Saab 2014 Annual Report Download - page 72

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FINANCIAL INFORMATION – FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
MSEK 2014 2013
Net income for the year 1,168 742
Other comprehensive income:
Items that will not be reversed in the income statement:
Revaluation of net pension obligations -1,220 1,255
Tax attributable to revaluation of net pension
obligations 266 -285
Total -954 970
Items that may be reversed in the income statement:
Translation differences 517 -132
Net loss on available-for-sale financial assets 27 -
Net gain/loss on cash flow hedges:
Change in value -1,140 -174
Reversed through profit and/or loss -23 -81
Tax attributable to net gain/loss on cash flow hedges 253 59
Total -366 -328
Other comprehensive income -1,320 642
Net comprehensive income for the year -152 1,384
of which Parent Company’s shareholders’ interest -167 1,399
of which non-controlling interest 15 -15
FINANCIAL NET
The financial net related to pensions is the financial cost for net pension liabilities recognised in the balance sheet; see note 37,
for more information regarding defined-benefit pension plans.
Net interest items refer to return on liquid assets and short-term investments including interest expenses on short-term and
long-term interest-bearing liabilities.
Currency gains/losses reported in financial net are related to hedges of the tender portfolio, which are valued at fair value.
Other net financial items consist of costs attributable to the programme for the sale of accounts receivables, unrealised
results from the market valuation of short-term investments, project interest and other currency effects, for example changes
related to liquid assets in currencies other than SEK. In 2013, a non-recurring item of MSEK 83, relating to a lost legal dispute,
was reported in financial net.
In 2013, Saab invested in the Indian company Pipavav Defence and Offshore Engineering Company Limited. A combination
of negative currency effects and share price development resulted in a value decline of MSEK 133 in 2013 and MSEK 19 in
2014, which are recognised in financial net.
FINANCIAL NET
MSEK Jan–Dec 2014 Jan–Dec 2013
Financial net related to pensions -57 -74
Net interest items 7 23
Currency gains/losses -5 -26
Other net financial items -81 -289
Total -136 -366
Revaluation of net pension obligations
has had a pre-tax effect of
MSEK-1,220 (1,255) on net compre-
hensive income for the year, see note
37 for more information. The after-tax
effect of net gain/losses of cash flow
hedges on net comprehensive income
amounted to MSEK-910 (-196), see
note 41 for more information.
68 – SAAB ANNUAL REPORT 2014