Volvo 2008 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2008 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.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

95
Financial information 2008
Note 8 Other operating income and expenses
2007 2008
Gains/losses on currency related forward and options contracts 587 (1,375)
Exchange rate differences on trade receivables and payables (38) 999
Gains/losses on divestment of group companies 324 471
Change in allowances and write-offs for doubtful receivables, customer fi nancing (121) (484)
Change in allowances and write-offs for doubtful receivables, other 18 (282)
Expenses for closing Volvo operations in Bromma, Sweden (62) –
Damages and litigations (61) (269)
Restructuring cost (44) (554)
Volvo profi t sharing program (436) (109)
Other income and expenses (4) (312)
Total 163 (1,915)
Note 9 Income from investments in associated companies
Income from investments in associated companies are specifi ed
below:
Income/loss 2007 2008
Nissan Diesel Niigata Sales Co – 13
JV Fonderie Venissieux 7 10
Merkavim Metal Works Ltd 11 8
Thomas Hardie Commercials Ltd 30
Nissan Diesel to April 1, 2007 76 –
Other companies 11 (16)
Subtotal 108 15
Revaluation and write-down of shares
Other companies (3) 0
Subtotal (3) 0
Gains (losses) on divestment of
shares in associated companies
Petro Stopping Centers Holdings LP 325 10
Subtotal 325 10
Total income (loss) from investments
in associated companies 430 25
Note 10 Income from other investments
Dividends received 2007 2008
Deutz AG 0 30
Holdings of Nissan Diesel 8 12
Other 5 15
Subtotal 13 57
Revaluation and write-downs of shares
Vindic Holding AB – (20)
Holdings of Volvo Technology Transfer1(11) (4)
Other (2) (9)
Subtotal (13) (33)
Gain on divestment of shares
Volverkinvest AB – 23
Holdings of Volvo Technology Transfer144 17
Småföretagarinvest 46 –
Other 35
Subtotal 93 45
Total 93 69
1 A Volvo venture-capital company.
Note 11 Other fi nancial income and expenses
SEK M 2007 2008
Financial instruments at fair value through profi t or loss (389) (1,027)
Exchange rate gains and losses on fi nancial assets and liabilites (15) (12)
Financial income and expenses related to taxes (42) 24
Costs for Treasury function, credit facilities, etc (58) (62)
Total (504) (1,077)
For further information regarding fi nancial instruments please see note 37.