Volvo 2000 Annual Report Download - page 67

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65
Change of reserve for doubtful accounts receivable 1998 1999 2000
Balance sheet, December 31, preceding year 710 927 1,147
Change of reserve charged to income 126 382 151
Utilization of reserve related to actual losses (61) (86) (10)
Acquired and divested operations 37 (178) 4
Translation differences 35 (60) 67
Reclassifications, etc. 80 162 (258)
Balance sheet, December 31, current year 927 1,147 1,101
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
1998 1999 2000
Government securities 2,902 1,848 1,581
Banks and financial institutions 240 5,419 2,702
Corporate institutions – 8,559 2,348
Real estate financial institutions 1,851 3,411 2,581
Securities issued by associated companies 1,368 725 –
Shares 783 833 –
Other 24 161 356
Total 7,168 20,956 9,568
1998 1999 2000
Cash in banks 8,771 4,324 5,802
Time deposits in banks 4,285 3,989 598
Total 13,056 8,313 6,400
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. During 2000, AB Volvo
repurchased 10% of its registered shares, 13,860,494
Series A shares and 30,291,594 Series B shares for
SEK 11.8 billion. On January 2, 2001, the repurchased
shares were transferred to Renault S.A. as partial pay-
ment for the shares of Renault V.I, whereby the number
of outstanding Volvo shares amounts to 441,520,885.
The average number of outstanding shares was
421,683,857 in 2000.
Number of shares outstanding and par value A (no.) B (no.) Total (no.) Par value 1
December 31, 2000 124,744,451 272,624,346 397,368,797 2,649
1 Par value per share is SEK 6.00 (total par value is based on 441,520,885 registered shares).
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, 2000 amounted to 52,368.
As of December 31, 2000, Volvo related foundations
holdings in Volvo were 1.16% of the share capital and
2.71% of the voting rights.
As shown in the consolidated balance sheet as of
December 31, 2000, unrestricted equity amounted to
71,885 (82,490; 49,626). It is estimated that SEK
49,000 of this amount will be allocated to restricted
reserves.
Note 19 Marketable securities
Note 20 Cash and bank accounts
Note 21 Shareholders’ equity