Volvo 2007 Annual Report Download - page 164
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Defi nitions
Basic earnings per share
Income for the period attributable to shareholders of the parent com-
pany divided by the weighted average number of shares outstanding
during the period.
Capital expenditures
Capital expenditures include investments in property, plant and equip-
ment, intangible assets and assets under operating leases. Investments
in fi xed assets included in the Group’s cash-fl ow statement include only
capital expenditures that have reduced the Group’s liquid funds during
the year.
Cash-fl ow
Combined changes in the Group’s liquid funds during the fi scal year.
Changes inliquid funds are specifi ed with reference to changes in oper-
ations, operating activities, changes depending on investments in
equipment, fi xed assets etc and fi nancing acitivites such as changes in
loans and investments.
Diluted earnings per share
Diluted earnings per share is calculated as income for the period attrib-
utable to the Parent Company’s shareholders divided by the average
number of shares outstanding plus the average number of shares that
would be issued as an effect of ongoing share-based incentive pro-
grams and employee stock option programs.
Equity ratio
Shareholders’ equity divided by total assets.
Interest coverage
Operating income plus interest income and similar credits divided by
interest expense and similar charges.
Joint ventures
Companies over which the Company has joint control together with one
or more external parties.
Net fi nancial position
Cash and cash equivalents, marketable securities and interest-bearing
short- and long-term receivables reduced by short- and long-term inter-
est-bearing loans and provisions for post-employment benefi ts.
Operating margin
Operating income divided by net sales.
Return on shareholders’ equity
Income for the period divided by average shareholders’ equity.
Self-fi nancing ratio
Cash-fl ow from operating activities (see Cash-fl ow statement) divided
by net investments in fi xed assets and leasing assets as defi ned in the
cash-fl ow statement.