Volvo 2002 Annual Report Download - page 73

Note 10 Intangible and tangible assets
Value in Value in Value in
balance sheet balance sheet Sales/ Reclassi- balance sheet
Acquisition cost 2000 2001 Investments scrapping fications 2002
Rights 52 52 – – – 52
Total intangible assets 52 52 – – – 52
Buildings 12 17 – (2) – 15
Land and land improvements 5 8 – (1) – 7
Machinery and equipment 49 47 – – – 47
Construction in progress – 1 1 – (1) 1
Total tangible assets 66 73 1 (3) (1) 70
Value in Value in Value in Book value
balance sheet balance sheet Sales/ balance sheet in balance
Accumulated depreciation 2000 22001 2Depreciation 1scrapping 2002 2sheet 20023
Rights 39 52 – – 52 0
Total intangible assets 39 52 – – 52 0
Buildings 1 2 – (1) 1 14
Land and land improvements –––––7
Machinery and equipment 35 36 2 – 38 9
Construction in progress – ––––1
Total tangible assets 36 38 2 (1) 39 31
The assessed value of buildings was 7 (8; 4) and of land 4 (4; 2).
Investments in tangible assets amounted to 1 (10; 10). Capital
expenditures approved but not yet implemented at year-end 2002
amounted to 2 (1; 1).
1Including write-downs
2Including accumulated write-downs
3Acquisition value, less depreciation
Note 11 Investments in shares and participations
Holdings of shares and participations are specified in AB Volvo’s holding of shares on pages 75–77. Changes in holdings of shares and partici-
pations are shown below.
Group companies Non-Group companies
2000 2001 2002 2000 2001 2002
Balance December 31, previous year 33,528 39,729 38,140 27,596 28,587 26,224
Acquisitions/New issue of shares 855 15,581 1,055 1,335 1 (25)
Divestments (12) (22,388) (3) (316) (2,344) (6)
Shareholder contributions 5,730 17,435 289 – – –
Write-downs (372) (12,217) (531) (28) (20) (25)
Balance, December 31 39,729 38,140 38,950 28,587 26,224 26,168
Shares and participations in Group companies
An investment of 1,054 was made in newly issued preference
shares in VNA Holding Inc.
A shareholder contribution was made to Volvo China Investment
Co Ltd of 107, whereupon the shareholdings were written down by
the corresponding amount. Shareholder contributions were also
made to Volvo Holding Mexico, 89, Volvo Technology Transfer AB,
50, Volvo Bussar AB, 28 and to Celero Support AB, 15.
Write-downs were carried out at the end of the year on holdings
in Sotrof AB, 400.
2001: All shares in Renault V.I. that were acquired from Renault
SA, were paid for with Volvo shares held by AB Volvo and were
booked to an amount of 10,700. The shares were then sold group
internal to Volvo Holding France SA.
The shares in Mack Trucks Inc were acquired from Renault V.I. for
3,225 and newly issued shares were subscribed for in the amount of
1,490. At the end of the year the holdings were written down by
1,490.
A shareholder contribution of 8,678 was made to the newly
formed company Volvo Global Trucks AB, who then aquired the
shares in Volvo Lastvagnar AB for the corresponding amount.
The shares in Volvo Powertrain AB and Volvo Parts AB were
acquired from Volvo Lastvagnar AB.
The shares in Mitsubishi Motors Corporation together with all
rights and obligations relating to the company, were given a total
value of 3,010 and were used as a shareholder contribution to a
newly established German subsidiary; Herkules VmbH. The company
was then divested to DaimlerChrysler.