Electrolux 2005 Annual Report Download - page 71

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Notes
Electrolux Annual Report 2005 67
Note 18 Other reserves
Other reserves
Available-for- Currency
sale Hedging translation Total Other
instruments reserve reserve reserves
Opening balance, Jan. 1, 2004 — — — —
Exchange differences on translation of foreign operations — — –489 –489
Closing balance, Dec. 31, 2004 — — –489 –489
Effects of adoption of IAS 32 and IAS 39
Hedging reserve — 7 — 7
Total effects of adoption of IAS 32 and IAS 39 — 7 — 7
Opening balance, Jan. 1, 2005, after changes in Accounting Principles — 7 –489 –482
Available for sale instruments
Gain/loss taken to equity 24 — — 24
Cash-flow hedges
Gain/loss taken to equity — 16 — 16
Transferred to profit and loss on sale — –7 — -7
Exchange differences on translation of foreign operations
Revaluation of opening balance — — 2,520 2,520
Equity hedge — — –615 –615
Translation difference — — 197 197
Net income recognized directly in equity 24 9 2,102 2,135
Closing balance, Dec. 31, 2005 24 16 1,613 1,653
Note 19 Assets pledged for liabilities
to credit institutions
Group Parent Company
2005 2004 2005 2004
Real-estate mortgages 107 126 — —
Other 11 11 5 5
Total 118 137 5 5
Note 20 Share capital and
number of shares
Share capital
Value at par
On December 31, 2005, the share capital comprised
9,502,275 A-shares, par value SEK 5 48
299,418,033 B-shares, par value SEK 5 1,497
Total 1,545
Number of shares
Owned by Owned by other
Electrolux shareholders Total
Shares, Dec. 31, 2004
A-shares — 9,502,275 9,502,275
B-shares 17,739,400 281,678,633 299,418,033
Sold shares
A-shares — — —
B-shares –1,918,161 1,918,161 —
Shares, Dec. 31, 2005
A-shares — 9,502,275 9,502,275
B-shares 15,821,239 283,596,794 299,418,033
Note 20 continued
The share capital of AB Electrolux consists of A-shares and B-shares.
An A-share entitles the holder to one vote and a B-share to one-tenth
of a vote. All shares entitle the holder to the same proportion of assets
and earnings, and carry equal rights in terms of dividends.
As of December 31, 2005, Electrolux had repurchased 15,821,239
(17,739,400) B-shares, with a total par value of SEK 79m (89). The
average number of shares during the year has been 291,377,974
(298,314,025) and the average number of shares diluted has been
293,239,990 (298,627,079). The average number of shares is a
weighted average number of shares outstanding during the year,
after repurchase of own shares.
Note 21 Untaxed reserves,
Parent Company
Dec. 31, 2005 Appropriations Dec. 31, 2004
Accumulated depreciation
in excess of plan on
Brands 547 20 527
Machinery and equipment 205 –14 219
Buildings 1 –19 20
Other financial reserves 3 1 2
Total 756 –12 768
Other financial reserves include fiscally permissible appropriations
referring to receivables in subsidiaries in politically and economically
unstable countries.