Volvo 2001 Annual Report Download - page 73

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69
Change of reserve for doubtful accounts receivable 1999 2000 2001
Balance sheet, December 31, preceding year 927 1,147 1,101
Change of reserve charged to income 382 151 222
Utilization of reserve related to actual losses (86) (10) (241)
Acquired and divested operations (178) 4 303
Translation differences (60) 67 42
Reclassifications, etc. 162 (258) (34)
Balance sheet, December 31, current year 1,147 1,101 1,393
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
1999 2000 2001
Government securities 1,848 1,581 1,399
Banks and financial institutions 5,419 2,702 436
Corporate institutions 8,559 2,348 3,968
Real estate financial institutions 3,411 2,581 7,626
Securities issued by associated companies 725 – –
Shares 833 – –
Other 161 356 85
Total 20,956 9,568 13,514
1999 2000 2001
Cash in banks 4,324 5,802 4,941
Time deposits in banks 3,989 598 8,928
Total 8,313 6,400 13,869
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.
At the beginning of 2001, Volvo held 10% of the total
number of shares in AB Volvo. Such shares were trans-
ferred to Renault SA on January 2, as partial payment for
Renault V.I. and Mack. The transfer of shares to Renault
SA was treated as an issue of new shares. During the
beginning of 2001, Volvo repurchased an additional
10% of the total number of shares outstanding in AB
Volvo. As a result, a total of SEK 8.3 billion was trans-
ferred to the shareholders’ of AB Volvo. On February 9,
5% of the total number of shares outstanding were
transferred to Renault SA as final payment for the
shares of Renault V.I. Volvo thus holds 5% of the total
number of registered A and B shares.
The total number of outstanding Volvo shares by year
end 2001 amounts to 419,444,842. The average num-
ber of outstanding shares was 422,429,364 in 2001.
Number of shares outstanding and par value A (no.) B (no.) Total (no.) Par value 1
December 31, 2001 131,674,699 287,770,143 419,444,842 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, 2001 amounted to 62,264.
As of December 31, 2001, Volvo related foundations
holdings in Volvo were 0.54% of the share capital and
1.39% of the voting rights.
As shown in the consolidated balance sheet as of
December 31, 2001, unrestricted equity amounted to
70,239 (71,885; 82,490). It is estimated that 13 of this
amount will be allocated to restricted reserves.
Note 19 Marketable securities
Note 20 Cash and bank accounts
Note 21 Shareholders’ equity