Volvo 2004 Annual Report Download - page 64
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62 The Volvo Group
Notes to consolidated financial statements
Depreciation and amortization 2002 2003 2004
Trucks 5,766 4,933 5,330
Buses 328 293 286
Construction Equipment 647 653 789
Volvo Penta 80 78 122
Volvo Aero 495 545 417
Other 448 721 232
Total excl Financial Services 7,764 7,223 7,176
Financial Services 3,080 2,946 3,129
Volvo Group total 10,844 10,169 10,305
Research and development expenses 2002 2003 2004
Trucks 4,175 4,874 5,145
Buses 396 453 475
Construction Equipment 685 904 1,007
Volvo Penta 352 291 312
Volvo Aero 173 224 209
Other 88 83 85
Volvo Group total 5,869 6,829 7,233
Income from investments in associated companies 2002 2003 2004
Trucks 15 (55) 13
Buses 811
Construction Equipment – – –
Volvo Penta –––
Volvo Aero (70) (77) (1)
Other 173 297 (11)
Volvo Group excl Financial Services 126 166 2
Financial Services 56 34 25
Volvo Group total 182 200 27
Total assets 2002 2003 2004
Operating assets, excluding Financial Services: 1
Trucks 68,988 68,307 70,772
Buses 8,913 6,855 7,911
Construction Equipment 14,409 14,476 16,673
Volvo Penta 3,340 2,604 3,242
Volvo Aero 11,631 8,982 8,670
Other 228,166 23,664 3,858
Total operating assets excluding Financial Services 135,447 124,888 111,126
Interest-bearing financial assets 32,648 37,516 46,312
Tax receivables 8,113 7,220 6,193
Total assets in Financial Services 69,364 66,842 71,532
Other and eliminations (6,350) (5,214) (12,267)
Volvo Group total 239,222 231,252 222,896
1 Defined as Total assets less Interest-bearing financial assets and Tax receivables.
2 Investment in Scania included with 0 (20,424; 24,026).