Saab 2011 Annual Report Download - page 130

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NOTE 42, CONT.
e table below shows the total sum of guarantees that do not represent con-
tingent liabilities and a distribution by category and issuer.
MSEK 31-12-2011
per cent of
total 31-12-2010
per cent of
total
Parent Company guarantees 1,540 21 2,275 21
Bank guarantees 5,674 79 8,407 79
Total guarantees 7,214 100 10,682 100
Bank guarantees:
On demand 5,014 88 5,700 68
Proprietary 660 12 2,707 32
Total bank guarantees 5,674 100 8,407 100
Type of guarantee:
Advances 3,177 44 4,127 39
Completion 3,365 47 3,666 34
Milestone payments - - 2,558 24
Tenders, credits and other 672 9 331 3
Total guarantees 7,214 100 10,682 100
With regard to the Group’s so-called fullment guarantees for commitments
to customers, the likelihood of an outow of resources is extremely small
and, as a result, no value is recognised.
NOTE 43
TRANSACTIONS WITH RELATED PARTIES
e Group’s nancial agreements conform to market principles. In January
, Combitech , a wholly owned subsidiary of Saab , acquired Sörman
Information . e largest shareholder in Sörman was Investor . In Saab’s
view, the purchase price corresponds to market value. Saab otherwise did not
have any material transactions with Investor. Neither does Saab have any sig-
nicant transactions with Board members or members of
Group Management. For information on remuneration, see Note .
Of the Parent Company’s sales,  per cent referred to sales to Group com-
panies, while  per cent of the Parent Company’s purchases were from
Group companies.
Sales to and purchases from the Group’s associated companies amounted
to approximately   () and   (), respectively.
During the year  Systems divested its shares in Saab and is no longer
considered a related party.
NOTE 44
GROUP COMPANIES
Significant Group company holdings
Group
company’s
Ownership
share,
per cent
Group company registered office, country 2011 2010
Combitech AB Växjö, Sweden 100 100
Saab Barracuda AB Västervik, Sweden 100 100
Saab Barracuda LLC USA 100 100
Saab Czech s.r.o. Czech Republic 100 100
Saab Dynamics AB Karlskoga, Sweden 100 100
Saab Danmark A/S Denmark 100 100
Saab Grintek Defence (Pty) Ltd South Africa 75 75
Saab Seaeye Ltd UK 100 100
Saab Sensis Corporation USA 100 -
Saab Systems Oy Finland 100 100
Saab Systems Pty Ltd Australia 100 100
Saab Training Systems AB Jönköping, Sweden 100 100
Parent Company
MSEK 2011 2010
Accumulated acquisition value
Opening balance, 1 January 16,321 16,362
New issues/shareholders’ contributions 566 20
Acquisitions 203 14
Sales and liquidations -23 -3
Reduction of purchase price - -72
Reclassifications 19 -
Closing balance, 31 December 17,086 16,321
Accumulated impairments
Opening balance, 1 January -10,551 -10,477
Impairments for the year -128 -74
Closing balance, 31 December -10,679 -10,551
Carrying amount, 31 December 6,407 5,770
Impairment reversals and impairments for the year are reported in the
income statement on the line “Result from shares in Group companies.”
FINANCIAL INFORMATION > NOTES
126 SAAB ANNUAL REPORT 2011