Volvo 1999 Annual Report Download - page 71

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69
1997 1998 1999
Accounts receivable 13,704 16,637 14,871
Prepaid expenses and accrued income 2,867 2,918 2,601
VAT receivables 1,413 1,661 1,437
Current income tax receivables 468 656 841
Other receivables 4,290 6,071 2,797
Total, after deduction of reserves for doubtful
accounts receivable 1,147 (927; 710) 22,742 27,943 22,547
As of 1999, deferred tax assets are reported as long-term receivables.
Change of reserve for doubtful accounts receivable 1997 1998 1999
Balance sheet, December 31, preceding year 764 710 927
Change of reserve charged to income 164 126 382
Utilization of reserve related to actual losses (70) (61) (86)
Acquired and divested operations 36 37 (178)
Translation differences 48 35 (60)
Reclassifications, etc. (232) 80 162
Balance sheet, December 31, current year 710 927 1,147
Other short-term receivables Note 18
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
1997 1998 1999
Government securities 7,350 2,902 1,848
Financial institutions 272 240 5,419
Commercial paper – – 8,559
Real estate financial institutions 1,051 1,851 3,411
Securities issued by associated companies 251 1,368 725
Shares 625 783 833
Other 1,413 24 161
Total 10,962 7,168 20,956
1997 1998 1999
Cash in banks 5,435 8,771 4,324
Time deposits in banks 4,206 4,285 3,989
Total 9,641 13,056 8,313
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, 1998.
Number of shares and par value
A (no.) B (no.) Total (no.) Par value 1
December 31, 1999 138,604,945 302,915,940 441,520,885 2,649
1 Par value per share is SEK 6.00.
Marketable securities Note 19
Cash and bank accounts Note 20
Shareholders’ equity Note 21
In accordance with the Swedish Companies Act, distribu-
tion of dividends is limited to the lesser of the unrestrict-
ed equity shown in the consolidated or Parent Company
balance sheets after proposed appropriations to restrict-
ed equity. Unrestricted equity in the Parent Company at
December 31, 1999 amounted to 65,893.
As of December 31, 1999, Volvo related foundation’s
holdings in Volvo were 1.17% of the share capital and
2.68% of the voting rights.
As shown in the consolidated balance sheet as of
December 31, 1999, unrestricted equity amounted to
82,490 (49,626; 42,829). It is estimated that 0 of this
amount will be allocated to restricted reserves.