Saab 2012 Annual Report Download - page 102

NOTE 28 Inventories
Group
MSEK 31-12-2012 31-12-2011
Raw materials and consumables 2,314 2,109
Work in progress 1,489 1,470
Finished goods and goods for resale 617 755
Total 4,420 4,334
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 31-12-2012 31-12-2011
Raw materials and consumables 1,633 1,518
Work in progress 1,190 1,059
Finished goods and goods for resale 520 519
Advance payments to suppliers 42 56
Total 3,385 3,152
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 had
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   (). Rever-
sals of previous write-downs amounted to   (). See also Note .
NOTE 30 Prepaid Expenses and Accrued Income
Group Parent Company
MSEK 31-12-2012 31-12-2011 31-12-2012 31-12-2011
Prepaid expenses 426 367 377 275
Accrued service income 145 143 59 73
Other accrued income 315 319 297 292
Total 886 829 733 640
Prepaid expenses relate to pension premiums, rents, licenses and insurance.
NOTE 31 Liquid Assets
Group
MSEK 31-12-2012 31-12-2011
Cash and bank balances 622 681
Bank deposits 862 1,083
Funds in escrow accounts 131 139
Deposits held on behalf of customers 1 15
Total according to statement of financial position 1,616 1,918
Total according to statement of cash flows 1,616 1,918
Bank deposits relate to short-term investments, the large part of which has a
maturity of less than one month. Funds in escrow accounts relate to cash
deposited with independent third parties until contractual terms are met.
e Group’s unutilised account overdra facility amounted to  ()
at year-end. With regard to the Group’s other loan facilities, refer to Notes 
and .
NOTE 32 Assets held for Sale
e Group holds no assets or liabilities for sale.
FINANCIAL INFORMATION > NOTES
98 SAAB ANNUAL REPORT 2012