Volvo 1998 Annual Report Download - page 88

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PARENT COMPANY AB VOLVO
86
1996 1997 1998
Tax receivables 8 13 –
Accounts receivables 15 14 5
Prepaid expenses and accrued income 23 27 54
Other receivables 18 3 9
Total 64 57 68
The reserve for doubtful receivables amounted to 6 (—; —) at the end of the year.
Total
Restricted equity Unrestricted shareholders’
Share capital Premium fund Legal reserve equity equity
December 31, 1995 2,318 – 7,241 27,081 36,640
Cash dividend – – – (1,854) (1,854)
Distribution of shareholding in Swedish Match – – – (8,000) (8,000)
Profit for the year 1996 – – – 898 898
December 31, 1996 2,318 – 7,241 18,125 27,684
Cash dividend – – – (1,993) (1,993)
New issue of shares 3 113 – – 116
Redemption of AB Volvo shares (113) – – (5,694) (5,807)
Bonus issue of shares 441 (113) – (328) –
Profit for the year 1997 – – – 18,049 18,049
December 31, 1997 2,649 – 7,241 28,159 38,049
Dividend – – – (2,208) (2,208)
Profit for the year 1998 – – – 24,044 24,044
December 31, 1998 2,649 – 7,241 49,995 59,885
The distribution of share capital by class of shares is shown in Note 21 to the consolidated financial statements, on
pages 66–67.
Provisions for pensions and similar benefits correspond
to the actuarially calculated value of obligations not
insured with third parties or secured through transfers of
funds to pension foundations. The amount of pensions
falling due within one year is included. AB Volvo has
insured the pension obligations with third parties. Of the
Value in Value in Value in
The composition of, and changes balance sheet Allocations balance sheet Allocations balance sheet
in, untaxed reserves: 1996 1997 1997 1998 1998
Tax allocation reserve – – – 978 978
Tax equalization reserve 354 (89) 265 (89) 176
Exchange reserve 375 (172) 203 (199) 4
Accumulated extra depreciation
Machinery and equipment 29 (16) 13 (4) 9
Total 758 (277) 481 686 1,167
Other short-term receivables Note 12
Shareholders’ equity Note 13
Untaxed reserves Note 14
Avsättningar för pensioner Not 15
Provisions for pensions Note 15
Shares of Ultralux AB were purchased for 2.
Participations in two tenant-owners associations were
acquired for 12.
1996: The shares of Protorp Förvaltnings AB were
written down by 247 in connection with the repayment
of share capital, and by 2 in connection with the receipt
of dividends.
A shareholder contribution of 1 was made to Dansk
Mobiltelefon AB, following which all of the company’s
shares, with a book value of 42, were sold.
New subscription of shares in Euroventures Nordica II
BV were made for 2, while the holding in Euroventures
BV was reduced by 4 in conjunction with a writedown of
share capital. A shareholder contribution was provided to
Näringslivskredit NLK AB, 5, after which the holding was
written down by the same amount.