Saab 2011 Annual Report Download - page 113

e decrease in other interest-bearing receivables mainly relates to the
divestment of Aker Holding.
Assignment revenue refer to assignment costs incurred plus reported
gross income less any losses attributable to the work performed. Unutilised
advance payments amount to  , ().
Costs attributable to assignment revenue amounted to  , (,).
Reported gross income amounted to   (,).
Parent Company
MSEK 31-12-2011 31-12-2010
Other long-term receivables
Interest-bearing receivables 25 1
Non interest-bearing receivables 9 9
Total 34 10
Parent Company
MSEK 31-12-2011 31-12-2010
Other receivables held as current assets
Non interest-bearing receivables 286 126
Subtotal 286 126
Receivables from customers
Assignment revenue 2,194 2,741
Less utilised advance payments -435 -876
Subtotal 1,759 1,865
Total 2,045 1,991
Assignment revenue refer to assignment costs incurred plus reported gross
income less any losses attributable to the work performed. Unutilised
advance payments amount to   ().
Costs attributable to assignment revenue amounted to  , (,).
Reported gross income amounted to   ().
Parent Company
MSEK 2011 2010
Long-term receivables
Accumulated acquisition value
Opening balance, 1 January 10 44
Incremental receivables 25 1
Deductible receivables -1 -35
Closing balance, 31 December 34 10
NOTE 28
INVENTORIES
Group
MSEK 31-12-2011 31-12-2010
Raw materials and consumables 2,109 1,681
Work in progress 1,470 1,534
Finished goods and goods for resale 755 885
Total 4,334 4,100
Saab and the Swedish Ministry of Enterprise, Energy and Communications
have reached agreement with the National Debt Oce to co-nance Saab’s
participation in the Airbus A project. e co-nancing is in the form of a
royalty loan maximised at  . Repayment will take the form of a roy-
alty on each delivery to Airbus. rough , the National Debt Oce has
paid out a net of   (), which reduces inventory in the nancial
statements.
e Group’s cost of goods sold includes inventory impairments of
 (). e reversal of previous impairments amounts to   ().
e value of inventories measured at fair value less selling expenses amounts
to   (). Of inventories,   is expected to be realised more
than twelve months aer the closing day.
Parent Company
MSEK 31-12-2011 31-12-2010
Raw materials and consumables 1,518 1,263
Work in progress 1,059 948
Finished goods and goods for resale 519 540
Advance payments to suppliers 56 31
Total 3,152 2,782
Cost of goods sold for the Parent Company includes inventory impairments
of   () aer the reversal of previous impairments of   (). e
value of inventories measured at fair value less selling expenses amounts to
  (). Of the Parent Company’s inventories,   is expected to
be realised more than twelve months aer the closing day.
NOTE 29
ACCOUNTS RECEIVABLE
Accounts receivable in the Group amount to  , (,). In , Saab
sold receivables as part of the sales programme arranged in  to
strengthen its nancial position and increase nancial exibility. Customers
in most cases are nations with high credit worthiness.
e receivables were sold in their entirety at a favourable funding level.
is reduced accounts receivable at year-end by   (,) and also
has a negative eect on cash ow of  - (). During the year,
accounts receivable were written down by   (). Reversals of previous
write-downs amounted to   ().
Accounts receivable in the Parent Company amount to  , (,).
During the year, receivables were written down by   (). Reversals of
previous write-downs amounted to   (). See also Note .
NOTE 30
PREPAID EXPENSES AND ACCRUED INCOME
Group Parent Company
MSEK 31-12-2011 31-12-2010 31-12-2011 31-12-2010
Prepaid expenses 367 399 275 347
Accrued service income 143 148 73 87
Other accrued income 319 133 292 78
Total 829 680 640 512
Prepaid expenses relate to pension premiums, rents, licenses and insurance,
among other things.
NOTE 27, CONT.
FINANCIAL INFORMATION > NOTES
SAAB ANNUAL REPORT 2011 109