Volvo 2005 Annual Report Download - page 128

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The Volvo Group
124 Volvo Group 2005
Fair value of Volvo’s fi nancial instruments 1
December 31, 2004 December 31, 2005
Carrying Fair Carrying Fair
value value value value
Assets
Investments in shares and participations
fair value determinable
2 670 169 253 253
fair value not reliably determinable 3 420 – 303 –
Customer-fi nancing receivables 51,193 51,948 64,466 65,365
Other loans to external parties and other interest-bearing receivables 3,047 3,075 1,355 1,318
Marketable securities 25,955 25,955 28,834 28,834
Total 81,285 81,147 95,211 95,770
Liabilities
Long-term bond loans and other loans
5 40,411 41,684 43,761 44,338
Short-term bank loans and other loans
5 21,396 21,584 31,589 31,472
Total 61,807 63,268 75,350 75,810
Derivative instruments
4
Outstanding derivative contracts for hedging of commercial currency risks 176 1,371 – –
Outstanding commodity contracts – (25) – –
Outstanding derivative contracts for hedging of
fi nancial currency risks and interest rate risks 252 924 – –
1 This table only includes a comparison between carrying values and fair val-
ues for interest bearing balance sheet items and derivative instruments. For
non interest bearing fi nancial instruments, such as accounts receivable and
trade payables, the carrying values are considered to be equal to the fair
values.
2 Pertains mainly to Volvo’s investment in Deutz AG. For the purpose of these
disclosures, fair values of listed shares are based upon quoted market
prices at the end of the period.
3 No single investment represents any signifi cant amount.
4 All derivative instruments has been booked to fair value in the balance
sheet in accordance with IAS 39.
5 Including basis adjustment booked at the IFRS transition.
Notes to consolidated fi nancial statements