Saab 2012 Annual Report Download - page 97

Download and view the complete annual report

Please find page 97 of the 2012 Saab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 150

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150

NOTE 18 Lease Assets and Lease Agreements
As the former manufacturer of the regional aircra Saab  and Saab ,
Saab has a great interest in ensuring that these aircra maintain high capacity
utilisation. Over  aircra have been delivered and  are included in Saab’s
leasing eet, of which  aircra are owned by Saab. Leasing operations are
carried out in the global market. Operating lease terms conform to customary
terms in the international aircra leasing market, which may entail the right to
early termination, purchases and extensions, as well as security, geographical
and tax-related limitations on the allocation of the aircra in question. No air-
cra are held via nance leases, nor is Saab the lessor in any nance leases. e
operations are carried out in .
Owned aircra are depreciated on a straight-line basis over – years.
e leasing eet is expected to be divested around .
Leasing aircraft obtained for leasing purposes
MSEK 2012 2011
Acquisition value
Opening balance, 1 January 2,336 3,792
Sales -1,342 -1,514
Translation differences -52 58
Closing balance, 31 December 942 2,336
Depreciation
Opening balance, 1 January -1,373 -2,238
Sales 841 991
Depreciation for the year -53 -114
Translation differences 42 -12
Closing balance, 31 December -543 -1,373
Impairments
Opening balance, 1 January -195 -404
Sales and revaluations 97 208
Translation differences 1 1
Closing balance, 31 December -97 -195
Total 302 768
Other lease assets
Opening balance, 1 January 3 4
Acquisitions 1 1
Depreciation for the year -2 -1
Translation differences - -1
Closing balance, 31 December 2 3
Carrying amount, 31 December 304 771
Leasing fees for aircraft obtained/leased via operating leases
MSEK
Payments
to lessors
Payments
from
air lines1)
Payments
from
air lines2)
Outcome
2011 238 66 126
2012 248 72 20
Contracted
2013 244 83 8
2014 98 37 8
2015 - - 8
2016 - - 6
2017 - - 5
2018 and forward - - -
Total contracted 342 120 35
1) Receipts from airlines for aircraft held via operating leases and leased out via operating leases.
2) Receipts from airlines for owned aircraft leased out via operating leases.
e leasing eet is periodically valuated in terms of the present value of the
future payments it is expected to generate. e inow is represented by pro-
jected receipts from customers and the Export Credits Guarantee Board
() in Sweden. Disbursements consist of fees to the lessee and for technical,
legal and administrative activities directly related to management of the eet.
Insurance protection limits Saab’s risk. However, the internal distribution
between expected receipts from customers and those from  will be
aected in each instance by current projections.
Leasing fees for other assets obtained via operating leases1)
Other leasing fees refer to premises, computers and cars.
Group
MSEK
Premises
and
buildings
Machinery
and equip-
ment
Outcome
2011 281 104
2012 232 146
Contracted
2013 253 135
2014 226 93
2015 215 52
2016 196 16
2017 184 1
2018 and forward 716 -
Total contracted 1,790 297
FINANCIAL INFORMATION > NOTES
SAAB ANNUAL REPORT 2012 93