Volvo 1998 Annual Report Download - page 68

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66
NOTE S
1996 1997 1998
Accounts receivable 12,933 13,704 16,637
Prepaid expenses and accrued income 3,219 2,867 2,918
VAT receivables 1,375 1,413 1,661
Deferred income tax receivables 922 1,515 2,499
Income tax receivables 581 468 656
Other receivables 3,228 4,290 6,071
Total, after deduction of reserves for doubtful
accounts receivable, 927 (710; 764) 22,258 24,257 30,442
A small portion of the receivables extends over a period of more than one year but may be used as security for bank
loans, as required.
Marketable securities consist mainly of holdings of interest-bearing securities, distributed as shown below:
1996 1997 1998
Government securities 14,665 7,350 2,902
Financial institutions 1,430 272 240
Commercial papers 165 — —
Real estates financing institutions 1,526 1,051 1,851
Securities issued by associated companies 664 251 1,368
Shares 452 625 783
Other 2,675 1,413 24
Total 21,577 10,962 7,168
Marketable securities held in connection with interest
arbitrage transactions in 1996 amounting to 2,893 were
offset against corresponding loans and as a result did
not affect total assets.
1996 1997 1998
Cash in banks 2,928 5,435 8,771
Time deposits in banks 2,156 4,206 4,285
Total 5,084 9,641 13,056
The share capital of the Parent Company is divided into
two series of shares: A and B. Both series carry the
same rights, except that each Series A share carries the
right to one vote and each Series B share carries the
right to one tenth of a vote. The number of shares is
unchanged compared with December 31, 1997.
Number of shares and par value
A (no.) B (no.) Total (no.) Par value1
December 31, 1998 138,604,945 302,915,940 441,520,885 2,649
1 Par value per share is SEK 6.00.
Change of reserve for doubtful accounts receivables 1996 1997 1998
Balance sheet, December 31, preceding year 822 764 710
Change of reserve charged for income 133 164 126
Utilization of reserve related to actual losses (38) (70) (61)
Acquired and divested operations (92) 36 37
Translation differences 7 48 35
Other (68) (232) 80
Balance sheet, December 31, current year 764 710 927
Other short-term receivables Note 18
Marketable securities Note 19
Cash and bank accounts Note 20
Shareholders’ equity Note 21