Volvo 2006 Annual Report Download - page 107

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Summarized reconciliation of shareholders’ equity
SEK M 040101 041231 050101
Equity under Swedish GAAP 72,420 69,409 69,409
IFRS adjustments:
Capitalization and amortization of intangible assets 722 340 340
Minority interest 217 229 229
Non-amortization of goodwill 0 665 665
Post employee benefi ts (580) (473) (473)
Investments in listed companies (494)
Fair value gains and losses on derivatives for hedge of:
- Commercial cash fl ow 1,195
- Electricity contracts (25)
Consolidation of temporary investments (152) – –
Share based payments 0 14 14
Deferred taxes on IFRS adjustments (96) (29) (358)
Total adjustments to IFRS 112 746 1,094
Equity under IFRS 72,532 70,155 70,503
Summarized reconciliation of net income
SEK M 2004
Net income under Swedish GAAP 9,355
IFRS adjustments:
Capitalization and amortization of intangible assets (382)
Minority interest 40
Non-amortization of goodwill 684
Post-employment benefi ts 13
Consolidation of temporary investments 142
Deferred taxes on IFRS adjustments 55
Total adjustments to IFRS 552
Income for the period under IFRS 9,907
Summarized reconciliation of net fi nancial position
SEK bn 2004
Volvo Group excl VFS
Net fi nancial position at December 31, 2004 under Swedish GAAP 18.7
IFRS adjustments:
Post-employment benefi ts (0.5)
Derecognition of fi nancial assets (3.4)
Total adjustments to IFRS (3.9)
Net fi nancial position at January 1, 2005 under IFRS 14.8
Signifi cant differences between Swedish GAAP and IFRS
The most signifi cant differences between Swedish GAAP and IFRS for Volvo are further explained below
in the Equity- and net income reconciliation:
Financial information 2006 103