO 162,017 - 2Jone Gjerde COO 6,304,599 6,304,599 3Anette Matre CPIO 2,948,861 2,799,307 4,5Mats Hovland Vikse CRO 6,479,080 6,304,600 Carlos Roman Fernandez CPO 2,863,989 2,701,972 Jenny S. Hovda General Counsel 140,415 - Total share options 47,833,550 47,045,067 Total share options outstanding in AutoStore Holdings Ltd. 90,661,375 88,744,288 % of share options outstanding owned by executive management52.8% 53.0%1 Appointed as Chief Operating Officer in June 2022. 2 Stepped down as Chief Operating Officer in June 2022. 3 Appointed Chief People & Information Officer in July 2021.4 Appointed Chief Revenue Officer in July 2021. 5 Appointed Chief Executive Officer in November 2022, effective from January 1, 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__33": {
"value": "Accounting policiesOther operating expenses are recognized when they occur and represent a broad range of operating expenses incurred by the group in its day-to-day activities. Other operating expenses consist of expenses that are not classified on the lines for cost of materials, employee benefit expenses, depreciation, and amortization.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__32": {
"value": "2.6Other Operating ExpensesAccounting policiesOther operating expenses are recognized when they occur and represent a broad range of operating expenses incurred by the group in its day-to-day activities. Other operating expenses consist of expenses that are not classified on the lines for cost of materials, employee benefit expenses, depreciation, and amortization.USD million2022 2021Meetings, travel, and representation expenses 6.5 1.8Lease expenses 1.7 1.5Business services expenses 6.0 2.5IT costs 7.9 5.4Marketing and distribution expenses 6.8 4.1Consulting expenses 42.7 78.1Other operating expenses 5.1 3.4Total other operating expenses 76.6 96.9The group\u2019s research and development expenditure recognized as an expense during the reporting period was USD 16.3 million in 2022 and USD 14.5 million in 2021. IPO-related costs in 2021 In 2021, the group incurred significant costs related to financial, legal and consulting fees in relation to the listing on the Oslo Stock Exchange. The total cost of the IPO was allocated between the newly issued shares and the existing shares on a rational basis (i.e. by reference to the ratio of the number of new shares to the number of total shares), with only the proportion relating to the issue of new shares being deducted from equity. Total transaction costs deducted directly from equity as part of the IPO process amounted to USD 8.5 million. The remaining IPO-related costs were booked as other operating expenses or employee benefit expenses (when employee-related). USD million2022 2021Audit fee 2.2 0.6 Tax advisory services 0.1 - Attestation services 0.0 - Other advisory services 0.3 1.0 Total auditor fees (excl. VAT) 2.7 1.6",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__36": {
"value": "Accounting policiesTrade and other receivablesThe group\u2019s trade receivables consist solely of amounts receivable from revenue contracts with customers. Trade receivables are generally on terms of 30 to 60 days. Other receivables consist of value-added tax (\u201cVAT\u201d) receivables and prepaid expenses which are expected to be realized or consumed in the normal operating cycle within 12 months after the reporting period.Trade and other receivables are financial assets initially recognized at fair value and subsequently at amortized cost using the effective interest rate method. Trade and other receivables are subject to impairment by recognizing an allowance for expected credit losses. Expected credit lossesThe group recognizes an allowance for expected credit losses (ECLs) for its financial assets. ECLs are based on the cash flows that the group expects to receive. For trade receivables, the group applies a simplified approach to calculating ECLs. Therefore, the group does not track changes in credit risk but instead recog- nizes a loss allowance based on lifetime ECLs at each reporting date. The group bases the allowance on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__35": {
"value": "2.7Trade and Other ReceivablesAccounting policiesTrade and other receivablesThe group\u2019s trade receivables consist solely of amounts receivable from revenue contracts with customers. Trade receivables are generally on terms of 30 to 60 days. Other receivables consist of value-added tax (\u201cVAT\u201d) receivables and prepaid expenses which are expected to be realized or consumed in the normal operating cycle within 12 months after the reporting period.Trade and other receivables are financial assets initially recognized at fair value and subsequently at amortized cost using the effective interest rate method. Trade and other receivables are subject to impairment by recognizing an allowance for expected credit losses. Expected credit lossesThe group recognizes an allowance for expected credit losses (ECLs) for its financial assets. ECLs are based on the cash flows that the group expects to receive. For trade receivables, the group applies a simplified approach to calculating ECLs. Therefore, the group does not track changes in credit risk but instead recog- nizes a loss allowance based on lifetime ECLs at each reporting date. The group bases the allowance on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. USD million31.12.2022 31.12.2021Trade receivables from customers at nominal value 90.0 46.5 Allowance for expected credit losses - - Total trade receivables 90.0 46.5 Prepaid rent and other expenses 0.7 5.5 VAT receivables 17.1 12.4 Other 2.3 3.7 Total other receivables 20.0 21.5 USD million31.12.2022 31.12.2021Allowance for expected credit lossesAt January 1, 2022Debt instruments at amortized cost - - Additions through acquisition Debt instruments at amortized cost - - Provision for expected credit losses Debt instruments at amortized cost - - At December 31, 2022Debt instruments at amortized cost - - The group has not recognized any provision for expected credit losses. The group operates in a B2B market and sells its products to distribution partners. The group\u2019s distribution partners include some of the largest players in the automated warehousing market including, among others: Swisslog, Bastian Solutions, Element Logic, Dematic, Fortna, Okamura, and SoftBank Robotics. The group has not experienced any significant losses in the past. Trade receivablesAs of December 31, 2022, the aging analysis of trade receivables is as follows:Past due but not impairedUSD millionNot due < 30 days 31-60 days > 60 days TotalAging analysis of trade receivablesTrade receivables at January 1, 2021 37.5 4.1 2.1 0.0 43.8 Trade receivables at December 31, 2021 41.7 3.6 0.6 0.6 46.5 Trade receivables at December 31, 2022 81.9 6.1 0.9 1.0 90.0 For details regarding the group\u2019s procedures for managing credit risk, reference is made to note 4.7. Information on when the group considers a financial asset (such as a trade receivable) to be in default and when these assets are written off is described in note 4.1. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__39": {
"value": "Accounting policiesTrade and other payables are liabilities, i.e. present contractual obligations arising as a result of past events where settlement is expected to result in an outflow of resources (payment). Trade payables consist of invoices for goods and services where the group has received the significant risks and rewards of ownership as of December 31, 2022. Other payables mainly consist of VAT, withholding payroll, and social security tax. Trade and other payables are measured at fair value upon initial recognition and subsequently at amortized cost. Trade and other payables are expected to be settled within the normal operating cycle within twelve months after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__38": {
"value": "2.8Trade and Other PayablesAccounting policiesTrade and other payables are liabilities, i.e. present contractual obligations arising as a result of past events where settlement is expected to result in an outflow of resources (payment). Trade payables consist of invoices for goods and services where the group has received the significant risks and rewards of ownership as of December 31, 2022. Other payables mainly consist of VAT, withholding payroll, and social security tax. Trade and other payables are measured at fair value upon initial recognition and subsequently at amortized cost. Trade and other payables are expected to be settled within the normal operating cycle within twelve months after the reporting period. USD million31.12.2022 31.12.2021Trade payables 49.0 47.5 VAT payables - 0.2 Withholding payroll taxes and social security (note 7.1) 2.4 48.1 Total trade and other payables 51.5 95.8 For trade and other payables aging analysis, reference is made to note 4.3.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__42": {
"value": "Accounting policiesProperty, plant and equipment (\u201cPP&E\u201d) is stated at cost, net of accumulated depreciation and accumulated impairment losses. Repair and maintenance costs are recognized in profit or loss as incurred.Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The residual values, useful lives and methods of depreciation of PP&E are reviewed at each financial year-end and adjusted prospectively, if appropriate.The group assesses, at each reporting date, whether there is an indication that property, plant and equipment may be impaired. Please refer to note 3.5 for further information.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__41": {
"value": "3.1Property, Plant and EquipmentAccounting policiesProperty, plant and equipment (\u201cPP&E\u201d) is stated at cost, net of accumulated depreciation and accumulated impairment losses. Repair and maintenance costs are recognized in profit or loss as incurred.Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The residual values, useful lives and methods of depreciation of PP&E are reviewed at each financial year-end and adjusted prospectively, if appropriate.The group assesses, at each reporting date, whether there is an indication that property, plant and equipment may be impaired. Please refer to note 3.5 for further information. Office Fixtures Transport- machinery and USD millionand fittingsation toolsequipment TotalCost January 1, 2021 9.4 0.3 2.9 12.6 Additions 2.4 - 0.4 2.8 Disposals - - - - Currency translation effects - - - - Cost December 31, 2021 11.8 0.3 3.3 15.4 Additions 3.0 0.1 5.9 9.0 Disposals - - - - Currency translation effects -0.0 -0.0 -0.0-0.1Cost December 31, 2022 14.8 0.4 9.2 24.3 Accumulated depreciation January 1, 2021 1.7 0.1 0.4 2.2 Depreciation for the year 1.5 0.0 0.4 2.0 Impairment for the year - - - - Disposals - - - - Currency translation effects - - - - Accumulated depreciation December 31, 2021 3.3 0.1 0.8 4.2 Office Fixtures Transport- machinery and USD millionand fittingsation toolsequipment TotalDepreciation for the year 1.1 0.1 1.7 2.9 Impairment for the year - - - - Disposals - - -0.0 -0.0Currency translation effects -0.0 -0.0 -0.0-0.0Accumulated depreciation December 31, 2022 4.4 0.2 2.5 7.1 Carrying amount January 1, 2021 7.7 0.2 2.5 10.4 Carrying amount December 31, 2021 8.5 0.2 2.5 11.2 Carrying amount December 31, 2022 10.4 0.2 6.7 17.3 Economic life (years) 3-7 5 3-7Depreciation plan Straight-line method",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__45": {
"value": "Accounting policiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the group assesses whether:\u2013 The agreement creates enforceable rights of payment and obligations\u2013 The identified asset is physically distinct\u2013 The supplier does not have a substantive right to substitute theasset throughout the period of use\u2013 It has the right to obtain substantially all of the economic benefitsfrom the use of the asset\u2013 It has the decision-making rights that are most relevant tochanging how and for what purpose the asset is used throughoutthe contract periodGroup as a lesseeAt the commencement date, the group recognizes a lease liability and a corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2013 Short-term leases (defined as 12 months or less)\u2013 Low-value assetsFor these leases, the group recognizes the lease payments as operating expenses in the consolidated statement of comprehensive income.Measuring the lease liabilityThe lease liability is initially measured at the present value of the lease payments for the right to use the underlying asset during the lease term that is not paid at the commencement date. The lease term represents the non-cancellable period of the lease, together with periods covered by an option to extend the lease when the group is reasonably certain to exercise this option, and periods covered by an option to terminate the lease if the group is reasonably certain not to exercise that option.The lease payments included in the measurement comprise:\u2013 Fixed lease payments, less any lease incentives received\u2013 Variable lease payments that depend on an index or a rate,initially measured using the index or rate as at thecommencement dateThe lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in index or rate.The group presents its lease liabilities as separate line items in the consolidated statement of financial position. Cash flows related to payments for the principal portion of the lease liability are classified within financing activities. Measuring the right-of-use assetThe right-of-use asset is initially measured at cost. The cost of the right-of-use asset includes the corresponding amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date and initial direct costs incurred. The right-of-use asset is subsequently measured at cost less accumu- lated depreciation and impairment losses, applying the same policies for impairment as for property, plant and equipment (note 3.5). The right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset. Depreciation is calculated on a straight-line basis.The group presents its right-of-use assets as separate line items in the consolidated statement of financial position.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__44": {
"value": "3.2Right-of-Use Assets and Related LeaseLiabilitiesAccounting policiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the group assesses whether:\u2013 The agreement creates enforceable rights of payment and obligations\u2013 The identified asset is physically distinct\u2013 The supplier does not have a substantive right to substitute theasset throughout the period of use\u2013 It has the right to obtain substantially all of the economic benefitsfrom the use of the asset\u2013 It has the decision-making rights that are most relevant tochanging how and for what purpose the asset is used throughoutthe contract periodGroup as a lesseeAt the commencement date, the group recognizes a lease liability and a corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2013 Short-term leases (defined as 12 months or less)\u2013 Low-value assetsFor these leases, the group recognizes the lease payments as operating expenses in the consolidated statement of comprehensive income.Measuring the lease liabilityThe lease liability is initially measured at the present value of the lease payments for the right to use the underlying asset during the lease term that is not paid at the commencement date. The lease term represents the non-cancellable period of the lease, together with periods covered by an option to extend the lease when the group is reasonably certain to exercise this option, and periods covered by an option to terminate the lease if the group is reasonably certain not to exercise that option.The lease payments included in the measurement comprise:\u2013 Fixed lease payments, less any lease incentives received\u2013 Variable lease payments that depend on an index or a rate,initially measured using the index or rate as at thecommencement dateThe lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in index or rate.The group presents its lease liabilities as separate line items in the consolidated statement of financial position. Cash flows related to payments for the principal portion of the lease liability are classified within financing activities. Measuring the right-of-use assetThe right-of-use asset is initially measured at cost. The cost of the right-of-use asset includes the corresponding amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date and initial direct costs incurred. The right-of-use asset is subsequently measured at cost less accumu- lated depreciation and impairment losses, applying the same policies for impairment as for property, plant and equipment (note 3.5). The right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset. Depreciation is calculated on a straight-line basis.The group presents its right-of-use assets as separate line items in the consolidated statement of financial position.The group\u2019s leased assetsThe group leases several assets, mainly office buildings and production facilities in Norway, Poland, and the U.S. Additionally, the group leases a small number of vehicles (cars and trucks). The group also leases machinery and equipment, however, these are expensed as incurred, as they are either considered short-term or of low value. The right-of-use assets recognized are presented in the table below:Office buildings and production USD millionVehiclesfacilities TotalCarrying amount of right-of-use assets January 1, 2021 0.0 13.2 13.2 Addition of right-of-use assets 0.1 1.4 1.5 Depreciation of right-of-use assets -0.0 -2.5-2.5Currency translation effect - -0.6-0.6Carrying amount of right-of-use assets December 31, 2021 0.1 11.6 11.6 Addition of right-of-use assets 0.3 18.8 19.0Remeasurement of right-of-use assets 0.0 4.9 4.9Depreciation of right-of-use assets -0.1 -3.6-3.7Currency translation effect 0.0 -0.6-0.6Carrying amount of right-of-use assets December 31, 20220.3 31.0 31.3Lease term or remaining useful life 2-3 years 2-14 yearsDepreciation method Straight-line Straight-lineUSD million2022 2021Expenses in the period related to practical expedients and variable paymentsShort-term lease expenses 1.7 0.6 Low-value assets lease expenses - - Variable lease expenses in the period (not included in the lease liabilities) - 0.1 Total lease expenses in the period 1.7 0.7 The lease expenses in the period related to short-term leases and variable lease payments are included in other operating expenses in the consolidated statement of comprehensive income, and the payments are presented in the group\u2019s operating activities in the consolidated statement of cash flows.The group\u2019s lease liabilitiesUSD million31.12.2022 31.12.2021Undiscounted lease liabilities and maturity of cash outflowsLess than one year 7.3 5.2 One to three years 13.8 15.0 More than three years 26.9 11.1 Total undiscounted lease liabilities 48.0 31.3 USD millionNotes2022 2021Summary of lease liabilities in the financial statementsAt the beginning of period 16.5 18.4 Additions through acquisition - - New and remeasured leases recognized during the year 23.8 1.6 Cash payments for the principal portion of the lease liability 4.2 -3.8 -2.8Cash payments for the interest portion of the lease liability 4.2 -1.2 -0.Interest expense on lease liabilities 4.5 1.2 0.9Currency translation effects 4.5 -0.8 -0.7Total lease liabilities 35.7 16.5 Current lease liabilities in the statement of financial position 6.8 3.6 Non-current lease liabilities in the statement of financial position 28.9 12.9 Total cash outflow for the year ended December 31 -5.0 -3.6Inflation adjustmentsIn addition to the lease liabilities presented above, the group is committed to pay variable lease payments for its office buildings and manufacturing facilities mainly related to future inflation adjustments in Norway, Poland, and the U.S, which are not included in the initial calculation of lease liabilities. The lease liability and right-of-use asset will be adjusted when the inflation adjustment has a cash flow effect.Extension and termination optionsThe group has certain lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the group\u2019s business needs. Management applies judgment in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for the group to exercise either the renewal or termination option. After the commencement date, the group reassesses the lease term if there is a significant event or change of circumstances that is within its control and affects its ability to exercise or not to exercise the option to renew or terminate.The group includes the renewal period for leases as a part of the lease term for leases where management is reasonably certain to exercise the option to renew the leases. Furthermore, the periods covered by termination options are included as part of the lease term only when the options are reasonably certain not to be exercised. As most of AutoStore\u2019s contracts represent relatively standardized office facilities, extension options are in most cases not taken into consideration when determining the lease term when the initial contract term is five years and above.Other mattersThe group\u2019s leases do not contain provisions or restrictions that impact the group\u2019s dividend policies or financing possibilities. Further, the group does not have significant residual value guarantees related to its leases.Lease commitments not yet commencedAs at December 31, 2022, the group has three lease contracts that have not yet commenced, of which all are related to office buildings. The future lease payments for these non-cancellable lease contracts are USD 0.5 million within one year, USD 4.8 million within five years and USD 2.3 million after five years. The group does not have any other significant exposure related to its leases which requires further disclosures.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__48": {
"value": "Accounting policiesRecognized goodwill originates from the acquisition of AutoStore by Thomas H. Lee Partners in 2019 and the acquisition of Locai in 2021. Please refer to note 6.2 for further information. The value of goodwill is primarily related to synergies, assembled workforce and their competency to generate and commercialize new technology, as well as high growth expectations. Goodwill also arises due to the requirement to recognize deferred tax liabilities for the difference between the assigned values and the tax bases of assets acquired and liabilities assumed in a business combination at amounts that do not reflect fair value.Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.The goodwill from the acquisitions of AutoStore in 2019 and Locai in 2021 was allocated to the AutoStore system CGU. The key assump- tions used to determine the recoverable amount of the CGU are disclosed in note 3.5.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__47": {
"value": "3.3GoodwillAccounting policiesRecognized goodwill originates from the acquisition of AutoStore by Thomas H. Lee Partners in 2019 and the acquisition of Locai in 2021. Please refer to note 6.2 for further information. The value of goodwill is primarily related to synergies, assembled workforce and their competency to generate and commercialize new technology, as well as high growth expectations. Goodwill also arises due to the requirement to recognize deferred tax liabilities for the difference between the assigned values and the tax bases of assets acquired and liabilities assumed in a business combination at amounts that do not reflect fair value.Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.The goodwill from the acquisitions of AutoStore in 2019 and Locai in 2021 was allocated to the AutoStore system CGU. The key assump- tions used to determine the recoverable amount of the CGU are disclosed in note 3.5.USD million Note Goodwill Cost January 1, 2021 1,256.0 Additions through acquisition 6.2 9.2 Currency translation effects -41.0 Cost December 31, 2021 1,224.2 Additions through acquisition - Currency translation effects -127.8 Cost December 31, 2022 1,096.4 Carrying amount January 1, 2021 1,256.0 Carrying amount December 31, 2021 1,224.2 Carrying amount December 31, 2022 1,096.4",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__51": {
"value": "Accounting policiesIntangible assets acquired separately are measured on initial recog-nition at cost. The cost of intangible assets acquired in a business combination is their fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Government grantsGovernment grants are recognized where there is reasonable assur- ance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset. The group\u2019s government grants relate primarily to compensation for research and development, which are recognized as a reduction in capitalized assets and decreases the future amortization expense.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__50": {
"value": "3.4Other Intangible AssetsNature of the group\u2019s intangible assetsAt the acquisition of AutoStore by Thomas H. Lee Partners in 2019, the group recognized intangible assets for: technology, trademarks, patents, and customer relations. Subsequently, the group has recognized intangible assets comprising internal development projects related to the AutoStore system. In connection with the acquisition of Locai in 2021, the group has recognized intangible assets comprising software and technology.Accounting policiesIntangible assets acquired separately are measured on initial recog-nition at cost. The cost of intangible assets acquired in a business combination is their fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Government grantsGovernment grants are recognized where there is reasonable assur- ance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset. The group\u2019s government grants relate primarily to compensation for research and development, which are recognized as a reduction in capitalized assets and decreases the future amortization expense. Significant accounting judgmentsCapitalization of internal development costsDevelopment expenditures on an individual project, which represent new applications/technology, are recognized as an intangible asset when the group can demonstrate:\u2013 The technical feasibility of completing the intangible assetso that the asset will be available for use or sale\u2013 Its intention to complete and its ability and intention to useor sell the asset\u2013 How the asset will generate future economic benefits\u2013 The availability of resources to complete the asset\u2013 The ability to measure reliably the expenditure during devolopmentOther costs are classified as research and are expensed as incurred. These expenses are disclosed in note 2.6. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when the asset is available for its intended use and is amortized over the period of expected future benefit. When an asset is available for its intended use, it is reclassified from internal development to the respective relevant asset class.Initial capitalization of direct costs is based on management\u2019s judgment that technological and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalized, management makes assumptions regarding the expected future cash generation of the pro- ject, discount rates to be applied, and the expected period of benefits. The assessment of when product development is capitalized is highly subjective, as the outcome of these projects may be uncertain. Significant accounting estimatesand assumptionsUseful lives of intangibles The useful lives of intangible assets are assessed as either finite or indefinite and may in some cases involve considerable judgments. Intangible assets with indefinite useful lives are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Intangible assets with finite useful lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in the statement of comprehensive income in the line for amortization of intangible assets. A potential change in the remaining useful life of an intangible asset would have resulted in increased or decreased amortization expense and a corresponding decrease or increase in profit and equity. Trademarks that have existed for a long period of time and have a sound reputation at the time of acquisition are assessed as having an indefinite useful life, and are not amortized. An indefinite useful life means that it is not possible to estimate the foreseeable period over which the asset is expected to generate net cash inflows for the entity. Only trademarks that are purchased through the acqui-sition of companies are capitalized in the consolidated financial statements.See note 3.5 for impairment considerations and annual testing of the group\u2019s intangible assets with indefinite useful lives. No indicators for impairment of intangible assets were identified in the current or prior year. The group\u2019s classification of intangible assetsSoftware and technology The value of the group\u2019s intangible asset primarily relates to the underlying robot/robot technology and the integrated software that controls and optimizes the performance of every robot and moving part of the system. The underlying base technology was recognized through the acquisition of AutoStore by Thomas H. Lee Partners in 2019. Base technology capitalized through the PPA is amortized over the expected useful life of 25 years. New products and features being developed with shorter expected useful life using this base technology are generally amortized over 5 years. In 2021, USD 3.6 million related to the Locai acquisition was also capitalized. Internal development Internally developed assets are amortized from the time when the assets are available for use, i.e. when it is in the location and con- dition necessary for it to be capable of operating in the manner intended by management and reclassified to either software and technology or patents, based on the type and nature of the internally developed asset. PatentsPatents are intangible assets arising from legal rights. Patents are amortized over 13-18 years, which is the period of the contractual or other legal rights and the period (determined by economic factors) over which the group expects to obtain economic benefits from the asset. Customer relationshipsCustomer relationships were recognized through the acquisition of AutoStore in 2019 and represent the value of the company\u2019s distributor relationships at the time of the acquisition. Customer relationships are amortized on a straight-line basis over 5 years, being the estimated useful life of benefit from the acquisition date of customer relationships. Trademarks Trademarks were recognized through the acquisition of AutoStore in 2019. Trademarks have an indefinite useful life and are tested for impairment annually. SoftwareCustomerInternalTrade-and tech-Patents relation-develop -USD millionmarksnologyrightsshipsment TotalCost January 1, 2021 6.9 470.4 90.2 125.6 19.4 712.5 Additions through acquisitions - 3.6 - - - 3.6 Additions - - - - 28.2 28.2 Reclassification - 23.1 4.4 - -27.5 - Currency translation effects 0.3 -11.1 0.9 -2.4 -6.2 -18.4 Cost December 31, 2021 7.2 486.1 95.4 123.2 13.9 725.8 Additions - - - - 34.1 34.1 Reclassification - 18.7 5.6 - -24.3 - Currency translation effects -1.2 -48.0 -7.3 -6.2 -0.3 -63.0 Cost December 31, 2022 6.0 456.7 93.7 117.0 23.5 697.0 Accumulated amortization January 1, 2021 - 25.4 6.8 34.3 1.6 68.2 Amortization for the year - 22.6 5.7 25.3 - 53.7 Reclassification - 1.3 0.3 - -1.6 - Currency translation effects - -0.1 -0.0 -0.1 - -0.2 Accumulated amortization December 31, 2021 - 49.3 12.8 59.6 0.0 121.6 Amortization for the year - 22.8 5.6 22.7 - 51.1 Currency translation effects - -0.2 -0.1 -0.1 - -0.4 Accumulated amortization December 31, 2022 - 71.9 18.3 82.1 0.0 172.3 Carrying amount January 1, 2021 6.9 445.0 83.4 91.3 17.7 644.3 Carrying amount December 31, 2021 7.2 436.7 82.7 63.7 13.9 604.0 Carrying amount December 31, 2022 6.0 384.8 75.4 34.9 23.5 524.6 Economic life (years) Indefinite5-25 13-18 5.0 N/AAmortization methodN/AStraight-lineNew additions recognized during 2022 relate to USD 34.1 million of internal development costs, compared to USD 28.2 million in 2021. Internal development costs of USD 24.3 million related to finished projects are reclassified to software and technology and patents, USD 27.5 million were reclassified in 2021.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__56": {
"value": "Accounting policiesAt the reporting date, the group assesses whether there are external or internal indicators of impairment of property, plant and equipment (\u201cPP&E\u201d), right-of-use assets, intangible assets, and goodwill. Impairment indicators will typically be changes in market develop-ments, competitive situations and technological developments. The group has goodwill and trademarks with indefinite useful lives (see notes 3.3 and 3.4) and internal development projects in progress that are tested for impairment annually, or more often, when the circumstances indicate that the carrying value may be impaired.For the purpose of impairment testing, assets (except goodwill) are grouped together into the smallest group of assets that generates independent cash flows (cash-generating units, CGUs). Goodwill is allocated to the cash-generating units that are expected to benefit from the synergies of the combination. Impairment is determined by assessing the recoverable amount of each CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. An asset\u2019s recov-erable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is con- sidered impaired and is written down to its recoverable amount.The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm\u2019s length terms, for similar assets or observable market prices less incremental costs for disposing of the asset. In determining fair value less costs of dis- posal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Impairment losses recognized in respect to CGUs are first allocated to reduce the carrying amount of any goodwill; any remaining amount is then allocated to reduce the carrying amounts of the other assets in the unit. Impairment losses are reversed if the loss no longer exists for intangible and fixed assets, while impairment losses relating to goodwill cannot be reversed in future periods.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__55": {
"value": "3.5Impairment ConsiderationsAccounting policiesAt the reporting date, the group assesses whether there are external or internal indicators of impairment of property, plant and equipment (\u201cPP&E\u201d), right-of-use assets, intangible assets, and goodwill. Impairment indicators will typically be changes in market develop-ments, competitive situations and technological developments. The group has goodwill and trademarks with indefinite useful lives (see notes 3.3 and 3.4) and internal development projects in progress that are tested for impairment annually, or more often, when the circumstances indicate that the carrying value may be impaired.For the purpose of impairment testing, assets (except goodwill) are grouped together into the smallest group of assets that generates independent cash flows (cash-generating units, CGUs). Goodwill is allocated to the cash-generating units that are expected to benefit from the synergies of the combination. Impairment is determined by assessing the recoverable amount of each CGU. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. An asset\u2019s recov-erable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is con- sidered impaired and is written down to its recoverable amount.The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm\u2019s length terms, for similar assets or observable market prices less incremental costs for disposing of the asset. In determining fair value less costs of dis- posal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Impairment losses recognized in respect to CGUs are first allocated to reduce the carrying amount of any goodwill; any remaining amount is then allocated to reduce the carrying amounts of the other assets in the unit. Impairment losses are reversed if the loss no longer exists for intangible and fixed assets, while impairment losses relating to goodwill cannot be reversed in future periods.Impairment assessment of PP&E, right-of-use assets and intangible assets with finite useful lifeWhen reviewing for indication of impairment of PP&E, right-of-use assets, and intangible assets with a finite useful life, the group considers the relationship between the estimated market capital-ization of the group and its book value. In addition, the group considers factors such as industry growth, the impact of general economic conditions, changes to the technological and legal environment, and the group\u2019s market share and performance compared to previous forecasts in this assessment, among other factors. No impairments have been recognized to the group\u2019s PP&E, right-of-use assets, and intangible assets with finite useful life on December 31, 2022 or December 31, 2021. Impairment assessment of goodwill and intangible assets with indefinite useful lifeThe group performs the impairment test of goodwill and assets with indefinite useful life on December 31 or when circumstances indicate that the carrying value may be impaired. AutoStore system \u2013 CGU The AutoStore Group is being monitored as one unit by management and operates as a separate business. Cash flows are reported in the same format as the quarterly and annual reports, on a group level.Following the acquisition by Thomas H. Lee Partners in July 2019 and the acquisition of Locai in 2021, goodwill was allocated to one CGU (the \u201cAutoStore CGU\u201d). The group has determined one oper- ating segment, i.e. AutoStore system according to IFRS 8 Operating Segments, which is the same level as the CGU determined for the goodwill impairment test. The AutoStore system is currently the smallest identifiable group of assets that generates cash inflows to the group, and these are largely independent of the cash inflows from other assets. As the group\u2019s trademark is an intangible asset with an indefinite useful life that does not generate largely inde- pendent cash inflows, impairment is tested based on the AutoStore system CGU and any impairment is made proportionate to the asset\u2019s carrying amount. Basis for determining the recoverable amountThe CGU\u2019s recoverable amount has been determined based on its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The cash flows are derived from the detailed budget and forecast calculations for the next five years approved by the Board of Directors. Restructuring activities and significant future investments are excluded from the budgets. A long-term growth rate is calculated and applied to project future cash flows after the forecast period. The table below outlines the carrying amounts of goodwill and intan-gible assets with indefinite useful lives and intangible assets not yet commenced amortization, which are tested for impairment annually.USD million31.12.2022 31.12.2021AutoStore system - CGUGoodwill 1,096.4 1,224.2 Trademarks 6.0 7.2 Internal development projects in progress 23.5 13.9 Total carrying amount 1,125.9 1,245.3 The recoverable amount is sensitive to revenue growth in the forecast period, the discount rate, expected future cash flows, and the terminal growth rate (further described below). The recoverable amount of the cash-generating unit is higher than its carrying amount and no impairment loss is recognized in the year. The carrying amount of the CGU includes goodwill, intangible assets and trademarks together with other operational assets and net working capital. Management believes that no reasonably probable change in the key assumptions would cause the carrying amount of the CGU to materially exceed its recoverable amount. The result of the annual impairment test is further evidenced by a P/B-level of 4.6 on traded shares as of December 31, 2022. Significant accounting estimates and assumptionsImpairment testing of goodwill, trademarks and internal development projects in progressThe calculation of value in use for the AutoStore system CGU is most sensitive to the following assumptions: \u2013 Compound annual growth rate (CAGR) of sales in the forecast period \u2013 Operating cash flow margin \u2013 Pre-tax discount rate \u2013 Terminal growth rateCAGR of sales in the forecast period The expected growth in operating revenue is based on the expected high growth in the industry and AutoStore\u2019s market share. The growth forecast is based on management\u2019s expectations of future conditions in the market, including the entry of new partici-pants to the market. Operating cash flow marginThe operating cash flow margin is determined based on an analysis of historical levels of revenue, cost of goods sold (COGS) and operating expenses, while forward-looking estimates are derived using scenario-weighted assumptions for these profit and loss/cash flow measures.Pre-tax discount rateThe pre-tax discount rate is set to 11.7% as of December 31, 2022, compared to 10.7% in 2021. The rate is estimated based on the weighted average cost of capital (WACC), and is an estimate of the market risks specific to the CGU.Terminal growth rateThe terminal growth rate, which is set to 2.0% as of December 31, 2022, is the estimated long-term rate of growth in the economy where the business operates, aligned with long-term global inflation targets.Climate-related matters The group constantly monitors the latest government regulations in relation to climate-related matters. As of December 31, 2022, no regulation has been passed that will impact the group. The group will adjust the key assumptions used in value-in-use calculations and sensitivity to changes in assumptions should a change be required.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__61": {
"value": "Accounting policiesA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__60": {
"value": "4.1Overview of Financial InstrumentsAccounting policiesA financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.Classification of financial instrumentsThe group\u2019s financial instruments are grouped into the following categories:Financial assetsFinancial assets measured subsequently at amortized cost: Includes mainly trade and other receivables and cash and cash equivalents.All of the group\u2019s financial assets are part of the group\u2019s business model with the sole objective to collect contractual cash flows. Additionally, the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding, thereby passing the \u201cSolely Payments of Principal and Interest\u201d (\u201cSPPI\u201d) test.Financial liabilitiesFinancial liabilities measured subsequently at amortized cost: Represent the group\u2019s interest-bearing liabilities, as well as non- interest-bearing liabilities such as trade payables. The group does not have derivative financial instruments. None of the group\u2019s financial liabilities are designated at fair value through profit or loss, i.e. they are all measured at amortized cost. Initial recognition and subsequent measurementFinancial assets and liabilities at amortized costThe group\u2019s financial assets and liabilities are initially recognized at fair value plus directly attributable transaction expenses. Subsequently, these instruments are measured at amortized cost using the effective interest rate method (\u201cEIR\u201d). Gains and losses are recognized in profit or loss upon impairment when the instru-ments are derecognized, as well as through the EIR amortization process.Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The amortization is included as finance costs in the statement of comprehensive income.The effective interest rate is the rate that exactly discounts esti- mated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.Impairment of financial assetsFinancial assets measured at amortized cost are considered for impairment by recognizing an allowance for expected credit losses (ECLs). The group applies a simplified approach (as applicable for trade receivables) in calculating ECLs, where the group does not track changes in credit risk but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The group bases its ECLs on its historical losses, adjusted for forward-looking factors specific to the debtors and the economic environment (e.g. market trends, default rates in the retail market, etc.). See note 4.7 for further information related to the management of credit risk.The group considers a financial asset to be in default when internal or external information indicates that the group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Derecognition of financial instrumentsA financial asset is derecognized when the rights to receive cash flows from the asset have expired, the group has transferred its rights to receive cash flows from the asset or the group has assumed an obligation to pay the received cash flows in full under a \u201cpass- through\u201d arrangement.A financial liability is derecognized when the obligation under the liability is discharged, canceled, or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statement of comprehensive income.IBOR reformThe group has non-current interest-bearing loans and borrowings with indexed interest rates based on EURIBOR and LIBOR. As a consequence of the IBOR reform, LIBOR is expected to be discon-tinued as a benchmark rate in June 2023 and will be replaced by new benchmark rates, known as alternative Risk Free Rates (RFRs). EURIBOR is already reformed and no further changes are expected as of this date. The group is continuously monitoring the situation and working on replacing the LIBOR with a reformed benchmark rate (SOFR), however as of December 31, 2022, the group does not expect any significant effects on the group\u2019s financial reporting as a result of the IBOR reform.The carrying amounts of the group\u2019s financial assets and liabilities are presented in the tables below:USD millionNotes 31.12.2022 31.12.2021AssetsLoans and receivables Trade receivables 2.7 90.0 46.5 Cash and cash equivalents 4.4 174.8 146.9 Other non-current assets 1.6 3.0 Total financial assets 266.4 196.4 Liabilities Interest-bearing loans and borrowings,including trade payablesNon-current interest-bearing liabilities 4.2 421.8 435.6 Current interest-bearing liabilities 4.2 1.0 0.7 Trade payables 2.8 49.0 47.5 Non-current lease liabilities 3.2 28.9 12.9 Current lease liabilities 3.2 6.8 3.6 Total financial liabilities 507.5 500.3 Significant finance income and finance costs arising from the group\u2019s financial instruments are disclosed separately in note 4.5. There are no changes in classification and measurement for the group\u2019s financial assets and liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__63": {
"value": "4.2Interest-bearing LiabilitiesUSD millionMaturity Interest rate 31.12.2022 31.12.20211Senior Facilities: Facility B (EUR) 30.07.26 EURIBOR +2.5% 260.2 276.3 1Senior Facilities: Facility B (USD) 30.07.26 LIBOR +3.25% 167.0 16 7.0 Capitalized fees - Facility B + SL Facility -5.4 -7.7 Total non-current interest-bearing loans and borrowings 421.8 435.6 USD millionMaturity Interest rate 31.12.2022 31.12.2021 1Senior Facilities: Facility B (EUR)30.07.26 EURIBOR +2.5% 1.0 0.71Senior Facilities: Facility B (USD) 30.07.26 LIBOR +3.25% - -Total current interest-bearing loans and borrowings 1.0 0.7 1 The Facilities have an interest rate floor of 0%, as such the base rate may not be negative.In November 2021, the group established a new revolving credit facility (RCF) that may be drawn at any time up to USD 150 million. The revolving facility bears interest at a rate of LIBOR +2.00%. The group has not drawn any amounts on the RCF as of December 31, 2022. Management has assessed that the fair value of interest- bearing loans and borrowings are not significantly different from their carrying amounts.Secured non-current debt of USD 450.7 million consists of long-term interest-bearing loans and borrowings of USD 421.8 million and USD 28.9 million of the long-term portion of leasing liabilities. The group has pledged shares and bank accounts in the subsidiaries AutoStore AS, AutoStore Technology AS, Automate Bidco AS, and Automate Holdco I AS to the credit institutions as security for the USD 421.8 million long-term interest-bearing loans and borrowings. The lease liabilities of USD 28.9 million are secured with the lessors having security in the underlying leasing objects. The assets pledged by the group as security for its interest-bearing loans and borrowings are presented in the table below:USD million31.12.2022 31.12.2021Secured balance sheet liabilitiesNon-current interest-bearing loans and borrowings 421.8 435.6 Current interest-bearing loans and borrowings 1.0 0.7Total secured balance sheet liabilities422.8 436.3Balance sheet value of assets pledged as security for secured liabilitiesProperty, plant and equipment 17.3 11.2 Right-of-use assets 31.3 11.6 Intangible assets 524.6 604.0 Other non-current assets 1.6 3.0 Inventories 83.5 51.4 Trade receivables 90.0 46.5 Other receivables 19.9 21.2 Cash and cash equivalents 126.5 66.8 Total assets pledged as security for interest-bearing loans and borrowings 894.5 815.8 The group has not given any guarantees to or on behalf of third parties in the current and previous periods. Covenant requirementsThe revolving credit facility contains a \u201cspringing\u201d financial covenant which is set at a senior secured net leverage ratio of 6.75x. The financial covenant under the new revolving credit facility will only be tested on a semi-annual date if, at that semi-annual date, the cash drawings under the new revolving credit facility (subject to certain carve-outs and net cash and cash equivalents of the group) exceeds 40% of the total commitments under the new revolving credit facility.The credit agreements contain certain additional \u201cincurrence\u201d covenants that are tested upon the occurrence of an event rather than on an ongoing basis and which limit, among other things, the company\u2019s use of capital. These covenants can only be violated as a result of a voluntary action, including, but not limited to, (i) incurring debt; (ii) paying a dividend or otherwise distributing value outside the restricted group; (iii) making a non-controlling investment; (iv) selling an asset; (v) completing certain mergers; (vi) granting a guarantee of third-party indebtedness; (viii) making a loan to a third party; (ix) permitting a dividend blocker; (x) entering into a transaction with an affiliate; or (xi) granting a lien. Each of these covenants is subject to customary carve-outs, permissions and certain debt baskets, and for so long as the group remains listed with a Senior Secured Net Leverage that does not exceed 3.50x, the restrictions specified in paragraphs (i) to (x) (inclusive) are suspended. Based on the above, no covenant testing was required as of December 31, 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__64": {
"value": "4.3Aging of Financial LiabilitiesContractual undiscounted cash flows from financial liabilities are presented below:Less than 6 to 12 1 to 3 Over 3 6 monthsmonthsyearsyears TotalUSD millionLease liability (note 3.2) 3.6 3.6 13.8 26.9 48.0 1Non-current interest-bearing loans and borrowings (note 4.2) 13.0 13.0 52.2 440.2518.5Current interest-bearing loans and borrowings (note 4.2) 1.0 - - - 1.0 Trade payables (note 2.8) 49.0 - - - 49.0 Total December 31, 202266.7 16.7 66.0 467.1 616.5Lease liability (note 3.2) 2.6 2.6 15.0 11.1 31.3 1Non-current interest-bearing loans and borrowings (note 4.2) 6.2 6.2 24.7 461.8 498.8 Current interest-bearing loans and borrowings (note 4.2) 0.7 - - - 0.7 Trade payables (note 2.8) 47.5 - - - 47.5 Total December 31, 2021 57.0 8.8 39.6 472.9 578.3 1 Cash flows disclosed for non-current interest-bearing loans and borrowings also include estimated interest payments based on current level of interest.Reconciliation of changes in liabilities incurred as a result of financing activities in 2022:Non-cash changesCash Foreign 31.12. flow exchange New leases Other 31.12. USD million2021effectmovementrecognizedchanges2022Lease liabilities (note 3.2) 16.5 -5.0 -0.8 23.8 1.2 35.7 Non-current interest-bearing loans and borrowings 435.6 -14.4 -16.1 - 16.8 421.8 - The facilities (note 4.2)Current interest-bearing loans and borrowings 0.7 -0.7 - - 1.0 1.0 (note 4.2)Total liabilities from financing 452.8 -20.1 -16.9 23.8 18.9 458.5 Reconciliation of changes in liabilities incurred as a result of financing activities in 2021:Non-cash changesCash Foreign 1.1. flow exchange New leases Other 31.12. USD million2021effectmovementrecognizedchanges2021Lease liabilities (note 3.2) 18.4 -3.6 -0.7 1.6 0.9 16.5 Non-current interest-bearing loans and borrowings 692.2 -266.8 -22.6 - 32.7 435.6 - The facilities (note 4.2)Current interest-bearing loans and borrowings 2.8 -2.8 - - 0.7 0.7 (note 4.2)Total liabilities from financing 713.4 -273.2 -23.3 1.6 34.3 452.8 Cash flow effects related to non-current interest-bearing loans and borrowings disclosed above include both principal payments (or proceeds from issuance of new debt) and interest payments. The \u201cOther\u201d column includes the effect of reclassification of non-current portion of interest-bearing loans and borrowings, and the effect of accrued interest during the year and amortization on interest-bearing loans and borrowings. The group classifies interest paid as cash flows from financing activities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__66": {
"value": "Accounting policiesCash and cash equivalents in the statement of financial position comprise cash at banks and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__65": {
"value": "4.4Cash and Cash EquivalentsAccounting policiesCash and cash equivalents in the statement of financial position comprise cash at banks and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.USD million31.12.2022 31.12.2021Bank deposits, unrestricted 172.1 109.7 Bank deposits, restricted 2.8 37.2 Total cash and cash equivalents 174.8 146.9 \u201cBank deposits, restricted\u201d mainly consists of employee tax and deposits.The company has multiple banking relationships for its deposits.For more information on the group\u2019s credit facilities, please refer to note 4.2.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__69": {
"value": "Accounting policiesInterest income and interest expenses on loans and receivables are calculated using the effective interest method. Foreign currency gains or losses are reported as foreign exchange loss or foreign exchange gain in financial income or financial expense, except for currency translation effects from investments in foreign subsidiaries, which are presented within other compre-hensive income (OCI). For other accounting policies related to the underlying financial instruments, reference is made to note 4.1.Interest expense on lease liabilities represents the interest rate implicit in the lease, or the incremental borrowing rate used to measure the lease liabilities recognized in the balance sheet. For further information, please refer to note 3.2.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__68": {
"value": "4.5Finance Income and Finance CostsAccounting policiesInterest income and interest expenses on loans and receivables are calculated using the effective interest method. Foreign currency gains or losses are reported as foreign exchange loss or foreign exchange gain in financial income or financial expense, except for currency translation effects from investments in foreign subsidiaries, which are presented within other compre-hensive income (OCI). For other accounting policies related to the underlying financial instruments, reference is made to note 4.1.Interest expense on lease liabilities represents the interest rate implicit in the lease, or the incremental borrowing rate used to measure the lease liabilities recognized in the balance sheet. For further information, please refer to note 3.2.USD million2022 2021Finance incomeNet foreign exchange gain - 19.2Interest income Financial assets 4.2 0.0Total finance income 4.2 19.2 Finance costsNet foreign exchange loss 21.2 0Interest expenses (note 4.2) Interest-bearing loans and borrowings 19.7 30.6 Amortization of transaction cost (note 4.2) Interest-bearing loans and borrowings 2.3 6.5 Interest on lease liability (note 3.2) Other financial liabilities 1.2 0.9 Other financial expenses Interest-bearing loans and borrowings -0.4 3.2 Total finance costs 44.0 41.2 Net finance cost in 2022 was USD 39.8 million compared to USD 22.0 million in 2021. The main difference relates to changes in foreign exchange gain/loss on the group\u2019s deposits and long-term loans in currencies other than the functional currency. The decrease in interest expenses is a result of partial repayment of long-term loans in November 2021.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__72": {
"value": "Accounting policiesFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: \u2013 In the principal market for the asset or liability, or \u2013 In the absence of a principal market, in the most advantageous market for the asset or liabilityThe principal or the most advantageous market must be accessible by the group.The fair value of an asset or a liability is measured using the as- sumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant\u2019s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another participant that would use the asset at its highest and best use.The group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.All assets and liabilities for which fair value is measured or dis- closed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2013 Level 1 \u2013 Quoted (unadjusted) market prices in active markets for identical assets or liabilities \u2013evel 2 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable \u2013evel 3 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__71": {
"value": "4.6Fair Value MeasurementAccounting policiesFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: \u2013 In the principal market for the asset or liability, or \u2013 In the absence of a principal market, in the most advantageous market for the asset or liabilityThe principal or the most advantageous market must be accessible by the group.The fair value of an asset or a liability is measured using the as- sumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant\u2019s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another participant that would use the asset at its highest and best use.The group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.All assets and liabilities for which fair value is measured or dis- closed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2013 Level 1 \u2013 Quoted (unadjusted) market prices in active markets for identical assets or liabilities \u2013evel 2 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable \u2013evel 3 \u2013 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservableFair value disclosuresManagement has assessed that the fair values of cash and short- term deposits, trade and other receivables, trade payables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments and the current risk-free interest rates. Interest-bearing loans and borrowings The fair values of the group\u2019s interest-bearing loans and borrowings are determined by using the Discounted Cash Flow (DCF) method using a discount rate that reflects the issuer\u2019s borrowing rate at the end of the reporting period. The fair values of the group\u2019s inter-est-bearing loans and borrowings are in most cases similar to the carrying amount, as the interest rates are floating and as the own non-performance risk as at December 31, 2022 was assessed to be insignificant.Set out below is a comparison, by class, of the carrying amounts and fair values of the group\u2019s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values:Carrying USD millionDateamount Fair value Level 1 Level 2 Level 3Liabilities disclosed at fair valueInterest-bearing loans and borrowings December 31, 2022 422.8 422.8 X(note 4.2)Interest-bearing loans and borrowings December 31, 2021 436.3 436.3 X(note 4.2) The type and nature of the group\u2019s funding did not change in 2022 compared to 2021, therefore a transfer between levels did not occur.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__75": {
"value": "market risk, financial risk, credit risk and liquidity risk. The group seeks to minimize potential adverse effects of such risks through sound business practice, risk manage-ment and hedging. At the current time, the liquidity risk of the group is assessed to be low based on the operating cash flows, scheduled repayments of debt and the availability of credit facilities. Risk management is carried out by group management under policies approved by the Board. The Board reviews and agrees on policies for managing each of these risks, which are summa- rized below.Market risksMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk includes interest rate risk and foreign currency risk.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__77": {
"value": "liquidity risk. The group seeks to minimize potential adverse effects of such risks through sound business practice, risk manage-ment and hedging. At the current time, the liquidity risk of the group is assessed to be low based on the operating cash flows, scheduled repayments of debt and the availability of credit facilities. Risk management is carried out by group management under policies approved by the Board. The Board reviews and agrees on policies for managing each of these risks, which are summa- rized below.Market risksMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk includes interest rate risk and foreign currency risk.Interest rate riskInterest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The group\u2019s exposure to the risk of changes in market interest rates relates primarily to the group\u2019s Senior Facilities, which have base interest rates in LIBOR and EURIBOR. The group does not currently hedge the base interest rates. The current interest rate environment is low and the group may enter into contracts to offset some of the risks depending on the future expected interest rates. For information on the IBOR reform and the group\u2019s assessment, see note 4.1.Interest rate sensitivityThe sensitivity to a possible change in interest rates, with all other variables held constant, on the group\u2019s profit before tax, is illustrated below. In calculating the sensitivity analyses, the group assumes that the sensitivity of the relevant statement of profit or loss item is the effect of the assumed changes in respective financial risks.Increase/decrease Increase/decrease Increase/decrease1USD million in basis points in profit before tax in OCI December 31, 2022 +/- 100 4.3 - December 31, 2021 +/- 100 4.4 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Foreign currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The group\u2019s international business activities, supply chain, and global distribution network expose it to foreign exchange transaction risk and translation risk. The group\u2019s risk of changes in foreign exchange rates relate primarily to the group\u2019s operating activities (revenues and expenses denominated in a foreign currency), external financing through interest-bearing liabilities and the group\u2019s net investment in foreign subsidiaries. The group\u2019s presentation currency is USD. Accordingly, changes in the value of the currencies in which it generates revenues and incurs costs in relation to USD affect the group\u2019s overall revenue, profit or loss and financial position. Transactional risk arises when the group\u2019s entities enter into transactions in currencies different than the entities\u2019 functional currencies. A significant part of revenues is denominated in USD and EUR, with a smaller portion in NOK. Furthermore, a significant amount of the materials used in the group\u2019s production are sourced from suppliers located in countries that have adopted Zloty (\u201cPLN\u201d) and EUR. The group\u2019s suppliers are generally paid in EUR in addition to PLN, as such the group has significant costs in EUR and PLN. A large portion of the group\u2019s operations are conducted in Norway, where transactions to a large extent are made in NOK and, as such, the group has significant costs in NOK. In case of unfavorable exchange rate fluctuations, such as a strong currency in the country of a supplier, and the group due to compet-itive pressure being unable to raise its prices, the group may face reduced gross margins leading to a decline in net results and a competitive disadvantage. Products and services provided and invoiced to the group in markets, with weaker local currencies may also lead to lower profit margins which could have an adverse effect on the group\u2019s business, results of operations, financial condition and cash flow.The group tries to limit its foreign currency exposure by having similar currencies for its revenues and operating expenses. The group\u2019s interest-bearing liabilities are also denominated in the same foreign currencies, EUR and USD, thus the group has a natural hedge that reduces the impact of currency fluctuations in these currencies. The group does not hedge currency exposure with the use of financial instruments at the current time but monitors the net exposure over time. Foreign currency sensitivityThe following table illustrates the sensitivity of the group\u2019s interest- bearing liabilities denominated in USD and EUR to a hypothetical increase or decrease in the foreign exchange rates in the period, holding all other variables constant: Change in Increase/decrease Increase/decrease1 USD million DateFX rate in profit before tax in OCIIncrease/decrease in NOK/USD December 31, 2022 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2022 +/- 10% 26.0 - Increase/decrease in NOK/USD December 31, 2021 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2021 +/- 10% 27.6 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Credit riskCredit risk is the risk that a counterparty will not meet its obliga-tions under a financial instrument or customer contract, leading to a financial loss. The group is mainly exposed to credit risk from its operating activities.In order to offset the risk on trade receivables, the company has entered into a credit insurance agreement. Additionally, the group manages its credit risks by trading only with recognized, credit-worthy third parties (mainly distributors/partners). It is the group\u2019s policy that all customers wishing to trade on credit terms are subject to credit verification procedures, which include an assess- ment of credit rating, short-term liquidity and financial position. The group obtains sufficient collateral (where appropriate) from customers as a means of mitigating the risk of financial loss from defaults. In addition, receivable balances are monitored on an ongoing basis, with the result that the group\u2019s exposure to losses has been insignificant and the overall credit risk is assessed as low (i.e. the group has not experienced any losses in the past).An impairment analysis is performed at each reporting date to measure expected credit losses. The provision rates are based on days past due, product type, customer type and rating and cover- age by letters of credit or other forms of credit insurance. For an overview of the aging of trade receivables and the expected credit losses recognized for trade receivables, please refer to note 2.7. Liquidity riskLiquidity risk is the risk that the group will encounter difficultyin meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The group monitors its risk of a shortage of funds by monitoring its working capital, overdue trade receivables and establishing credit facilities. The group\u2019s business requires access to significant credit and guarantee lines and other financing instruments. Its business could be negatively affected if the group is unable to meet its capital require- ments in the future, for example as a result of weak financial market environments, a significant deterioration of its credit standing, a breach of or default under a credit facility agreement or if access to capital becomes cost prohibitive. The group\u2019s business activities could also be negatively affected if its customers or suppliers do not have access to financing on economically viable terms. The group\u2019s objective is to maintain a balance between continuity of funding and flexibility through the use of credit facilities and the Senior Facilities agreement to finance working capital and investments. The group has flexible debt financing through a Revolving Credit Facility as part of the Senior Facilities and may further draw funds or establish additional incremental revolving facilities if deemed necessary (note 4.2). Additionally, the group has a significant positive cash flow from operating activities which limits its liquidity risk. An overview of the maturity profile of the group\u2019s financial liabilities with corresponding cash flow effects is presented in note 4.3.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__74": {
"value": "4.7Financial RiskOverviewThe group is exposed to a range of financial risks affecting its financial performance, including market risk, financial risk, credit risk and liquidity risk. The group seeks to minimize potential adverse effects of such risks through sound business practice, risk manage-ment and hedging. At the current time, the liquidity risk of the group is assessed to be low based on the operating cash flows, scheduled repayments of debt and the availability of credit facilities. Risk management is carried out by group management under policies approved by the Board. The Board reviews and agrees on policies for managing each of these risks, which are summa- rized below.Market risksMarket risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk includes interest rate risk and foreign currency risk.Interest rate riskInterest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The group\u2019s exposure to the risk of changes in market interest rates relates primarily to the group\u2019s Senior Facilities, which have base interest rates in LIBOR and EURIBOR. The group does not currently hedge the base interest rates. The current interest rate environment is low and the group may enter into contracts to offset some of the risks depending on the future expected interest rates. For information on the IBOR reform and the group\u2019s assessment, see note 4.1.Interest rate sensitivityThe sensitivity to a possible change in interest rates, with all other variables held constant, on the group\u2019s profit before tax, is illustrated below. In calculating the sensitivity analyses, the group assumes that the sensitivity of the relevant statement of profit or loss item is the effect of the assumed changes in respective financial risks.Increase/decrease Increase/decrease Increase/decrease1USD million in basis points in profit before tax in OCI December 31, 2022 +/- 100 4.3 - December 31, 2021 +/- 100 4.4 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Foreign currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The group\u2019s international business activities, supply chain, and global distribution network expose it to foreign exchange transaction risk and translation risk. The group\u2019s risk of changes in foreign exchange rates relate primarily to the group\u2019s operating activities (revenues and expenses denominated in a foreign currency), external financing through interest-bearing liabilities and the group\u2019s net investment in foreign subsidiaries. The group\u2019s presentation currency is USD. Accordingly, changes in the value of the currencies in which it generates revenues and incurs costs in relation to USD affect the group\u2019s overall revenue, profit or loss and financial position. Transactional risk arises when the group\u2019s entities enter into transactions in currencies different than the entities\u2019 functional currencies. A significant part of revenues is denominated in USD and EUR, with a smaller portion in NOK. Furthermore, a significant amount of the materials used in the group\u2019s production are sourced from suppliers located in countries that have adopted Zloty (\u201cPLN\u201d) and EUR. The group\u2019s suppliers are generally paid in EUR in addition to PLN, as such the group has significant costs in EUR and PLN. A large portion of the group\u2019s operations are conducted in Norway, where transactions to a large extent are made in NOK and, as such, the group has significant costs in NOK. In case of unfavorable exchange rate fluctuations, such as a strong currency in the country of a supplier, and the group due to compet-itive pressure being unable to raise its prices, the group may face reduced gross margins leading to a decline in net results and a competitive disadvantage. Products and services provided and invoiced to the group in markets, with weaker local currencies may also lead to lower profit margins which could have an adverse effect on the group\u2019s business, results of operations, financial condition and cash flow.The group tries to limit its foreign currency exposure by having similar currencies for its revenues and operating expenses. The group\u2019s interest-bearing liabilities are also denominated in the same foreign currencies, EUR and USD, thus the group has a natural hedge that reduces the impact of currency fluctuations in these currencies. The group does not hedge currency exposure with the use of financial instruments at the current time but monitors the net exposure over time. Foreign currency sensitivityThe following table illustrates the sensitivity of the group\u2019s interest- bearing liabilities denominated in USD and EUR to a hypothetical increase or decrease in the foreign exchange rates in the period, holding all other variables constant: Change in Increase/decrease Increase/decrease1 USD million DateFX rate in profit before tax in OCIIncrease/decrease in NOK/USD December 31, 2022 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2022 +/- 10% 26.0 - Increase/decrease in NOK/USD December 31, 2021 +/- 10% 16.7 - Increase/decrease in NOK/EUR December 31, 2021 +/- 10% 27.6 - 1 The group has no financial instruments through OCI and hence the effects on equity are zero.Credit riskCredit risk is the risk that a counterparty will not meet its obliga-tions under a financial instrument or customer contract, leading to a financial loss. The group is mainly exposed to credit risk from its operating activities.In order to offset the risk on trade receivables, the company has entered into a credit insurance agreement. Additionally, the group manages its credit risks by trading only with recognized, credit-worthy third parties (mainly distributors/partners). It is the group\u2019s policy that all customers wishing to trade on credit terms are subject to credit verification procedures, which include an assess- ment of credit rating, short-term liquidity and financial position. The group obtains sufficient collateral (where appropriate) from customers as a means of mitigating the risk of financial loss from defaults. In addition, receivable balances are monitored on an ongoing basis, with the result that the group\u2019s exposure to losses has been insignificant and the overall credit risk is assessed as low (i.e. the group has not experienced any losses in the past).An impairment analysis is performed at each reporting date to measure expected credit losses. The provision rates are based on days past due, product type, customer type and rating and cover- age by letters of credit or other forms of credit insurance. For an overview of the aging of trade receivables and the expected credit losses recognized for trade receivables, please refer to note 2.7. Liquidity riskLiquidity risk is the risk that the group will encounter difficultyin meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The group monitors its risk of a shortage of funds by monitoring its working capital, overdue trade receivables and establishing credit facilities. The group\u2019s business requires access to significant credit and guarantee lines and other financing instruments. Its business could be negatively affected if the group is unable to meet its capital require- ments in the future, for example as a result of weak financial market environments, a significant deterioration of its credit standing, a breach of or default under a credit facility agreement or if access to capital becomes cost prohibitive. The group\u2019s business activities could also be negatively affected if its customers or suppliers do not have access to financing on economically viable terms. The group\u2019s objective is to maintain a balance between continuity of funding and flexibility through the use of credit facilities and the Senior Facilities agreement to finance working capital and investments. The group has flexible debt financing through a Revolving Credit Facility as part of the Senior Facilities and may further draw funds or establish additional incremental revolving facilities if deemed necessary (note 4.2). Additionally, the group has a significant positive cash flow from operating activities which limits its liquidity risk. An overview of the maturity profile of the group\u2019s financial liabilities with corresponding cash flow effects is presented in note 4.3.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__76": {
"value": "Credit riskCredit risk is the risk that a counterparty will not meet its obliga-tions under a financial instrument or customer contract, leading to a financial loss. The group is mainly exposed to credit risk from its operating activities.In order to offset the risk on trade receivables, the company has entered into a credit insurance agreement. Additionally, the group manages its credit risks by trading only with recognized, credit-worthy third parties (mainly distributors/partners). It is the group\u2019s policy that all customers wishing to trade on credit terms are subject to credit verification procedures, which include an assess- ment of credit rating, short-term liquidity and financial position. The group obtains sufficient collateral (where appropriate) from customers as a means of mitigating the risk of financial loss from defaults. In addition, receivable balances are monitored on an ongoing basis, with the result that the group\u2019s exposure to losses has been insignificant and the overall credit risk is assessed as low (i.e. the group has not experienced any losses in the past).An impairment analysis is performed at each reporting date to measure expected credit losses. The provision rates are based on days past due, product type, customer type and rating and cover- age by letters of credit or other forms of credit insurance. For an overview of the aging of trade receivables and the expected credit losses recognized for trade receivables, please refer to note 2.7.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__78": {
"value": "4.8Equity and ShareholdersFor the purpose of the group\u2019s capital management, capital includes issued capital and all other equity reserves attributable to the equity holders of the parent. The primary objective of the group\u2019s capital management is to ensure that it maintains healthy working capital and financial stability in order to support its growing business operations and maximize shareholder value.The group manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the group may adjust the dividend payment to shareholders, return capital to shareholders, issue new shares, perform prepayments of debt or draw on short-term credit. In order to achieve this overall objective, the group\u2019s capital manage- ment, among other things, aims to ensure that it reinvests or returns excess cash flows from operations that are not necessary to maintain a healthy operating working capital to its investors. There has been no breach of the financial covenants in the current or previous period. Reference is made to note 4.2.Issued capital and reserves:Number of shares Par value perFinancial position 1Share capital in AutoStore Holdings Ltd.authorized and fully paidshare (USD)(USD million) At January 1, 2021 3,163,317,200 0.01 35.24 Share issue at January 4 9,279,444 0.01 0.11 Share issue at January 22 9,810,000 0.01 0.12 Share issue at April 13 41,113,780 0.01 0.49 (exercise of share options)Share issue at October 12 6,220,005 0.01 0.07 Cancellation of share issue at October 13 -1,200,000 0.01 -0.01Capital reorganization at October 14 - - -3.74Share issue at October 14 (treasury shares) 200,000,000 0.01 2.00At December 31, 2021 3,428,540,429 0.01 34.29 At December 31, 2022 3,428,540,429 0.01 34.29 1 Par value per share of Automate Holdings S.\u00e0 r.l. was 0.01 EUR, while par value per share of AutoStore Holdings Ltd. is 0.01 USD. The table above presents the shares in Automate Holdings S.\u00e0 r.l. until the reorganization on October 14, 2021. From this date, the number of shares and share capital presented represent the capital of AutoStore Holdings Ltd. AutoStore Holdings Ltd. was incorpo-rated on August 31, 2021 with an initial share capital of USD 100. The above-presented shares are issued and fully paid, and include a total of 89,392,501 treasury shares as at December 31, 2022. The authorized share capital of AutoStore Holdings Ltd. is USD 42,500,000, consisting of 4,250,000,000 shares.Reconciliation of the group\u2019s equity is presented in the statement of changes in equity.2022Shareholders of the group Country Account type Total shares Ownership Voting rights(AutoStore Holdings Ltd.)The Bank of New York Mellon U.S. Nominee 1,316,409,731 38.40% 38.40%Citibank, N.A. Ireland Nominee 1,133,373,367 33.06% 33.06%State Street Bank and Trust Comp U.S. Nominee 128,792,039 3.76% 3.76%Alecta Tjanstepension Omsesidigt Luxembourg Ordinary 90,928,350 2.65% 2.65%AutoStore Holdings Ltd. Norway Ordinary 89,392,501 2.61% 2.61%The Bank of New York Mellon U.S. Nominee 85,404,717 2.49% 2.49%JPMorgan Chase Bank, N.A., London UK Nominee 65,003,480 1.90% 1.90%Folketrygdfondet Norway Ordinary 52,327,053 1.53% 1.53%State Street Bank and Trust Comp U.S. Nominee 30,747,612 0.90% 0.90%Lyngneset Invest AS Norway Ordinary 23,183,898 0.68% 0.68%Sumitomo Mitsui Trust Bank (U.S.A) U.S. Nominee 20,482,771 0.60% 0.60%Citibank, N.A. Ireland Nominee 13,951,446 0.41% 0.41%The Bank of New York Mellon U.S. Nominee 12,844,341 0.37% 0.37%Brown Brothers Harriman & Co. U.S. Nominee 12,580,978 0.37% 0.37%The Northern Trust Comp, London Br UK Nominee 11,763,522 0.34% 0.34%Jakob Hatteland Holding AS Norway Ordinary 10,950,000 0.32% 0.32%Polysys AS Norway Ordinary 10,800,000 0.32% 0.32%State Street Bank and Trust Comp U.S. Nominee 10,316,264 0.30% 0.30%J.P. Morgan SE Luxembourg Nominee 10,072,047 0.29% 0.29%Brown Brothers Harriman & Co. U.S. Nominee 7,842,569 0.23% 0.23%Other shareholders 291,373,743 8.50% 8.50%At December 31, 2022 3,428,540,429 100% 100%2021Shareholders of the group Country Account type Total shares Ownership Voting rights(AutoStore Holdings Ltd.)The Bank of New York Mellon U.S. Nominee 1,321,295,717 38.54% 38.54%Bank of America, N.A. U.S. Nominee 1,133,373,367 33.06% 33.06%State Street Bank and Trust Comp U.S. Nominee 141,188,997 4.12% 4.12%Terminator Holding S.a.r.l Luxembourg Ordinary 123,970,423 3.62% 3.62%Autostore Holdings Ltd. Bermuda Ordinary 90,547,342 2.64% 2.64%JPMorgan Chase Bank, N.A., London U.S. Nominee 67,832,799 1.98% 1.98%Alecta Pensionsforsakring Sweden Ordinary 63,085,161 1.84% 1.84%Citibank, N.A. Ireland Nominee 28,214,710 0.82% 0.82%Lyngneset Invest AS Norway Ordinary 23,122,055 0.67% 0.67%State Street Bank and Trust Comp U.S. Nominee 22,192,409 0.65% 0.65%Brown Brothers Harriman & Co. Ireland Nominee 18,411,700 0.54% 0.54%RBC Investor Services Trust Canada Nominee 15,461,931 0.45% 0.45%State Street Bank and Trust Comp U.S. Nominee 15,339,900 0.45% 0.45%Automate Investment II AS Norway Ordinary 14,482,166 0.42% 0.42%Jakob Hatteland Holding AS Norway Ordinary 10,950,000 0.32% 0.32%Polysys AS Norway Ordinary 10,800,000 0.32% 0.32%J.P. Morgan Bank Luxembourg S.A. Luxembourg Nominee 10,688,371 0.31% 0.31%Credit Suisse (Luxembourg) S.A. Luxembourg Nominee 10,209,869 0.30% 0.30%State Street Bank and Trust Comp U.S. Nominee 10,113,779 0.29% 0.29%The Northern Trust Comp, London Br Finland Nominee 9,400,000 0.27% 0.27%Other shareholders 287,882,733 8.40% 8.40%At December 31, 20213,428,540,429 100% 100%The shareholder information is gathered from the VPS share register. In 2022, the account of The Bank of New York Mellon (38.4%) is held by Alpha LP, part of SoftBank Group Corp and the account of Citibank (33.1%) is held by THL Fund VIII. In 2021, Alpha LP held the account of The Bank of New York Mellon (38.5%), and THL Fund VIII held the account of Bank of America (33.1%). On June 7, 2022, the group introduced a new share purchase plan for all permanent employees. Through this program, a total of 1,816,191 shares in AutoStore will be delivered to permanent employees for a purchase price of NOK 16.7. Shares purchased will be subject to a two-year lock-up period. The first block of 1,402,060 shares was delivered to applicants on September 9, 2022 and the second block of 325,696 shares was delivered to applicants on November 8, 2022. The remaining 88,435 will be delivered in 2023. The shares delivered were existing shares held in treasury by AutoStore. Shares held by executive management or the Board at the end of the reporting period are summarized in note 2.5.Accounting policiesDistribution to shareholdersThe group recognizes a liability to make distributions to equity holders when the distribution is authorized and the distribution is no longer at the discretion of the group. As per the corporate laws of Norway, a distribution is authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.The group did not pay dividends to shareholders during the twelve-month period ending December 31, 2022 or the twelve-month period ending December 31, 2021. There are no proposed dividends as of the date of authorization of this annual report. Share price informationShare price December 31, 2022 (NOK) 17.93 Number of shares 3,428,540,429 Market capitalization December 31, 2022 (NOK) 61,456,587,190 USD/NOK exchange rate at December 31, 2022 9.86 Market capitalization December 31, 2022 (USD) 6,234,146,766",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__79": {
"value": "Accounting policiesDistribution to shareholdersThe group recognizes a liability to make distributions to equity holders when the distribution is authorized and the distribution is no longer at the discretion of the group. As per the corporate laws of Norway, a distribution is authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.The group did not pay dividends to shareholders during the twelve-month period ending December 31, 2022 or the twelve-month period ending December 31, 2021. There are no proposed dividends as of the date of authorization of this annual report.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__82": {
"value": "5Tax5.1TaxesAccounting policiesCurrent income taxCurrent income tax is measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the group operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity (OCI) and not in the statement of profit or loss. Deferred taxDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences, except: \u2013 When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable futureDeferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except: \u2013 When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilizedThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.USD million31.12.2022 31.12.2021Current income tax expenseTax payable 31.9 9.8 Change in deferred tax/deferred tax assets -15.8 -14.7Currency effects 11.4 -4.4Total income tax expense27.5 -9.4 Current income tax payable consists of:Income tax payable for the year as above 31.9 9.8 \u2013 of which paid in fiscal year -5.8 -9.1 \u2013 not due for earlier years 0.7 - Income tax payable26.8 0.7 USD million31.12.2022 31.12.2021Deferred tax assetsProperty, plant and equipment 0.8 0.4 Other current assets -0.0 0.6 Liabilities -17.5 -39.2 Losses carried forward (including tax credit) - 0.0 Basis for deferred tax assets-16.7 -38.2 Calculated deferred tax assets 3.8 8.9 - Deferred tax assets not recognized -2.2 -0.2 Net deferred tax assets recognized in balance sheet1.6 8.7 Deferred tax liabilitiesProperty, plant and equipment (including leased assets) 2.1 4.0 Intangible assets 458.8 553.7 Other current assets -0.5 -0.3 Liabilities -12.0 33.4 Basis for deferred tax liabilities448.4 590.7 Calculated deferred tax liabilities 101.6 127.1 Deferred tax not recognized - - Net deferred tax liabilities recognized in balance sheet101.6 127.1 Deferred tax liabilities mainly relate to intangible assets recognized through the acquisition of AutoStore in 2019 (note 6.2).The group\u2019s operations are subject to income tax in various foreign jurisdictions. The statutory income tax rates vary from 11% to 25%, which results in a difference between the statutory income tax rate in Norway and the average tax rate applicable to the group. The average tax rate for the group\u2019s deferred tax liabilities is 22.3% for 2022 and 21.5% for 2021. The average tax rate for the group\u2019s tax expense is 21.6% in 2022 and 15.8% in 2021. A reconciliation of the differences between the theoretical tax expense under the rate applicable in Norway and the actual tax expense is as follows: USD million2022 2021Profit/loss before taxes 127.2 -59.5 Tax expense 22% (tax rate, Norway) 28.0 -13.1 1Permanent differences 0.4 4.5 Effects of foreign tax rates -0.8 -0.7 Other adjustments -0.1 -0.2 Recognized income tax expense 27.5 -9.4 1 The corporate tax rate in Norway (22%) is used as a starting point, as the parent company AutoStore Holdings Ltd. is considered a Norwegian entity for taxation purposes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__81": {
"value": "5Tax5.1TaxesAccounting policiesCurrent income taxCurrent income tax is measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the group operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity (OCI) and not in the statement of profit or loss. Deferred taxDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences, except: \u2013 When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable futureDeferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except: \u2013 When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilizedThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.USD million31.12.2022 31.12.2021Current income tax expenseTax payable 31.9 9.8 Change in deferred tax/deferred tax assets -15.8 -14.7Currency effects 11.4 -4.4Total income tax expense27.5 -9.4 Current income tax payable consists of:Income tax payable for the year as above 31.9 9.8 \u2013 of which paid in fiscal year -5.8 -9.1 \u2013 not due for earlier years 0.7 - Income tax payable26.8 0.7 USD million31.12.2022 31.12.2021Deferred tax assetsProperty, plant and equipment 0.8 0.4 Other current assets -0.0 0.6 Liabilities -17.5 -39.2 Losses carried forward (including tax credit) - 0.0 Basis for deferred tax assets-16.7 -38.2 Calculated deferred tax assets 3.8 8.9 - Deferred tax assets not recognized -2.2 -0.2 Net deferred tax assets recognized in balance sheet1.6 8.7 Deferred tax liabilitiesProperty, plant and equipment (including leased assets) 2.1 4.0 Intangible assets 458.8 553.7 Other current assets -0.5 -0.3 Liabilities -12.0 33.4 Basis for deferred tax liabilities448.4 590.7 Calculated deferred tax liabilities 101.6 127.1 Deferred tax not recognized - - Net deferred tax liabilities recognized in balance sheet101.6 127.1 Deferred tax liabilities mainly relate to intangible assets recognized through the acquisition of AutoStore in 2019 (note 6.2).The group\u2019s operations are subject to income tax in various foreign jurisdictions. The statutory income tax rates vary from 11% to 25%, which results in a difference between the statutory income tax rate in Norway and the average tax rate applicable to the group. The average tax rate for the group\u2019s deferred tax liabilities is 22.3% for 2022 and 21.5% for 2021. The average tax rate for the group\u2019s tax expense is 21.6% in 2022 and 15.8% in 2021. A reconciliation of the differences between the theoretical tax expense under the rate applicable in Norway and the actual tax expense is as follows: USD million2022 2021Profit/loss before taxes 127.2 -59.5 Tax expense 22% (tax rate, Norway) 28.0 -13.1 1Permanent differences 0.4 4.5 Effects of foreign tax rates -0.8 -0.7 Other adjustments -0.1 -0.2 Recognized income tax expense 27.5 -9.4 1 The corporate tax rate in Norway (22%) is used as a starting point, as the parent company AutoStore Holdings Ltd. is considered a Norwegian entity for taxation purposes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__83": {
"value": "Current income taxCurrent income tax is measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the group operates and generates taxable income. Current income tax relating to items recognized directly in equity is recognized in equity (OCI) and not in the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__84": {
"value": "Deferred taxDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences, except: \u2013 When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable futureDeferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except: \u2013 When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss \u2013 In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilizedThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__87": {
"value": "Basis of consolidationThe consolidated financial statements comprise the financial statements of AutoStore Holdings Ltd. and its subsidiaries as of December 31, 2022. The subsidiaries are consolidated when control is achieved as defined by IFRS 10 Consolidated Financial Statements. Specifically, the group controls an investee if, and only if, the group has: \u2013 Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee) \u2013 Exposure, or rights, to variable returns from its involvement with the investee \u2013 The ability to use its power over the investee to affect its returnsGenerally, there is a presumption that a majority of voting rights results in control. However, the group considers all relevant facts and circumstances in assessing whether it has power over an investee. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the group gains control until the date the group ceases to control the subsidiary.Profit or loss and each component of other comprehensive income (\u201cOCI\u201d) is attributed to the equity holders of the parent of the group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the group are eliminated in full-on consolidation.The group does not have ownership in joint arrangements as defined by IFRS 11 Joint Arrangements, other associates, interests in uncon-solidated structured entities or interests in unconsolidated subsid-iaries that require disclosure under IFRS 12 Disclosure of Interests in Other Entities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__86": {
"value": "6.1Interests in Other EntitiesAccounting policiesBasis of consolidationThe consolidated financial statements comprise the financial statements of AutoStore Holdings Ltd. and its subsidiaries as of December 31, 2022. The subsidiaries are consolidated when control is achieved as defined by IFRS 10 Consolidated Financial Statements. Specifically, the group controls an investee if, and only if, the group has: \u2013 Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee) \u2013 Exposure, or rights, to variable returns from its involvement with the investee \u2013 The ability to use its power over the investee to affect its returnsGenerally, there is a presumption that a majority of voting rights results in control. However, the group considers all relevant facts and circumstances in assessing whether it has power over an investee. The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the group gains control until the date the group ceases to control the subsidiary.Profit or loss and each component of other comprehensive income (\u201cOCI\u201d) is attributed to the equity holders of the parent of the group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the group are eliminated in full-on consolidation.The group does not have ownership in joint arrangements as defined by IFRS 11 Joint Arrangements, other associates, interests in uncon-solidated structured entities or interests in unconsolidated subsid-iaries that require disclosure under IFRS 12 Disclosure of Interests in Other Entities. Group structureThe legal structure of the group was changed in October 2021 as a consequence of an internal reorganization. In April 2022, AutoStore announced the opening of a new office in Singapore. The subsidiaries of AutoStore Holdings Ltd. are presented below:Group's voting Consolidated entities Office Currency Shareholding ownership shareAutomate Holdings S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate Intermediate Holdings 1 S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate Intermediate Holdings 2 S.\u00e0 r.l. Luxembourg EUR 100% 100%Automate HoldCo 1 AS Norway NOK 100% 100%Automate BidCo AS Norway NOK 100% 100%PIO AS Norway Norway NOK 100% 100%Terminator BidCo AS Norway NOK 100% 100%AutoStore AS Norway NOK 100% 100%AutoStore Technology AS Norway NOK 100% 100%AutoStore Sp. Z o.o. Poland PLN 100% 100%AutoStore Systems Inc. U.S. USD 100% 100%AutoStore System Limited UK GBP 100% 100%AutoStore SAS France EUR 100% 100%AutoStore System GmbH Germany EUR 100% 100%AutoStore System K.K. Japan JPY 100% 100%AutoStore System Ltd. South Korea KRW 100% 100%AutoStore System AT GmbH Austria EUR 100% 100%AutoStore System S.r.l. Italy EUR 100% 100%AutoStore System S.L. Spain EUR 100% 100%AutoStore System AB Sweden SEK 100% 100%AutoStore System Pte Ltd Singapore SGD 100% 100%1Locai Solutions Inc. U.S. USD 100% 100%1 Owned 100% by AutoStore Systems Inc. All subsidiaries are included in the consolidated statement of financial position.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__90": {
"value": "Accounting policiesA business combination is a transaction or other event in which an acquirer obtains control of one or more businesses. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Determining whether a particular set of assets and activities is a business should be based on whether the integrated set is capable of being conducted and managed as a business by a market participant. Business combinations are accounted for according to IFRS 3 Business Combinations using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at the acquisition date according to IFRS 13 Fair Value Measurement, and the amount of any non-controlling interests in the acquiree. For each business combination, the group elects whether to measure the non-con-trolling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and included in other operating expenses.When the group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument, and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss.Goodwill arises in a business combination when the fair value of consideration transferred exceeds the fair value of identifiable assets acquired less the fair value of identifiable liabilities assumed. Goodwill acquired in a business combination is allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination irrespective of whether other assets or liabilities of the acquiree are assigned to those units, and tested subsequently for impairment",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__89": {
"value": "6.2Business CombinationsAccounting policiesA business combination is a transaction or other event in which an acquirer obtains control of one or more businesses. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Determining whether a particular set of assets and activities is a business should be based on whether the integrated set is capable of being conducted and managed as a business by a market participant. Business combinations are accounted for according to IFRS 3 Business Combinations using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at the acquisition date according to IFRS 13 Fair Value Measurement, and the amount of any non-controlling interests in the acquiree. For each business combination, the group elects whether to measure the non-con-trolling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and included in other operating expenses.When the group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument, and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss.Goodwill arises in a business combination when the fair value of consideration transferred exceeds the fair value of identifiable assets acquired less the fair value of identifiable liabilities assumed. Goodwill acquired in a business combination is allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination irrespective of whether other assets or liabilities of the acquiree are assigned to those units, and tested subsequently for impairment. Acquisitions in 2022The group had no business combinations in 2022.Acquisitions in 2021On January 25, 2021, the group signed an agreement to acquire all shares in Locai Solutions Inc. through its subsidiary AutoStore Systems Inc. Locai is a software company located in Delaware, U.S., providing digital commerce platforms to the grocery market based on artificial intelligence and machine learning technology. The acquisition of Locai broadens AutoStore\u2019s offerings to include order fulfillment and warehouse management software for stand-alone AutoStore solutions. The acquisition was accounted for as a business combination under IFRS 3 Business Combinations.The consideration comprised shares issued by the company of USD 7.0 million and USD 5.0 million in cash. As per the PPA, the group has recognized USD 3.6 million in software and technology, USD 9.2 million in goodwill, and USD 0.8 million in deferred taxes. Goodwill includes the value of expected synergies arising from the acquisition and assembled workforce, which are not separately recognized. None of the goodwill recognized is expected to be deductible for income tax purposes. The goodwill is allocated to the CGU \u201cAutoStore system.\u201d References are made to note 3.5.Transaction costs of USD 0.6 million were expensed and are included in other operating expenses. From the date of acquisition, Locai Solutions Inc. contributed USD 0.36 million in revenue and USD 0.08 million to profit before tax in the group in 2021. If the combination had taken place at the beginning of the year, revenue and profit before tax of the group would have been the same. Fair value recognized USD millionon acquisitionNon-current assetsTechnology and software 3.6 Other net assets - Total non-current assets 3.6 Non-current liabilitiesDeferred tax liability 0.8 Total non-current liabilities 0.8 Total identifiable net assets at fair value 2.8 Purchase consideration 12.0 Goodwill arising on acquisition 9.2 Purchase considerationCash consideration 5.0Share issue 7.0Total consideration12.0Analysis of cash flows on acquisitionNet cash acquired (included in the cash flows from investing activities) 0.0Cash paid (included in the cash flows from investing activities) 5.0Net cash flow from acquisition5.0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__92": {
"value": "6.3Earnings per ShareBasic EPS is calculated by dividing the profit for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.Diluted EPS is calculated by dividing the profit attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that might be issued under the equity-settled share-based option program. The following table reflects the income and share data used in the basic and diluted EPS calculations: USD million2022 2021Continuing operations 99.7 -50.1 Profit/loss attributable to ordinary equity holders of the parent for basic earnings 99.7 -50.1 Shares outstanding (in millions)31.12.2022 31.12.2021Weighted average number of ordinary shares for basic EPS 3,338.0 3,235.3 Weighted average number of ordinary shares adjusted for the effect of dilution 3,428.0 3,235.3 Earnings per share2022 2021Basic earnings per share (USD) 0.030 -0.015 1Diluted earnings per share (USD) 0.029 -0.015 1 The group has equity-settled share-based options (note 7.4), however, as all of the potential ordinary shares from these share-based options were anti-dilutive in 2021 (due to the reported loss in the consolidated group), the diluted earnings per share is the same as basic earnings per share for 2021. The potential ordinary shares are disclosed in note 2.5.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__94": {
"value": "Accounting policiesProvisions are liabilities with uncertain timing or amount and are recognized when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that an out- flow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the balance sheet date, that is, the amount that an entity would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party. Refund liabilityA refund liability is the obligation to refund some or all of the consid-eration received (or receivable) from the customer and is measured at the amount the group ultimately expects it will have to return to the customer. The group classifies provisions in the following categories: \u2013ssurance-type warranties: A provision for expected warranty claims on products sold during the year, based on experience of the level of repairs and returns. \u2013nerous shared cost: A provision for the unfavorable terms related to the service element (shared cost) in a lease agreement. The provision includes the expected future payments above the market rate for these services discounted to present value. \u2013 Social security for share-based payments: Contains a provision for the accrued social security on share options and restrictive share units, which will be paid when the options are exercised/fully vested. \u2013alary-related costs: Contains a provision for accrued holiday pay, unspent vacation days, accrued bonuses, restructuring, and other salary-related accruals. \u2013efund liability: A provision for the discounts to be refunded to customers (distributors) after the reporting date. The provision is recognized as variable consideration by applying the expected value method to the discount based on historical sales and specific forward-looking factors. See note 2.1 for further descriptions.A provision is made and calculated based on management assump-tions at the time the provision is made and is updated as, and when, new information becomes available. All provisions are reviewed at the end of the financial year.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__93": {
"value": "7.1ProvisionsAccounting policiesProvisions are liabilities with uncertain timing or amount and are recognized when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that an out- flow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the balance sheet date, that is, the amount that an entity would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party. Refund liabilityA refund liability is the obligation to refund some or all of the consid-eration received (or receivable) from the customer and is measured at the amount the group ultimately expects it will have to return to the customer. The group classifies provisions in the following categories: \u2013ssurance-type warranties: A provision for expected warranty claims on products sold during the year, based on experience of the level of repairs and returns. \u2013nerous shared cost: A provision for the unfavorable terms related to the service element (shared cost) in a lease agreement. The provision includes the expected future payments above the market rate for these services discounted to present value. \u2013 Social security for share-based payments: Contains a provision for the accrued social security on share options and restrictive share units, which will be paid when the options are exercised/fully vested. \u2013alary-related costs: Contains a provision for accrued holiday pay, unspent vacation days, accrued bonuses, restructuring, and other salary-related accruals. \u2013efund liability: A provision for the discounts to be refunded to customers (distributors) after the reporting date. The provision is recognized as variable consideration by applying the expected value method to the discount based on historical sales and specific forward-looking factors. See note 2.1 for further descriptions.A provision is made and calculated based on management assump-tions at the time the provision is made and is updated as, and when, new information becomes available. All provisions are reviewed at the end of the financial year. Reconciliation of provisions SocialAssurance-Onerous security for Salary- type shared share-based related Refund Other USD millionwarranties cost payments costs liabilityprovisions Total At January 1, 2021 0.4 5.1 3.8 2.4 4.2 5.0 20.8 Additions through acquisitions - - - - - - - Additional provisions made 0.2 - 58.1 6.7 5.1 6.8 76.9 Amounts used -0.4 -0.6 -22.2 -2.4 -4.2 -5.0 -34.7 Currency translation effects -0.0 - -1.0 -0.1 -0.1 -0.2 -1.4 At December 31, 2021 0.2 4.5 38.7 6.6 5.0 6.7 61.6 Additions through acquisitions - - - - - - - Additional provisions made 0.2 - 0.0 5.6 18.2 9.6 33.7 1Remeasurement - - -18.8 - - - -18.8 Amounts used -0.2 -0.6 - -6.6 -5.0 -6.7 -19.0 Currency translation effects - -0.3 -2.0 -0.1 - -0.2 -2.6 At December 31, 2022 0.2 3.6 17.9 5.5 18.2 9.4 54.8 Current provisions - 0.5 17.9 5.0 18.2 7.3 48.9 Non-current provisions 0.2 3.1 - 0.5 - 2.1 6.0 1 The decrease in provisions in the reporting period is mainly related to a reduction in the provision for social security tax on management options attributable to the reduced share price during the period. Changes in the provision of SST were USD 18.8 million (reduction) as a result of a decrease in the underlying share price. The provision for social security for share-based payments will be settled when the options are exercised. References are made to note 7.4. The onerous shared cost provision is expected to be settled at the end of 2028 with approximately similar amounts each year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__97": {
"value": "Accounting policiesOther commitments and contingenciesContingent liabilities are not recognized in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabilities where the possibility of an outflow of economic resources is considered remote.Contingent assets are not recognized in the annual accounts but are disclosed when an inflow of economic benefits is considered probable.Other commitmentsThe group does not have other significant commitments to be disclosed.Assets pledged as security and guarantee liabilitiesFor assets pledged as security and guarantee liabilities, reference is made to note 4.2.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__96": {
"value": "7.2Other Commit- ments and ContingenciesAccounting policiesOther commitments and contingenciesContingent liabilities are not recognized in the annual accounts. Significant contingent liabilities are disclosed, with the exception of contingent liabilities where the possibility of an outflow of economic resources is considered remote.Contingent assets are not recognized in the annual accounts but are disclosed when an inflow of economic benefits is considered probable.Other commitmentsThe group does not have other significant commitments to be disclosed.Assets pledged as security and guarantee liabilitiesFor assets pledged as security and guarantee liabilities, reference is made to note 4.2. Legal claims - the Ocado litigationInternational Trade Commission (ITC) On December 13, 2021, the Chief Administrative Law Judge, Charles Bullock, of the International Trade Commission (ITC) in Washington, D.C., issued an Initial Determination in connection with the action AutoStore brought in October 2020 against Ocado Group Plc. and certain of its affiliates (Ocado). The Initial Determination found, among other things, that despite Ocado\u2019s infringement of three patents asserted by AutoStore, those patents were invalid. On March 10, 2022, the Commission affirmed the Initial Determina- tion and terminated the investigation. AutoStore has appealed the Commission\u2019s decision. The Commission\u2019s decision does not impact AutoStore\u2019s ability to sell its products anywhere. United States District Court for the District of New Hampshire On January 17, 2021, Ocado Innovations Ltd. and Ocado Solutions Ltd. filed a complaint for patent infringement against AutoStore AS and AutoStore System Inc. in the United States District Court for the District of New Hampshire, claiming that the AutoStore entities infringe four Ocado patents. On October 6, 2021, Ocado filed another complaint in the United States District Court for the District of New Hampshire, alleging that AutoStore infringes a fifth Ocado patent. The two cases have been consolidated into one case. AutoStore maintains that it does not infringe any of the five patents and that all claims asserted against AutoStore are invalid. The trial is currently scheduled for December 2023. US Patent Trial and Appeal Board (PTAB) proceedingsIn June 2022, the U.S. Patent Trial and Appeal Board (\u201cPTAB\u201d) issued Final Written Decisions in Inter Partes Review proceedings initiated by Ocado that challenged the validity of AutoStore\u2019s U.S. Patent Nos. 10,294,025 and 10,474,140. On June 1, the PTAB upheld the validity of one challenged claim of U.S. Patent No. 10,294,025 and found three claims invalid. On June 27, the PTAB upheld the validity of all challenged claims of U.S. Patent No. 10,474,140. There are no other pending PTAB proceedings challenging AutoStore patents. AutoStore filed petitions for Inter Partes Review against three of Ocado\u2019s patents asserted in the District of New Hampshire: United States Patent Nos. 9,796,080 (\u201c\u2019080\u201d), 10,913,602 (\u201c\u2019602\u201d), and 10,961,051 (\u201c\u2019051\u201d). The PTAB declined to institute proceedings for the \u2019080 patent on October 8, 2021, and declined to institute proceedings for the \u2019602 patent on July 20, 2022. The PTAB began proceedings against Ocado\u2019s \u2019051 patent on September 14, 2022, which remain ongoing. German proceedings As of February 2022, all of Ocado\u2019s claims against AutoStore in Germany have been stayed pending a determination by the German Patent Office of AutoStore\u2019s ongoing challenge to the validity of Ocado\u2019s utility model IP rights in its claims. Ocado brought four actions in total against AutoStore in Germany \u2013 two in the Munich District Court and two in the Mannheim District Court \u2013 seeking to assert two Ocado utility models. Three of those actions were stayed by orders of the German courts and Ocado agreed to a stay on the remaining action. AutoStore has consistently maintained that the Ocado utility models in Germany are invalid, and the company\u2019s proceedings in the German Patent Office to invalidate them are ongoing. UK proceedings AutoStore\u2019s patent infringement claim against Ocado in the UK High Court took place in March/April 2022. On March 30, 2023, the Court gave judgment in respect of this trial, dismissing AutoStore\u2019s patent infringement case. The decision does not have any impact on AutoStore\u2019s business or operations. AutoStore is evaluating its options in light of the judgment. European Patent Office proceedings There are ongoing proceedings at various stages in the European Patent Office (\u201cEPO\u201d) concerning the respective validity of certain Ocado and AutoStore patents. On February 27 and 28, 2023, the Technical Boards of Appeal of the EPO affirmed the initial rulings of the EPO in relation to two of AutoStore\u2019s patents at issue in the UK trial heard in March/April 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__99": {
"value": "7.3Related-party TransactionsRelated parties are group companies, major shareholders, members of the Board, management in the parent company and the group subsidiaries. Notes 6.1 and 4.8 provide information about the group structure, including details of the subsidiaries and the holding company. Significant agreements and remuneration paid to the Board for the current and prior period appear in note 2.5.All transactions within the group or with other related parties are based on the principle of arm\u2019s length.The group had no material transactions entered into with related parties (outside the group) in 2022. The following table provides the total amount of related-party transactions in 2021:2021Amounts received Payments made to Receivable from Payable to USD millionfrom related partiesrelated partiesrelated partiesrelated parties Total 2021THL Managers VIII, LLC - 7.7 - - 7.7 SoftBank/EQT - - - 5.5 5.5 Total related-party transactions - 7.7 - 5.5 13.2 The above payments relate to management fees paid to majority owners for advisory services to the group. The agreement was terminated in connection with the IPO, and the group recognized a termination fee in 2021 in accordance with the contracts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__101": {
"value": "Accounting policiesThe group has share-based programs for its key employees, which are accounted for as equity-settled transactions. The share option program for key employees gives the employee the right to purchase shares in the ultimate parent company AutoStore Holdings Ltd. The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the group\u2019s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognized as of the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the group\u2019s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modifi-cation, is recognized for any modification that increases the total fair value of the share-based payment transaction or is otherwise beneficial to the employee. Where an award is canceled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. The share options were anti-dilutive in 2021 due to the reported losses in the period in the consolidated group, thus the potential ordinary shares and the earnings per share computation were not affected for this period (note 6.3).Social security tax on options is recorded as a liability and is recognized over the estimated vesting period (note 7.1).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__100": {
"value": "7.4Share-based PaymentsAccounting policiesThe group has share-based programs for its key employees, which are accounted for as equity-settled transactions. The share option program for key employees gives the employee the right to purchase shares in the ultimate parent company AutoStore Holdings Ltd. The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the group\u2019s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognized as of the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the group\u2019s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modifi-cation, is recognized for any modification that increases the total fair value of the share-based payment transaction or is otherwise beneficial to the employee. Where an award is canceled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. The share options were anti-dilutive in 2021 due to the reported losses in the period in the consolidated group, thus the potential ordinary shares and the earnings per share computation were not affected for this period (note 6.3).Social security tax on options is recorded as a liability and is recognized over the estimated vesting period (note 7.1). Significant accounting estimates and assumptionsSocial security contributionsThe group recognizes a liability for social security contributions with respect to options to be exercised. The amount of liability is depen- dent on the number of options that are expected to be exercised (that is, vesting conditions are taken into account). The expense is allocated over the period from the grant date to the end of the vesting period. From the end of the vesting period to the date of actual exercise, the liability is adjusted by reference to the current market value of the shares (that is, fair value of the liability at the end of the reporting period). Social security contribution is calcu-lated for the intrinsic value of the options (share price \u2013 strike value) over the vesting period. Valuation assessmentThe group has performed valuation calculations for the option program for both the fair value at grant date, subsequent measure- ment and the ongoing calculation for social security contribution. The following will assess the reasonableness of the model applied, inputs to the model and calculation of the fair value at grant. The fair value of the share options is estimated at the grant date using the Black-Scholes-Merton model and a Monte Carlo Simulation for the options, taking into account the terms and conditions on which the share options were granted. Option programsIn 2019, the group entered into option agreements, awarding non- transferable options to, inter alia certain key employees. In total, 163,338,159 options have been issued to 25 option-holders, each option with a strike price equal to the fair market value of the under-lying shares at the time the options were issued, which at the time was EUR 0.33, equivalent to USD 0.38 per option. The options are divided into service (33%) and performance (67%) options. In connection with SoftBank\u2019s acquisition of 40% of AutoStore 2021, 100% of the performance options were deemed vested immediately prior to the closing of the SoftBank transaction. Further, all service options were deemed vested as if they had vested on a quarterly basis. The unvested service options shall continue to vest on a quarterly basis (i.e. 5% each quarter) from the grant date until the fifth anniversary. In connection with the closing of the SoftBank transaction, the option-holders were provided with the opportunity to exercise approximately 40% of their vested options and, as a result, sell the underlying shares to SoftBank. The service requirement of all options shall be deemed satisfied immediately prior to (but subject to the consummation of) a change of control, given that the option holder is, and has been, continuously employed by and continues to provide services to the group through the date of such consummation, and as otherwise set forth in an option agreement.On July 7, 2022, the group introduced a new long-term incentive plan (\u201cLTIP\u201d) for certain members of the company\u2019s management and other leading employees. Under the LTIP, the executives are awarded a conditional grant of share options, performance share units (\u201cPSUs\u201d) and/or restricted stock units (\u201cRSUs\u201d). The total number of options that will be awarded under the LTIP for 2022 is 791,241, where each option will give the holder the right to acquire one AutoStore share from the company. The options under the LTIP for 2022 shall vest on July 7, 2025, and can be exercised within 12 months with a strike price of NOK 21.88 per share. The total number of PSUs that will be awarded under the LTIP for 2022 is 343,217. Vesting of the PSUs is based on the achievement of financial or other performance goals, and may only be vested by the holder upon approval of the board of directors at their sole discretion. Once vested, each PSU will award the holder with one AutoStore share (settled through treasury shares). The total number of RSUs that will be awarded under the LTIP for 2022 is 739,081. The RSUs are subject to time-based vesting and shall vest on the date falling 36 months following the date of grant. Once vested, each RSU will award the holder with one AutoStore share (settled through treasury shares).RSUExternal members of the Board of Directors of AutoStore Holdings Ltd. are partly compensated through annual grants of RSUs (restricted stock options) as well as cash compensation. Vesting period is two years from each grant date. New share options of 43,548 were granted to external members of the Board of Directors of Autostore Holdings Ltd. in 2022.The expense recognized for employee services received during the year is shown in the following table:USD million2022 2021Expense arising from equity-settled share-based payment transactions -1.0 -2.7 Total expense arising from share-based payment transactions -1.0 -2.7 USD 1.0 million is the IFRS 2 cost of the options. The expense is based on estimated fair value of the options on grant date and recognized over the vesting period.Movements during the year The following table illustrates the number and movements in share options during the year:USD million2022 2021Outstanding at January 1 88,744,288 163,071,600 1Granted during the year 1,917,087 310,077 Forfeited during the year - - Exercised during the year - 74,637,389 Expired during the year - - Outstanding at December 31 90,661,375 88,744,288 Fully vested, not yet exercised at December 31 69,136,494 58,247,282 1 New share options of 1,873,539 were granted during the period in connection with the group\u2019s new long-term incentive plan (\u201cLTIP\u201d) for certain members of the company\u2019s management and other leading employees, which was introduced on July 7, 2022. Under the LTIP, the executives are awarded a conditional grant of share options, performance share units (\u201cPSUs\u201d) and/or restricted stock units (\u201cRSUs\u201d). New share options of 43,548 granted during Q4 2022 were restricted stock units (\u201cRSUs\u201d) to external members of the Board of Directors of Autostore Holdings Ltd., who are partly compensated through option instruments. The weighted average remaining contractual life for the share options outstanding as of December 31, 2022 was 5.6 years, compared to 7.4 years as of December 31, 2021. The weighted average fair value of options granted during 2022 was USD 1.24, compared to USD 0.09 in 2021. The following tables list the inputs to the models used for the option program for the year ended December 31, 2022: 2019-20202019-20202019-2020 incentive programService Performance USD millionoptionsoptionsWeighted avg. fair values at the measurement date \u20ac 0.07 \u20ac 0.03 Dividend (%) - - Expected volatility 25% 25%Risk-free interest rate 1.25% 1.25%Expected life of share options (years) 4.1 5.0 Weighted average share price \u20ac 0.33 \u20ac 0.33 Model used Black-Scholes-MertonThe incentive program is presented in EUR as this program was originally denominated in EUR. RSU board incentive program20222021USD millionRSU RSU Weighted avg. fair values at the measurement date $1.82 $3.40 Dividend (%) - - Expected volatility 79% 25%Risk-free interest rate 3.06% 1.16%Expected life of share options (years) 2.8 2.0 Weighted average share price $1.82 $3.25 Model used Black-Scholes-Merton202220222022 LTI-program PSU and RSUUSD millionoptionsWeighted avg. fair values at the measurement date $0.94 $1.67 Dividend (%) - - Expected volatility 57% 57%Risk-free interest rate 2.69% 2.69%Expected life of share options (years) 4.0 2.8 Weighted average share price $1.67 $1.67 Model used Black-Scholes-MertonThe expected life of the share options is based on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility is based on historical data for comparable companies, as the group has a limited number of share transactions. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s8_notes__8__104": {
"value": "7.5Events After the Reporting PeriodAccounting policiesIf the group receives information after the reporting period, but prior to the date of authorization for the issue, about conditions that existed at the end of the reporting period, the group will assess if the information affects the amounts that it recognizes in the group\u2019s consolidated financial statements. The group will adjust the amounts recognized in its financial statements to reflect any adjusting events after the reporting period and update the disclo-sures that relate to those conditions in light of the new information. For non-adjusting events after the reporting period, the group will not change the amounts recognized in its consolidated financial statements but will disclose the nature of the non-adjusting event and an estimate of its financial effect, or a statement that such an estimate cannot be made, if applicable.Non-adjusting eventsOcado litigationPlease refer to note 7.2 for events after the reporting period related to the Ocado litigation case.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300KYN3M0LSM5A413",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}