Volvo 2012 Annual Report Download - page 119

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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 Volvo Group within an
amount of 745 (770).
Other operating income and expense 2012 2 011
Gains/losses on divestment of Group companies1596 (19)
Write down of assets held for sale – (54)
Reversal of write down of assets held for sale – 60
Change in allowances and write-offsfor doubtful receivables, customer financing (640) (682)
Change in allowances and write-offsfor doubtful receivables, other (105) (88)
Damages and litigations (175) (227)
Restructuring costs2(1,524) (94)
Volvo profit sharing program (200) (523)
Other income and expenses (112) (22)
I/S Total (2,160) (1,649)
1 Gains/losses on divestment of Group companies include capital gain from the sale of Volvo Aero of 568.
2 Restructuring costs are mainly related to restructuring and efficiency programs in Europe and Japan.
Read more regarding the company’s management of credit risk and credit
reserves in Note 4.
NOTE 8
OTHER OPERATING INCOME AND EXPENSES
The market values of derivatives utilized to eliminate interest-rate exposure
in the customer-financing portfolio are reported in Other financial income
and expenses. During the year, these had a positive impact in the Income
Statement of 8 (544).
Other financial income and expense 2012 2 011
Financial instruments at fair value
through profit or loss 8544
Exchange rate gains and losses
on financial assets and liabilities (9) 25
Financial income and expenses
related to taxes (34) 18
Costs for Treasury function, credit facilities, etc (266) (290)
I/S Total1(301) 297
1 Other financial income and expenses attributable to financial amounted to neg 1
(pos 569).
Refer to Note 30 for Information regarding Financial Instruments.
NOTE 9
OTHER FINANCIAL INCOME AND EXPENSES
115