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66 ELECTROLUX ANNUAL REPORT 2001
A. Consolidated net income, SEKm 2001 2000 1999
Net income as reported in the consolidated income statement 3,870 4,457 4,175
Adjustments before taxes:
Acquisitions 304 45 42
Restructuring and other provisions –296 391 –189
Pensions 266 –228 –41
Financial instruments –33 4 –35
Capitalization of computer software 17 51 —
Securities –48 — —
Stock-based compensation 34 — —
Taxes on the above adjustments 13 –68 68
Other taxes –444 212 33
Approximate net income according to US GAAP 3,683 4,864 4,053
Approximate net income per share in SEK according to US GAAP 10.85 13.55 11.05
No. of shares1) 340,064,997 359,083,955 366,169,580
1)Weighted average number of shares outstanding through the year, after repurchase of own shares.
B. Comprehensive income, SEKm 2001 2000 1999
Approximate net income according to US GAAP 3,683 4,864 4,053
Comprehensive income recognized in accordance with Swedish accounting principles
35 –2,632 –1,775
Comprehensive income recognized for US GAAP adjustments:
Translation differences –49 –42 8
Pensions –18 –10 –2
Financial instruments –535 — —
Securities —–111
Revaluation of assets –140 — –1
Approximate comprehensive income according to US GAAP 2,976 2,179 2,294
C. Equity, SEKm 2001 2000 1999
Equity as reported in the consolidated balance sheet 28,864 26,324 25,781
Adjustments before taxes:
Acquisitions –711 –979 –984
Restructuring and other provisions 545 841 448
Pensions –220 –437 –187
Financial instruments –607 –39 –43
Capitalization of computer software 68 51 —
Securities —4846
Revaluation of assets –159 –19 –19
Stock-based compensation 34 — –—
Taxes on the above adjustments –93 –124 –66
Other taxes — 444 237
Approximate equity according to US GAAP 27,721 26,110 25,213
D. Balance sheet, SEKm
The table below summarizes the consolidated balance sheets prepared
in accordance with Swedish accounting principles and US GAAP.
According to According to
Swedish principles US GAAP
2001 2000 1999 2001 2000 1999
Intangible assets 5,159 3,993 3,298 4,565 3,086 2,339
Tangible assets 22,526 22,388 20,894 22,351 22,349 20,851
Financial assets 4,666 3,299 3,859 4,557 3,510 4,076
Current assets 62,096 57,609 53,593 63,193 59,043 57,669
Total assets 94,447 87,289 81,644 94,666 87,988 84,935
Equity 28,864 26,324 25,781 27,721 26,110 25,213
Minority interests 699 810 825 699 810 825
Provisions for pensions
and similar commitments 4,095 4,048 3,972 4,429 4,329 4,160
Other provisions 8,341 6,629 5,699 7,796 5,788 5,251
Financial liabilities 22,914 25,148 23,440 23,494 26,621 27,559
Operating liabilities 29,534 24,330 21,927 30,527 24,330 21,927
Total equity and liabilities 94,447 87,289 81,644 94,666 87,988 84,935
Note 27 continued
Notes to the financial statements
The following is a summary of the approximate effects that appli-
cation of US GAAP would have on consolidated net income, equity and the balance sheet. Certain amounts for 2000 and 1999
have been reclassified to conform with the 2001 presentation.