Volvo 2002 Annual Report Download - page 45

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Note 13 Shares and participations
Group holdings of shares Dec 31, 2001 Dec 31, 2002
and participations in Registration Percentage Book value Book value
non-Group companies number holding 1SEK M 2SEK M 2
Shares in associated companies,
equity method of accounting
Bilia AB, Sweden 556112-5690 43 679 710
Shanghai Sunwin Bus Corp, China – 50 193 139
Petro Stopping Centers Holdings, LP, USA – 29 159 80
Blue Chip Jet HB, Sweden 969639-1011 40 156 151
Aviation Lease Finance USA – 49 162 172
Xian Silver Bus Corp., China – 50 143 135
Arbustum Invest AB, Sweden 556543-4247 40 33 32
Merkvim Metal Works Ltd, Israel — 27 22 22
Effero AB, Sweden 556357-2931 45 22 22
Other holdings 398 194
Total shares and participations in associated companies 31,967 1,657
Shares and participations in other companies
Scania AB, Sweden 556184-8564 46/31 24,051 24,026
Deutz AG, Germany – 11 670 670
Henlys Group Plc, Great Britain – 10 524 524
Other holdings 586 615
Total shares and participations in other companies 25,831 25,835
Book value in accordance with Group balance sheet 27,798 27,492
1 Where two percentage figures are shown, the first refers to share capital and the second to voting rights.
2 Associated companies are reported in accordance with the equity method. Other companies are reported at cost.
3 Volvo’s share of shareholders’ equity in associated companies (incl. equity in untaxed reserves) amounted to 1,629 (1,951). Excess values amounted to 28 (16).
1 Machinery and equipment pertains mainly to production equipment.
2 Includes write-downs, 344.
3 Acquisition cost less accumulated depreciation and amortization.
4 Includes wholly owned subsidiaries that previously were accounted for
according to the equity method.
Capital expenditures amounted to 6,813 (8,287; 5,430). Investments
in assets under operating leases amounted to 5,424 (5,852; 5,709).
Capital expenditures approved but not yet implemented at December
31, 2002, amounted to SEK 5.5 billion (6.1; 6.8).
Value in Value in Deprecia- Subsidaries Trans- Value in Book value
Accumulated balance balance tion and acquired lation Re- balance in balance
depreciation and sheet sheet amortiza- Sales/ and differ- classifi- sheet sheet
amortization 2000 2001 tion 2scrapping divested 4ences cations 2002 2002 3
Goodwill 2,354 2,961 1,094 (234) – (231) (100) 3,490 11,297
Entrance fees,
aircraft engine programs 1,221 1,306 57 – – 4 (166) 1,201 915
Product and software
development – 3 307 – – 19 162 491 3,458
Other intangible assets 390 570 128 14 – (25) 60 747 1,375
Total intangible assets 3,965 4,840 1,586 (220) – (233) (44) 5,929 17,045
Buildings 4,198 6,408 670 (180) 69 (469) (53) 6,445 10,243
Land and land improvements 255 484 60 (31) 5 (59) (5) 454 3,715
Machinery and equipment 116,514 23,402 3,404 (1,413) 63 (1,831) 70 23,695 14,730
Construction in progress,
including advance payments ––––––––2,111
Total buildings, machinery
and equipment 20,967 30,294 4,134 (1,624) 137 (2,359) 12 30,594 30,799
Assets under operating leases 5,038 14,976 5,124 (2,182) 165 (1,482) (759) 15,842 23,525
Total tangible assets 26,005 45,270 9,258 (3,806) 302 (3,841) (747) 46,436 54,324