Volvo 2012 Annual Report Download - page 130

Cash and cash equivalents include high liquid interest-bearing securities
that are considered easily convertible to cash. Interest-bearing securities
that fail to meet this definition are recognized as marketable securities.
Marketable securities
Marketable securities comprise mainly interest-bearing securities, distributed
as shown below:
Dec 31,
2012 Dec 31, 2011
Government securities 131 136
Banks and financial institutions 494 521
Real estate financial institutions 2,505 6,205
B/S Marketable securities
as of December 31 3,130 6,862
Cash and cash equivalents
Dec 31,
2012 Dec 31, 2011
Cash in banks 22,712 21,206
Bank certificates11,019 1,492
Time deposits in banks 2,028 7,681
B/S Cash and cash equivalents as of
December 31 25,759 30,379
1 Bank certificates which matures withinthree months of the date of acquisition.
Cash and cash equivalents as of December 31, 2012, include SEK 0.2
billion (0.7) that is not available for use by the Volvo Group and SEK 9.4
billion (9.3) where other limitations exist, mainly liquid funds in countries
where exchange controls or other legal restrictions apply. With that it is
not possible to immediately use the liquid funds in other parts of the Volvo
Group, however normally there is no limitation for use for the Volvo Group’s
operation in the respective country.
ACCOUNTING POLICY
NOTE 18
MARKETABLE SECURITIES AND LIQUID FUNDS
Earnings per share is calculated as income for the period, attributable to
the Parent Company’s shareholders, divided by the Parent Company’s
average number of shares outstanding for the fiscal year. Diluted earnings
per share is calculated as income for the period attributable to the Parent
Company’s shareholders divided by the average number of shares out-
standing plus the average number of shares that would be issued as an
effect of ongoing share-based incentive programs. If during the year there
were potential shares redeemed or expired during the period, these are
also included in the average number of shares used to calculate the earn-
ings per share after dilution.
The share capital of the Parent Company is divided into two series of
shares, A and B. Both series carry the same rights, except that each
Series A share carries the right to one vote and each Series B share carries
the right to one tenth of a vote. The shares quota value is SEK 1.20.
Cash dividend decided by the Annual General Meeting 2012 was SEK
3.00 (2.50) per share or total of SEK 6,082.3 million (5,068.6).
During 2012 AB Volvo transferred, free of consideration, 250,922 treas-
ury B-shares, with a total quota value of 301,106.40 SEK, to participants of
Volvo Group’s long-term, share-based incentive program for Group and senior
executives executives in the Volvo Group, as accelerated allotment. The
transferred treasury shares represent an insignificant portion of the share
capital of AB Volvo.
Unrestricted equity in the Parent Company as of December 31, 2012
amounted to SEK 31,346 million (32,268).
Information regarding
number of shares Dec 31, 2012 Dec 31, 2011
Own Series A shares 20,728,135 20,728,135
Own Series B shares 80,013,209 80,264,131
Total own shares 100,741,344 100,992,266
Own shares in % of total
registered shares 4.73 4.74
Outstanding Series A shares 525,816,240 642,766,887
Outstanding Series B shares 1,501,862,636 1,384,661,067
Total outstanding shares 2 , 02 7, 67 8, 876 2 ,02 7,42 7,9 5 4
Total registered Series A shares 546,544,375 663,495,022
Total registered Series B shares 1,581,875,845 1,464,925,198
Total registered shares 2,128,420,220 2,128,420,220
Average number of
outstanding shares 2,027,521,257 2,027,427,172
ACCOUNTING POLICY
NOTE 19
EQUITY AND NUMBER OF SHARES
NOTES TO FINANCIAL STATEMENTS
FINANCIAL INFORMATION 2012
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