Volvo 2014 Annual Report Download - page 150

146
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 defi nition are recognized as marketable securities.
Marketable securities Dec 31,
2014 Dec 31, 2013
Government securities 789 387
Banks and fi nancial institutions 5,037 917
Real estate fi nancial institutions 1,485 1,287
B/S Marketable securities 7,312 2,591
Cash and cash equivalents Dec 31,
2014 Dec 31, 2013
Cash in banks 25,627 23,765
Bank certifi cates1340 456
Time deposits in banks 276 2,747
B/S Cash and cash equivalents 26,242 26,968
1 Bank certifi cates which matures within three months of the date of acquisition.
Cash and cash equivalents as of December 31, 2014, include SEK 0.2
billion (0.2) that is not available for use by the Volvo Group and SEK 6.1
billion (7.7) where other limitations exist, mainly liquid funds in countries
where exchange controls or other legal restrictions apply. Therefore 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 fi scal 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 car-
ries the right to one tenth of a vote. The shares’ quota value is SEK 1.20.
Cash dividend 2014, decided by the Annual General Meeting 2013,
was SEK 3.00 (3.00) per share or totally SEK 6,084.4 M (6,083.7).
During 2014 AB Volvo transferred, free of consideration, 1,238,755
treasury B-shares, with a total quota value of 1,486,506 SEK, to partici-
pants in the long-term share-based incentive program for Group and sen-
ior executives in the Volvo Group, as accelerated allotment. The trans-
ferred treasury shares represent an insignifi cant portion of the share
capital of AB Volvo.
During 2014 AB Volvo converted a total of 6,183,853 Series A shares
to Series B shares.
Unrestricted equity in the Parent Company as of December 31, 2014
amounted to SEK 28,395 M (24,693).
Read more in Note 27 about the Volvo Group share-based incentive
program.
Information regarding
number of shares Dec 31, 2014 Dec 31, 2013
Own Series A shares 20,728,135 20,728,135
Own Series B shares 78,353,598 79,592,353
Total own shares 99,081,733 100,320,488
Own shares in % of total registered
shares 4.66 4.71
Outstanding Series A shares 492,386,965 498,570,818
Outstanding Series B shares 1,536,951,522 1,529,528,914
Total outstanding shares 2,029,338,487 2,028,099,732
Total registered Series A shares 513,115,100 519,298,953
Total registered Series B shares 1,615,305,120 1,609,121,267
Total registered shares 2,128,420,220 2,128,420,220
Average number of
outstanding shares 2,028,414,477 2,027,915,094
ACCOUNTING POLICY
NOTE 19 EQUITY AND NUMBER OF SHARES
FINANCIAL INFORMATION 2014