Volvo 2002 Annual Report Download - page 52

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50/51
The Volvo Group
Notes to consolidated financial statements
Note 25Current liabilities
Note 26Assets pledged
Balance sheet amounts for loans were as follows:
2000 2001 2002
Bank loans 7,160 7,417 5,442
Other loans 18,668 29,400 20,576
Total 25,828 36,817 26,018
11,138 (12,608; 7,750), and commercial paper, 8,762 (15,966;
10,724).
The weighted average interest rate for the interest-bearing cur-
rent liabilities was 5.5% (5.4; 6.6).
Noninterest-bearing liabilities accounted for 48,599 (50,935;
27,742), or 65% (58; 52) of the Group’s total current liabilities.
Balance sheet amounts for Other current liabilities were as fol-
lows:
Bank loans include current maturities, 1,046 (1,484; 2,917), of long-
term loans. Other loans include current maturities of long-term loans,
2000 2001 2002
Advances from customers 3,512 3,112 2,589
Current income tax liabilities 697 707 621
Wages, salaries and withholding taxes 2,527 4,368 4,335
VAT liabilities 735 772 1,056
Accrued expenses and prepaid income 6,960 7,724 7,315
Deferred leasing income – 2,033 1,652
Residual value liability –4,341 3,985
Other liabilities 1,934 5,156 4,832
Total 16,365 28,213 26,385
Secured bank loans at year-end 2002 amounted to 588 (472; 473). The corresponding amount for other current liabilities was 1,775 (1,732;
1,506).
The liabilities for which the above assets were pledged amounted at year-end to 3,721 (3,907; 2,672).
2000 2001 2002
Property, plant and equipment – mortgages 109 264 356
Chattel mortgages 350 394 495
Receivables 1,065 1,063 1,180
Inventories 254 199 66
Cash, marketable securities 1,207 1,802 1,513
Other 515 –
Total 2,990 3,737 3,610