Volvo 2006 Annual Report Download - page 147
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Financial information 2006 143
Note 9 Allocations
2004 2005 2006
Allocation to additional depreciation (1) 0 0
Tax allocation reserves 1,525 – (2,000)
Total 1,524 0 (2,000)
Note 7 Interest income and expenses
Interest income and similar credits amounting to 56 (114; 294),
included interest in the amount of 56 (112; 289) from subsidiaries
and interest expenses and similar charges totaling 67 (31; 238),
included interest of 61 (31; 213) to subsidiaries.
In 2004 interest-rate swaps were included in interest income with
53 and in interest expenses with 112. As from 2005 these are dis-
closed net and are included in interest expenses with 1 (3).
Note 5 Income from investments in associated companies
Income from associated companies that are reported in the Group accounts in accordance with the equity method amounted to 7 and
pertains to a dividend from Nissan Diesel. The participation in Blue Chip Jet HB amounts to 0 (0; neg. 1).
Note 6 Income from other investments
In 2004 revaluation of shareholdings amounted to 820, whereof
reversal of previous year’s write-down of Scania AB, 915 and write-
down of Henlys Group Plc, 95. Divestment of total shares in Bilia AB
resulted in a capital gain of 28.
Note 4 Income from investments in Group companies
Of the income reported, 399 (9,161; 101) pertain to dividends from
Group companies. Of the dividends, 300 pertain to anticipated divi-
dend from Volvo Financial Services AB. The shares in Volvo Informa-
tion Technology AB have been written down by 32 and the shares in
Kommersiella Fordon Europa AB have been written down by 160. In
2005, the shares in Volvo Global Trucks AB were written down by 8,420.
Transfer price adjustments and Group contributions total a net of
8,721 (5,360; 5,673). The redemption of the preference shares in
VNA Holdning Inc has resulted in a capital loss of 363. In 2005, the
sale of total shares in Celero Support AB resulted in a capital gain
of 518.
Note 3 Other operating income and expenses
Other operating income and expenses include profi t sharing payments to employees in the amount of 2 (1; 0).
Note 8 Other fi nancial income and expenses
Other fi nancial income and expenses include exchange rate differ-
ences on loans, guarantee commissions from subsidiaries, costs for
confi rmed credit facilities as well as costs of having Volvo shares
registered on various stock exchanges. In 2004 repayment of inter-
est and residual taxes regarding a judgement in the Administrative
court of appeal and expenses for distribution of the shares in Ainax
AB to Volvo’s shareholders are included. Exchange differences on
loans have been recounted for year 2004 due to new accounting
principles. See Note 1 Accounting principles for more information.