Volvo 2007 Annual Report Download - page 112
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Please find page 112 of the 2007 Volvo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.The Volvo Group
108 Financial information 2007
Notes to consolidated fi nancial statements
Note 20 Other short-term receivables
Note 21 Marketable securities
Note 22 Cash and cash equivalents
Note 23 Shareholders’ equity
2006 2007
Accounts receivable 23,251 30,504
Prepaid expenses and accrued income 2,263 2,855
VAT receivables 2,280 2,884
Loans to external parties 537 403
Other fi nancial receivables1 2,344 2,903
Other receivables 3,724 4,868
Total, after deduction of valuation allowances for doubtful accounts receivable 34,399 44,417
1 Fair value fi nancial derivatives.
Change of valuation allowances for doubtful accounts receivable 2007
Balance sheet, December 31, preceding year 939
New valuation allowance charged to income 152
Reversal of valuation allowance charged to income (231)
Utilization of valuation allowance related to actual losses (70)
Acquired and divested operations 114
Translation differences 16
Reclassifi cations, etc. 3
Balance sheet, December 31 923
See notes 36 and 37 for fi nancial instruments and goals and policies in fi nancial risk management.
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
2006 2007
Government securities 2,169 778
Banks and fi nancial institutions 7,101 6,293
Real estate fi nancial institutions 11,072 9,419
Total 20,342 16,490
2006 2007
Cash in banks 6,702 10,262
Time deposits in banks 4,055 4,282
Total 10,757 14,544
The share capital of the Parent Company is divided into two series of
shares: A and B. Both series carry the same rights, except that each
Series A share carries the right to one vote and each Series B share
carries the right to one tenth of a vote. The shares quota value is SEK
1.20.
At the end of 2006 share capital amounted to 2,554 and was
based on 425,684,044 registered shares. During 2007, following a
decision at the Annual General Meeting, a 6:1 share split with auto-
matic redemption was carried out, in which the sixth share was
redeemed by AB Volvo for SEK 25.00 per share. Together with the
ordinary dividend a total of 20,255 was distributed to Volvo’s share-
holders. The decision also included a bonus issue without issuance of
new shares through the transfer of 426 from unrestricted sharehold-
ers’ equity to share capital which then was restored to the same level
as prior to the redemption procedure. Following these transactions
Volvo has a total of 2,128,420,220 registered shares.
Cash dividend decided by the Annual General Meeting 2007 was
SEK 25.00 (16.75) per share or total 10,127.5 (6,775).
Unrestricted equity in the Parent Company at December 31, 2007
amounted to 22,254 (39,345).