Volvo 2010 Annual Report Download - page 67

Balance Sheets Volvo Group
Industrial Operations Customer Finance Eliminations Volvo Group
SEK M
Dec 31
2009
Dec 31
2010
Dec 31
2009
Dec 31
2010
Dec 31
2009
Dec 31
2010
Dec 31
2009
Dec 31
2010
Assets           
Non-current assets           
Intangible assets 41,532 40,613  96 101  0 0  41,628 40,714
Tangible assets           
Property, plant and equipment 55,208 54,169  72 72  0 0  55,280 54,242
Assets under operating leases 13,539 13,217  10,955 10,055  (4,106) (3,625)  20,388 19,647
Financial assets           
Shares and participation 2,025 2,080  19 18  0 0  2,044 2,098
Non-current customer-financing receivables 531 598  39,720 36,270  (538) (843)  39,713 36,025
Deferred tax assets 12,277 12,019  318 291  0 0  12,595 12,310
Prepaid pensions 2,038 1,636 10 12 0 0 2,049 1,648
Non-current interest-bearing receivables 1,095 941 0 204 (510) (379) 585 766
Other non-current receivables 3,033 3,401 42 41 (36) (24) 3,038 3,418
Total non-current assets 131,278 128,674 51,232 47,064 (5,190) (4,871) 177,320 170,868
Current assets 
Inventories 35,765 38,956  1,962 882  0 0  37,727 39,837
Current receivables           
Customer-financing receivables 836 830  42,443 36,897  (1,015) (1,064)  42,264 36,663
Tax assets 1,362 1,045  161 90  0 0  1,523 1,135
Interest-bearing receivables 1,215 1,071 66 1,283 (872) (2,012) 410 342
Internal funding 3,662 7,505 0 0 (3,662) (7,505) – –
Accounts receivable 20,877 24,332 460 101 0 0 21,337 24,433
Other receivables 11,459 11,561 1,701 1,352 (1,077) (1,056) 12,082 11,857
Non interest-bearing assets held for sale 1,684 136 – – – – 1,684 136
Interest-bearing assets held for sale 8 0  – –  – –  8 0
Marketable securities 16,655 9,735  21 32  0 0  16,676 9,767
Cash and cash equivalents 20,749 21,756  726 1,545  (241) (335)  21,234 22,966
Total current assets 114,272 116,928 47,540 42,182 (6,867) (11,970) 154,945 147,139
Total assets 245,550 245,602 98,772 89,246 (12,057) (16,841) 332,265 318,007
Shareholders’ equity and liabilities 
Equity attributable to the equity holders of the Parent Company 57,856 65,090  8,549 8,020  0 0  66,405 73,110
Minority interests 629 1,011  0 0  0 0  629 1,011
Total shareholders’ equity 58,485 66,101 8,549 8,020 0 0 67,034 74,121
Non-current provisions           
Provisions for post-employment benefits 8,021 7,478  30 32  0 0  8,051 7,510
Provisions for deferred taxes 1,858 3,026  1,780 1,496  0 0  3,638 4,522
Other provisions 6,277 5,785  80 150  2 1  6,360 5,936
Non-current liabilities        
Bond loans 49,191 38,767 0 0 0 0 49,191 38,767
Other loans 48,684 37,180 7,458 8,225 (107) (78) 56,035 45,327
Internal funding (30,908) (26,971) 32,758 25,927 (1,849) 1,044 – –
Other liabilities 11,762 11,172  479 389  (2,353) (2,330)  9,888 9,231
Current provisions 9,321 8,429  164 105  2 1  9,487 8,534
Current liabilities           
Loans 44,196 32,101  8,305 8,299  (876) (799)  51,626 39,601
Internal funding (32,273) (21,220)  36,457 33,643  (4,184) (12,423)  – –
Non interest-bearing liabilities held for sale 272 135 – – – – 272 135
Trade payables 35,754 47,111 201 139 0 0 35,955 47,250
Tax liabilities 369 1,571  254 161  0 0  623 1,732
Other liabilities 34,541 34,937  2,257 2,660  (2,692) (2,257)  34,105 35,341
Total shareholders’ equity and liabilities 245,550 245,602 98,772 89,246 (12,057) (16,841) 332,265 318,007
Contingent liabilities  9,607 11,003
SEK 0.1 billion compared to year-end 2009. Post-
employment benefits valued at SEK 7.3 billion were
reported outside the Volvo Group’s balance sheet.
For further information see Note 24.
At year-end, the equity ratio in the Industrial
Operations was 26.9% and in the Volvo Group
23.3%. Shareholder’s equity in the Volvo Group
amounted to SEK 74.1 billion at December 31, 2010.
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