Electrolux 1998 Annual Report Download - page 48

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Notes to the financial statements
46
Electrolux Annual Report 1998
Note 23. EMPLOYEES AND PAYROLL COSTS
The average number of employees in 1998 was 99,322 (105,950), of which 67,687 (73,031) were men and 31,635 (32,919) were
women. For specification of number of employees by country, see page 56. 1998 1997
Salaries and Employer Salaries and Employer
Salaries, other remuneration and employer contributions (SEKm) remuneration contributions remuneration contributions
Parent company 1,140 664 1,087 563
(of which pension costs) (160)* (155)*
Subsidiaries 17,366 5,124 18,796 5,622
(of which pension costs) (481) (415)
Group total 18,506 5,788 19,883 6,185
(of which pensions costs) (641) (570)
*Of which SEK 10m (16) refers to pension costs for the current company President and his predecessors.
1998 1997
Salaries and remuneration by geographical area, Boards and Other Boards and Other
for Board members, etc. and other employees (SEKm) Presidents employees Presidents employees
Sweden
Parent company 14 1,126 9 1,078
Other 46 1,005 55 1,191
Total Sweden 60 2,131 64 2,269
EU excluding Sweden 154 8,973 165 9,862
Rest of Europe 38 888 15 891
North America 73 4,871 33 4,990
Latin America 22 645 15 791
Asia 20 479 24 617
Africa 1 54 1 38
Oceania 3 94 4 104
Total outside Sweden 311 16,004 257 17,293
Group total 371 18,135 321 19,562
Note 21. ACCRUED EXPENSE Group Parent company
AND PREPAID INCOME (SEKm) 1998 1997 1998 1997
Accrued holiday pay 894 1,026 176 167
Other accrued payroll costs 1,150 1,151 155 118
Accrued interest expense 394 484 240 293
Prepaid income 1,190 1,268 46
Accrued expense 3,536 2,637 236 147
Total 7,164 6,566 811 731
Group Parent company
Note 22. CONTINGENT LIABILITIES (SEKm) 1998 1997 1998 1997
Discounted bills 72 109 ––
Accounts receivable, with recourse 946 1,529 ––
Guarantees and other commitments
On behalf of subsidiaries ––3,744 5,970
Other 476 344 94 49
Capital value of pension commitments in excess of reported liability 164 101 29 23
Total 1,658 2,083 3,867 6,042
In addition to the above contingent
liabilities, guarantees for fulfillment of
contractual undertakings are given as
part of the Group’s normal course of
business. There was no indication at
year-end that payment will be required
in connection with any contractual
guarantees.