Saab 2012 Annual Report Download - page 104

NOTE 34 Earnings per Share
2012 2011
Net income for the year attributable to
Parent Company’s shareholders (MSEK) 1,564 2,225
Weighted average number of common shares
outstanding :
before dilution (thousands) 105,633 104,982
after dilution (thousands) 109,150 109,150
Earnings per share, before dilution (SEK) 14.81 21.19
Earnings per share, after dilution (SEK) 14.33 20.38
e weighted average number of shares outstanding before dilution refers to
the total number of shares in issue less the average number of repurchased
treasury shares. e weighted average number of shares outstanding aer
dilution refers to the total number of shares in issue.
NOTE 35 Interest-bearing Liabilities
Group
MSEK 31-12-2012 31-12-2011
Long-term liabilities
Liabilities to credit institutions 4 1,103
Other interest-bearing liabilities 101 115
Total 105 1,218
Current liabilities
Liabilities to credit institutions 1,100 46
Liabilities to joint ventures 378 449
Other interest-bearing liabilities 159 25
Total 1,637 520
Total interest-bearing liabilities 1,742 1,738
Terms and repayment schedules
Collateral for bank loans amounts to   (). Of the long-term liabilities,
  (,) falls due between one and ve years of the closing day and
  () later than ve years of the closing day.
Liabilities to credit institutions mainly consist of Medium Term Notes
(). For more information on nancial risk management, see Note .
e fair value of s exceeds book value by  (). Saab otherwise
does not consider there to be a signicant dierence between book and fair
value.
NOTE 36 Liabilities to Credit Institutions
Parent Company
MSEK 31-12-2012 31-12-2011
Current liabilities
Overdraft facilities: Available credit/limit 107 118
Short-term portion of bank loans: Unutilised portion -107 -118
Utilised credit amount - -
Short-term borrowing from credit institutions 1,100 -
Total 1,100 -
Long-term liabilities
Overdraft facilities: Available credit/limit 4,000 4,000
Long-term portion of bank loans: Unutilised portion -4,000 -4,000
Utilised credit amount - -
Long-term borrowing from credit institutions - 1,100
Total - 1,100
Total liabilities to credit institutions 1,100 1,100
In December , Saab established a  programme of   billion in
order to enable the issuance of long-term loans on the capital market. Under
the terms of this programme, Saab has issued bonds and Floating Rate Notes
() for  ,.
NOTE 37 Employee Benefits
Saab has two types of pension plans: dened-benet and dened-contribu-
tion. In dened-benet plans, post-employment compensation is based on a
percentage of the recipient’s salary. Saab has around ten types of dened-ben-
et plans. e predominant plan is the  plan, and the second largest plan
refers to state-funded retirement pension. Saab’s dened-benet plans are
secured in three ways: as a liability in the balance sheet, in pension funds or
funded through insurance with mainly Alecta. e Saab Pension Fund, that
secured part of the  plan, had assets of , (,) as of  Decem-
ber , compared to an obligation of  , (,) according to ,
or a solvency margin of  per cent().
e portion secured through insurance with Alecta refers to a dened-
benet plan that comprises several employers and is reported according to a
pronouncement by the Swedish Financial Reporting Board,  . For scal
year , the Group did not have access to the information that would make
it possible to report this plan as a dened-benet plan. e  pension plan,
which is secured through insurance with Alecta, is therefore reported as a
dened-contribution plan. Alecta’s surplus can be distributed to policyhold-
ers and/or insureds. At year-end , Alecta’s surplus in the form of the col-
lective funding ratio amounted to  per cent (). e collective funding
ratio is the market value of Alecta’s assets as a percentage of the insurance
obligations calculated according to Alecta’s actuarial assumptions, which
does not conform to  .
In dened-contribution plans, pensions are based on the premiums paid
and return on assets.
FINANCIAL INFORMATION > NOTES
100 SAAB ANNUAL REPORT 2012