Volvo 2009 Annual Report Download - page 95

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Note 22 Cash and cash equivalents
Note 23 Shareholders’ equity
Note 21 Marketable securities
2008 2009
Cash in banks 10,889 13,540
Bank certificates 1 –2,999
Time deposits in banks 6,823 4,695
Total 17,712 21,234
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 SEK 2,554 million
and was based on 425,684,044 registered shares. During 2007, fol-
lowing a decision at the Annual General Meeting, a 6:1 share split with
automatic 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 SEK 20,255 million was distributed to
Volvo’s shareholders. The decision also included a bonus issue with-
Marketable securities consist mainly of interest-bearing securities, distributed as shown below:
2008 2009
Government securities 298 147
Banks and financial institutions 504 3,387
Real estate financial institutions 5,100 13,142
Total 5,902 16,676
out issuance of new shares through the transfer of 426 from unre-
stricted shareholders’ 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 2009 was
SEK 2.00 (5.50) per share or total of SEK 4,054.8 million (11,149.6).
Unrestricted equity in the Parent Company at December 31, 2009
amounted to SEK 21,462 million (27,678).
The cumulative amount of the exchange difference deferred to
equity relating to assets held for sale amount to positive SEK 60 million.
1 Bank certificates which matures within three months from acquisition.
Change of valuation allowances for doubtful accounts receivable 2008 2009
Balance sheet, December 31, preceding year 923 1,749
New valuation allowance charged to income 357 638
Reversal of valuation allowance charged to income (149) (274)
Utilization of valuation allowance related to actual losses (172) (664)
Acquired and divested operations 3(7)
Translation differences 287 (88)
Reclassifications, etc. 500 (53)
Balance sheet, December 31 1,749 1,301
See notes 36 and 37 for financial instruments and goals and policies in financial risk management.
Cash and cash equivalents at December 31, 2009, include SEK 1.2
billion (0,7) restricted for use by the Volvo Group and SEK 5.3 billion
(2,7) that are liquid funds in countries where exchange controls or
other legal restrictions apply.
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