Volvo 2008 Annual Report Download - page 107

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103
Financial information 2008
Note 22 Cash and cash equivalents
Note 23 Shareholders’ equity
Note 21 Marketable securities
Note 20 Other short-term receivables
2007 2008
Cash in banks 10,262 10,889
Time deposits in banks 4,282 6,823
Total 14,544 17,712
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
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
2007 2008
Government securities 778 298
Banks and fi nancial institutions 6,293 504
Real estate fi nancial institutions 9,419 5,100
Total 16,490 5,902
2007 2008
Accounts receivable 30,504 30,523
Prepaid expenses and accrued income 2,855 3,032
VAT receivables 2,884 3,348
Loans to external parties 403 121
Other fi nancial receivables12,903 4,791
Other receivables 4,868 5,697
Total, after deduction of valuation allowances for doubtful accounts receivable 44,417 47,512
1 Fair value fi nancial derivatives.
Change of valuation allowances for doubtful accounts receivable 2007 2008
Balance sheet, December 31, preceding year 939 923
New valuation allowance charged to income 152 357
Reversal of valuation allowance charged to income (231) (149)
Utilization of valuation allowance related to actual losses (70) (172)
Acquired and divested operations 114 3
Translation differences 16 287
Reclassifi cations, etc. 3 500
Balance sheet, December 31 923 1,749
See notes 36 and 37 for fi nancial instruments and goals and policies in fi nancial risk management.
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 2008 was
SEK 5.50 (25.00) per share or total 11,149.6 (10,127.5).
Unrestricted equity in the Parent Company at December 31, 2008
amounted to 27,678 (22,254).
Cash and cash equivalents at December 31, 2008, include SEK 0.7 billion restricted for use by the Volvo Group and SEK 2.7 billion that are
liquid funds in countries where exchange controls or other legal restrictions apply.