Volvo 2003 Annual Report Download - page 44

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42
The Volvo Group
Notes to consolidated financial statements
Depreciation and amortization 2001 2002 2003
Trucks 4,647 5,766 4,933
Buses 359 328 293
Construction Equipment 622 647 653
Volvo Penta 65 80 78
Volvo Aero 814 495 545
Other 540 448 721
Total excl Financial Services 7,047 7,764 7,223
Financial Services 2,914 3,080 2,946
Volvo Group total 9,961 10,844 10,169
Research and development expenses 2001 2002 2003
Trucks 3,614 4,175 4,874
Buses 498 396 453
Construction Equipment 674 685 904
Volvo Penta 287 352 291
Volvo Aero 211 173 224
Other 107 88 83
Volvo Group total 5,391 5,869 6,829
Income from investments in associated companies 2001 2002 2003
Trucks (130) 15 (55)
Buses (11) 8 1
Construction Equipment — — —
Volvo Penta ———
Volvo Aero (72) (70) (77)
Other 125 173 297
Volvo Group excl Financial Services (88) 126 166
Financial Services 138 56 34
Volvo Group total 50 182 200
Total assets 2001 2002 2003
Operating assets, excluding Financial Services: 1
Trucks 82,431 68,988 68,307
Buses 9,083 8,913 6,855
Construction Equipment 14,178 14,409 14,476
Volvo Penta 2,538 3,340 2,604
Volvo Aero 13,389 11,631 8,982
Other 228,600 28,166 23,664
Total operating assets excluding Financial Services 150,219 135,447 124,888
Interest-bearing financial assets 37,300 32,648 37,516
Tax receivables 8,548 8,113 7,220
Total assets in Financial Services 73,528 69,364 66,842
Other and eliminations (8,670) (6,350) (5,214)
Volvo Group total 260,925 239,222 231,252
1 Defined as Total assets less Interest-bearing financial assets and Tax receivables.
2 Investment in Scania included with 20,424 (24,026; 24,051).