Volvo 2011 Annual Report Download - page 137

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Holdings of shares and participations are specified in AB Volvo’s holding of shares. Changes in holdings of shares and participations are shown below.
Group companies Non-Group companies
2011 2010 2011 2010
Balance sheet, December 31, previous year 59,429 57,062 2,498 2,363
Acquisitions/New issue of shares 94 – 508 87
Divestments (3) (3,493) – 0
Shareholder contributions – 5,879 – –
Write-downs/participations in partnerships (60) (19) 106 (124)
Revaluation of shares in listed companies – – (159) 172
Balance sheet, December 31 59,460 59,429 2,953 2,498
Shares and participations in Group companies
During 2011 AB Volvo acquired total shares in VFS Latvia SIA to a value
of 9. Shares were also acquired in Volvo Lastvagnar AB, Volvo Bussar AB
and AB Volvo Penta by total 85 from Volvo Italia SpA. AB Volvo conse-
quently has got 100% hold in these companies.
Write-down was made at year-end of the holding of shares in Volvo
Italia SpA with 60.
Volvo Automotive Holding BV with the book value of 3 has been liquidated.
During 2010 AB Volvo transferred the company´s holding of preference
shares in UD Trucks Corporation, with the book value of 3,493, as share-
holders’ contribution to Volvo Group Japan Corporation. Shareholders’
contribution was also made to Kommersiella Fordon Europa AB with
1,801.
Shares and participations in non-Group companies
During 2011 AB Volvo aquired 49% of the hold in CPAC Systems AB from
Volvo Technology Transfer AB by 367. A capital contribution of 137 (76)
was given to Blue Chip Jet II HB. The book value of the participations in
the partnerships Blue Chip Jet I HB and Blue Chip Jet II HB increased
during the year by a net of 106 (neg 113).
The revaluation of AB Volvo’s ownership in the listed company Deutz
AG has decreased the value by 159, recognized in other comprehensive
income (previous year increase by 172).
Other shares and participations include the direct and indirect holdings
of Volvo Eicher Commercial Vehicles Ltd. (VECV) for total amount of
1,848. In the consolidated accounts of the Volvo group, VECV is reported
as a joint venture and consolidated according to the proportionate method.
The indirect ownership is an effect of the acquisition of 8.1% of Eicher
Motors Ltd., which is the other venturer of VECV. These shares are not
separately valued as they form a part of the indirect ownership in VECV.
2011 2010
Accounts receivable 46 3
Prepaid expenses and accrued income 268 226
Other receivables 187 32
Total 501 261
The composition of untaxed reserves Value in balance
sheet 2011 Value in balance
sheet 2010
Accumulated additional depreciation
Land 3 3
Machinery and equipment 1 1
Total 4 4
The valuation allowance for doubtful receivables amounted to 3 (4) at the
end of the year.
INVESTMENTS IN SHARES AND PARTICIPATIONS
13
NOTE
OTHER CURRENT RECEIVABLES
14
NOTE
UNTAXED RESERVES
15
NOTE
133