Volvo 2007 Annual Report Download - page 144
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Please find page 144 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.Parent Company AB Volvo
140 Financial information 2007
Notes and comments
Note 13 Untaxed reserves
Note 14 Provisions for pensions
Note 12 Other short-term receivables
Value in Value in
balance sheet Allocations balance sheet
The composition of, and changes in, untaxed reserves 2006 2007 2007
Tax allocation reserve 2,000 1,230 3,230
Accumulated additional depreciation
Land 3 – 3
Machinery and equipment 1 0 1
Total 2,004 1,230 3,234
Provisions for pensions and similar benefi ts correspond to the actu-
arially calculated value of obligations not insured with third parties or
secured through transfers of funds to pension foundations. The
amount of pensions falling due within one year is included. AB Volvo
has insured the pension obligations with third parties. Of the amount
reported, 0 (0) pertains to contractual obligations within the frame-
work of the PRI (Pension Registration Institute) system.
The Volvo Pension Foundation was formed in 1996. Plan assets
amounting to 224 were contributed to the foundation at its formation,
corresponding to the value of the pension obligations at that time.
Since its formation, net contributions of 25 have been made to the
foundation.
AB Volvo’s pension costs amounted to 96 (105).
The accumulated benefi t obligation of all AB Volvo’s pension obli-
gations at year-end 2007 amounted to 590, which has been secured
in part through provisions for pensions and in part through funds in
pension foundations. Net asset value in the Pension Foundation,
marked to market, accruing to AB Volvo was 66 higher than the
corresponding pension obligations.
2006 2007
Accounts receivables 17 26
Prepaid expenses and accrued income 35 180
Other receivables 37 4
Total 89 210
The valuation allowance for doubtful receivables amounted to 5 (5) at
the end of the year.