Volvo 2012 Annual Report Download - page 115

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Income from investments in associated companies
Income/loss 2012 2 011
UD TrucksNiigata Co 8 5
JV Fonderie Venissieux 2 4
Merkavim Metal Works Ltd 917
Blue Chip Jet I & II HB 1 (46)
Holdings of Volvo Group Venture Capital (13) (6)
Other companies 3 2
Subtotal 10 (24)
Revaluation and write-down of shares
Blue Chip Jet I & II HB (19) –
Holdings of Volvo Group Venture Capital (1) (48)
Other companies (12) (4)
Subtotal (32) (52)
Gains (losses) on divestment of shares in
associated companies
Holdings of Volvo Group Venture Capital – (5)
Subtotal –(5)
I/S Total income (loss) from investments in
associated companies (23) (81)
Changes in Volvo Group’s investments
in associated companies 2012 2011
Investments in associated companies as of
December 31, preceding year 684 684
Acquisitions and divestments 1,102 111
Write-downs –(52)
Capital contribution 715
Share of income in associated companies 10 (24)
Revaluation of shares to fair value (32) –
Translation differences (27) 1
Dividends (8) (35)
Reclassifications 308 (16)
Other 1 –
B/S Investments in associated companies
as of December 31 2,045 684
Other shares and participations
The carrying amount of the Volvo Group’s holding of shares and participations
in other companies as of December 31, 2012, is disclosed in the table below.
Holding of shares
in listed companies
Dec 31,
2012
Percentage
holding
Dec 31,
2012
Carrying
value
Dec 31,
2011
Carrying
value
Deutz AG, Germany1– – 299
Nippon Express Co.,Ltd., Japan 0.4 116 93
TBK Co.,Ltd., Japan 6.7 69 61
Sankyu Inc., Japan 0.5 42 44
Senko Co.,Ltd., Japan 0.9 35 32
Yamato Holdings Co.,Ltd., Japan 0.1 23 25
Tonami Transportation Co.,Ltd., Japan 1.1 15 15
Fukuyama Transporting Co.,Ltd., Japan 0.2 14 16
Holdings in other listed companies –33 50
Holding of shares in listed
companies 347 635
Holding of shares in non-listed
companies2498 555
B/S Other shares and participations 845 1,190
1 In 2012 an additional 18% of the shares in Deutz AG was acquired and thereby
the company is recognized as an associated company.
2 Unlisted shares and participations, for which a fair value cannot reasonably be
determined, are measured at cost less any impairment losses.
Income from other shares and participations
Dividends received 2012 2011
Deutz AG – 2
Holdings in Japanese companies 16 13
Other 4 6
Subtotal 20 21
Write-downs of shares
Holdings of Volvo Group Venture Capital (75) (43)
Holdings in Japanese companies (14) (226)
Other –(1)
Subtotal1(89) (270)
Gain on divestment of shares
Holdings of Volvo Group Venture Capital 12 11
Holdings in Japanese companies (1) 5
Other 11 8
Subtotal 22 24
I/S Income from other investments (47) (225)
1 Write-downs of shares refer mainly to financial assets available for sale for
which a reliable market value can be calculated.
Changes in Volvo Group’s holding of other
shares and participations 2012 2011
Holding of other shares and participations as of
December 31, preceding year 1,190 1,414
Change in Group structure –(19)
Acquisitions and divestments 93 (19)
Write-downs –(43)
Capital contribution 6 8
Revaluation of shares to fair value (89) (203)
Translation differences (87) 32
Reclassifications (308) 16
Other 40 4
B/S Holding of other shares and participa-
tions as of December 31 845 1,190 111