Volvo 1999 Annual Report Download - page 64

The Volvo Group
62
Net sales per business and market area are shown in tables on pages 24 and 26.
Other operating expenses include losses on forward and options contracts of 620 (640; 1,180) and amortization of
goodwill amounting to 398 (338; 196).
Operating income in 1999 was charged with items affect-
ing comparability amounting to 26,695 (– 2,331; –) per-
taining to the gain on sale of Volvo Cars. In 1998, items
affecting comparability pertained to the restructuring
costs aimed at adapting Volvo’s industrial structure and
the distribution and market organization. The adaption
included, for example, closure, moving or merger of
production sites. Approximately 1,300 of the total amount
1997 1998 1999
Intangible assets 253 574 525
Property, plant and equipment 4,731 5,753 2,514
Assets under operating leases 1,812 3,299 2,132
Total 6,796 9,626 5,171
Operating income excluding items affecting comparability by business area is shown in a table on page 26. Depreciation
and amortization is included in operating income and is specified by type of asset as shown below:
was attributable to contractual pensions and excess
personnel, approximately 600 to writedowns of assets,
348 in capital gain on the sale of Trucks’ rear-axle plant
in Lindesberg and the remainder, approximately 800 to
other restructuring costs. Cars accounted for 681 of the
costs, Trucks for 46, Buses 422, Construction Equipment
910, Marine and Industrial Engines 158 and other opera-
tions for 114.
Net sales Note 3
Other operating incom e and expenses Note 4
Item s affecting comparibility Note 5
Operating incom e Note 6
The effects during 1999 on the Volvo Group’s balance
sheet and cash flow statement in connection with the
acquisition of subsidiaries and other business
units are specified in the following table:
Intangible assets 480
Property, plant and equipment 147
Inventories 365
Current receivables 233
Liquid funds 51
Other assets 43
Minority interests 335
Provisions (72)
Loans (256)
Current liabilities (264)
Acquired net assets 1,062
Liquid funds paid (1,062)
Liquid funds according to acquisition analysis 51
Effect on Group liquid funds (1,011)
The effects during 1999 on the Volvo Group’s balance
sheet and cash flow statement in connection with the
divestment of subsidiaries and other business
units are specified in the following table:
Intangible assets (46)
Property, plant and equipment (17,915)
Assets under operating leases (12,324)
Shares and participations (100)
Inventories (11,600)
Sales-financing receivables (19,288)
Loans to external parties 110,474
Other receivables (13,203)
Liquid funds (1,602)
Minority interests 49
Provisions for postemployment benefits 866
Other provisions 11,054
Loans 28,682
Other liabilities 17,622
Divested net assets (7,331)
Liquid funds received 33,661
Liquid funds, divested companies (1,602)
Effect on Group liquid funds 32,059
1 Of which, 12,214 pertains to the not yet received portion of
consideration discounted to present value.