Electrolux 2005 Annual Report Download - page 86

Notes
82 Electrolux Annual Report 2005
Note 31 continued
IFRS transition effects on the consolidated
income statement for the full year 2004
Income Income
statement statement
before after
SEKm transition IFRS 2 IFRS 3 IAS 38 transition
Net sales 120,651 — — — 120,651
Gross operating income 29,645 — — –15 29,630
Operating income 4,714 –47 155 –15 4,807
Income after financial items 4,359 –47 155 –15 4,452
Income for the period 3,148 –32 155 –12 3,259
Income for the period
per share, basic, SEK 10.55 –0.11 0.52 –0.04 10.92
Balance sheet
A number of reclassifications have been made in the balance sheet to
comply with IFRS:
• The term Non-current assets is used instead of Fixed assets.
• The term Property, plant and equipment is used instead of Tangi-
ble assets.
• Derivatives with a maturity of less than one year are reported as
current assets or current liabilities, respectively, wheras deriva-
tives with a maturity of more than one year are reported as non-
current assets or non-current liabilities, respectively.
• Cash and cash equivalents consist of cash on hand, bank depos-
its and other short-term highly liquid investments with a maturity
of three months or less. Other liquid funds are reported under
short-term investments.
• Provisions expected to be paid within a year are reported as cur-
rent liabilities and provisions expected to be paid after more than
one year are reported as non-current liabilities.
• Total equity in the consolidated balance sheet includes minority
interests.
• Equity is reported split on Share capital, Other paid-in capital,
Other reserves and Retained earnings. The components of Other
reserves are reported in Change in consolidated equity.
IFRS transition effects on the consolidated
opening balance, January 1, 2004
Opening Opening
balance balance
before after
SEKm transition IFRS 2 IFRS 3 IAS 38 transition
Goodwill 3,500 — 31 — 3,531
Other intangible assets 1,282 — — 20 1,302
Deferred tax assets 2,988 –16 — — 2,972
Other non-current assets 17,049 — — — 17,049
Current assets 53,415 — — — 53,415
Total assets 78,234 –16 31 20 78,269
Equity (retained earnings) 25,887 37 31 16 25,971
Deferred tax liabilities 1,294 — — 4 1,298
Other provisions 4,427 –53 — — 4,374
Other non-current liabilities 16,737 — — — 16,737
Current liabilities 29,889 — — — 29,889
Total equity and liabilities 78,234 –16 31 20 78,269
IFRS transition effects on the consolidated
balance sheet, December 31, 2004
Balance Balance
before after
SEKm transition IFRS 2 IFRS 3 IAS 38 transition
Goodwill 3,160 — 175 — 3,335
Other intangible assets 1,917 — — 5 1,922
Deferred tax assets 2,937 –16 — — 2,921
Other non-current assets 17,445 — — — 17,445
Current assets 49,473 — — — 49,473
Total assets 74,932 –16 175 5 75,096
Equity (retained earnings) 23,420 37 175 4 23,636
Deferred tax liabilities 1,251 — — 1 1,252
Other provisions 4,961 –53 — — 4,908
Other non-current liabilities 11,792 — — — 11,792
Current liabilities 33,508 — — — 33,508
Total equity and liabilities 74,932 –16 175 5 75,096
Cash flow
Cash and cash equivalents in the consolidated cash-flow statement
consist of cash on hand, bank deposits and other short-term liquid
investments with a maturity of three months or less. Previously liquid
funds were used in the consolidated cash-flow statement, i.e., includ-
ing also other short-term liquid investments with a maturity of more
than three months. Previous periods have been restated. Cash and
cash equivalents, as compared to the old liquid funds measure,
decreased by SEK 4,395m as of January 1, 2004 and SEK 1,027m
as of December 31, 2004.
Amounts in SEKm, unless otherwise stated