Demant · Annual Report 2020 8.3 Government grants (DKK million) Government grants by function: Production costs R&D costs Distribution costs Administrative expenses Total 2020 2019 42 - 52 17 227 - 25 - 346 17 In 2020, the Demant Group received government grants in the amount of DKK 346 million (DKK 17 million in 2019) of which DKK 326 million is related to Covid-19 publicly funded compensation schemes. Non-Covid-19 grants are offset against research and development costs. Accounting policies Government grants are recognised when there is reasonable certainty that the conditions for such grants are satisfied and that they will be awarded. Grants received as compensation for costs incurred are recognised proportionately in the income statement over the periods in which the related costs are recognised in the income statement and are offset against costs incurred. Government grants relating to the acquisition of noncurrent assets are deducted from the cost of such assets. 8.4 Events after the balance sheet date The company is not aware of any events after the balance sheet date that might affect the financial statements. 130 Section 8 · Other disclosure requirements
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