Volvo 2011 Annual Report Download - page 101

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OTHER OPERATING INCOME AND EXPENSES
8
NOTE
Changes in provisions for doubtful accounts receivable and customer-
financing receivables are recognized in Other operating income and
expenses, which during the period impacted the Group in an amount of
770 (1,326).
2011 2010
Gains/losses on divestment of Group companies (19) (34)
Write down of assets held for sale (54) (65)
Reversal of write down of assets held for sale 60 –
Change in allowances and write-offsfor doubtful receivables, customer financing (682) (1,438)
Change in allowances and write-offsfor doubtful receivables, other (88) 112
Damages and litigations (227) (57)
Restructuring cost (94) 11
Volvo profit sharing program (523) (360)
Other income and expenses (22) (192)
Total (1,649) (2,023)
Read more regarding the company’s management of credit risk and credit
reserves in Note 4.
OTHER FINANCIAL INCOME AND EXPENSES
9
NOTE
The market values of derivatives utilized to eliminate interest-rate expo-
sure in the customer-financing portfolio are reported in Other financial
income and expenses. During the year, these had a positive impact of 544
(871) on earnings.
SEK M 2011 2010
Financial instruments at fair value
through profit or loss 544 871
Exchange rate gains and losses on financial
assets and liabilities225 (351)
Financial income and expenses related
to taxes 18 (20)
Costs for Treasury function, credit facilities, etc (290) (287)
Total1297 213
1 Other financial income and expenses attributable to financial instruments
amounted to 569 (520). For additional information regarding financial instruments,
refer to Note 30 Financial instruments.
2 Exchange-rate gains and losses on financial assets and liabilities for 2010,
includes an adverse effect of 274 for the devaluation in Venezuela.
97