Volvo 2005 Annual Report Download - page 118
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The Volvo Group
114 Volvo Group 2005
Long-term loans mature as follows:
2007 17,892
2008 13,395
2009 3,647
2010 5,192
2011 or later 3,429
Total 43,555
Of other long-term liabilities the majority will mature within fi ve years.
At year-end 2005, credit facilities granted but not utilized and
which can be used without restrictions amounted to approximately
SEK 21 billion (19). Approximately SEK 20 billion of these facilities
consisted of stand-by facilities for loans with varying maturities
through the year 2010. A fee normally not exceeding 0.25% of the
unused portion is charged for credit facilities.
Note 27 Current liabilities
Balance sheet amounts for loans were as follows:
2004 2005
Bank loans 4,267 5,204
Other loans 17,129 26,126
Total 21,396 31,330
Bank loans include current maturities, 2,243 (2,259), of long-term
loans. Other loans include current maturities of long-term loans,
18,983 (13,324), and commercial paper, 5,413 (2,667).
Non-interest-bearing liabilities accounted for 67,681 (57,657), or
68% (73) of the Group’s total current liabilities.
Balance sheet amounts for Other current liabilities were as follows:
2004 2005
Advances from customers 2,298 2,460
Wages, salaries and withholding taxes 4,987 5,680
VAT liabilities 1,193 1,351
Accrued expenses and prepaid income 9,736 11,850
Deferred leasing income 1,141 1,406
Residual value liability 1,873 1,840
Other liabilities 3,863 5,675
Total 25,091 30,262
Secured bank loans at year-end 2005 amounted to 186 (194). The
corresponding amount for other current liabilities was 1,685 (1,578).
Note 28 Assets pledged
2004 2005
Property, plant and equipment – mortgages 205 593
Assets under operating leases 1,665 1,700
Chattel mortgages 374 350
Receivables 319 360
Inventories 13 16
Cash, marketable securities 470 230
Other assets pledged – 6
Total 3,046 3,255
The liabilities for which the above assets were pledged amounted at year-end to 3,372 (3,194).
Notes to consolidated fi nancial statements