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THE VOLVO GROUP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
64
Increase (decrease) in obsolescence reserve 1998 1999 2000
Balance sheet, December 31, preceding year 1,310 1,738 1,277
Increase (decrease) in obsolescence reserve charged to income 232 233 155
Scrapping (84) (247) (53)
Acquired and divested operations 210 (376) 3
Translation differences 66 66 76
Reclassifications, etc. 4 (137) (125)
Balance sheet, December 31 1,738 1,277 1,333
1998 1999 2000
Receivable from Ford Motor Company – 12,125 –
Convertible debenture loan in Henlys – 2,046 2,288
Other loans to external parties 3,313 3,434 2,744
Deferred tax assets 4,186 1,666 1,527
Other receivables 3,490 818 705
Total 10,989 20,089 7,264
As of 1999, deferred tax assets are reported as long-term receivables. Other receivables include interest-free deben-
ture loans to associated companies at a nominal value of – (– ; 2,700).
1998 1999 2000
Finished products 20,872 11,622 13,210
Production materials, etc. 11,256 9,816 10,341
Total 32,128 21,438 23,551
1998 1999 2000
Installment credits 4,859 4,099 6,143
Financial leasing 3,774 4,595 5,195
Retailer financing 11,815 6,890 6,816
Other receivables 1,804 912 728
Total 22,252 16,496 18,882
The increase in 1999, excluding Cars, was 3,137. The increase in 2000 and in 1999 was mainly attributable to the North
American operations.
1998 1999 2000
Receivable from Ford Motor Company – – 12,125
Accounts receivable 16,637 14,871 16,174
Prepaid expenses and accrued income 2,918 2,601 2,821
VAT receivables 1,661 1,437 1,659
Current income tax receivables 656 841 842
Other receivables 6,071 2,797 4,695
Total, after deduction of reserves for doubtful
accounts receivable 1,101 (1,147; 927) 27,943 22,547 38,316
As of 1999, deferred tax assets are reported as long-term receivables.
Note 15 Other long-term receivables
Note 16 Inventories
Note 17 Short-term customer-financing receivables
Note 18 Other short-term receivables