Volvo 2002 Annual Report Download - page 48

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46/47
The Volvo Group
Notes to consolidated financial statements
Note 20Cash and bank accounts
Note 21 Shareholders’ equity
2000 2001 2002
Cash in banks 5,802 4,941 4,157
Time deposits in banks 598 8,928 4,714
Total 6,400 13,869 8,871
Note 19 Marketable securities
2000 2001 2002
Government securities 1,581 1,399 203
Banks and financial institutions 2,702 436 484
Corporate institutions 2,348 3,968 1,140
Real estate financial institutions 2,581 7,626 14,841
Other 356 85 39
Total 9,568 13,514 16,707
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
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 total number of registered shares by year end 2002 amount-
ed to 441,520,885. After repurchase of shares during 2001, current-
ly amounting to 5% of the total number of registered A and B shares,
the total number of outstanding Volvo shares by year end 2002
amounted to 419,444,842. The average number of outstanding
shares was 419,444,842 in 2002.
Number of shares outstanding and par value A (no.) B (no.) Total (no.) Par value 1
December 31, 2002 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, distribution of div-
idends is limited to the lesser of the unrestricted equity shown in the
consolidated or Parent Company balance sheets after proposed
appropriations to restricted equity. Unrestricted equity in the Parent
Company at December 31, 2002 amounted to 56,423.
As of December 31, 2002, Volvo-related foundations’ holdings in
Volvo were 0.32% of the share capital and 0.65% of the voting
rights.
As shown in the consolidated balance sheet as of December 31,
2002, unrestricted equity amounted to 61,536 (70,239; 71,885).
It is estimated that 0 of this amount will be allocated to restricted
reserves.
Change of reserve for doubtful accounts receivable 2000 2001 2002
Balance sheet, December 31, preceding year 1,147 1,101 1,393
Change of reserve charged to income 151 222 224
Utilization of reserve related to actual losses (10) (241) (290)
Acquired and divested operations 4 303 (5)
Translation differences 67 42 (266)
Reclassifications, etc. (258) (34) 23
Balance sheet, December 31, current year 1,101 1,393 1,079