Electrolux 2006 Annual Report Download - page 109

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notes, all amounts in SEKm unless otherwise stated
Subsidiaries Holding, %
Major Group companies
Australia Electrolux Home Products Pty. Ltd 100
Austria Electrolux Hausgeräte G.m.b.H. 100
Electrolux Austria G.m.b.H. 100
Belgium Electrolux Home Products Corp. N.V. 100
Electrolux Belgium N.V. 100
Brazil Electrolux do Brasil S.A. 100
Canada Electrolux Canada Corp. 100
China Electrolux Home Appliances (Hangzhou) Co. Ltd 100
Electrolux (China) Home Appliance Co. Ltd 100
Electrolux (Changsha) Appliance Co. Ltd 100
Denmark Electrolux Home Products Denmark A/S 100
Finland Oy Electrolux Ab Electrolux Kotitalouskoneet 100
France Electrolux France SAS 100
Electrolux Home Products France SAS 100
Electrolux Professionnel SAS 100
Germany Electrolux Deutschland GmbH 100
AEG Hausgeräte GmbH 100
Hungary Electrolux Lehel Hütögépgyár Kft 100
Italy Electrolux Zanussi Italia S.p.A. 100
Electrolux Professional S.p.A. 100
Electrolux Italia S.p.A. 100
Electrolux Home Products Italy S.p.A. 100
Luxembourg Electrolux Luxembourg S.à r.l. 100
Mexico Electrolux de Mexico, S.A. de CV 100
The Netherlands Electrolux Associated Company B.V. 100
Electrolux Home Products (Nederland) B.V. 100
Norway Electrolux Home Products Norway AS 100
Poland Electrolux Poland Spolka Z.o.o. 100
Spain Electrolux Home Products España S.A. 100
Electrolux Home Products Operations España S.L. 100
Sweden Electrolux Laundry Systems Sweden AB 100
Electrolux HemProdukter AB 100
Electrolux Professional AB 100
Electrolux Floor Care and Light Appliances AB 100
Switzerland Electrolux AG 100
United Kingdom Electrolux Plc 100
Electrolux Professional Ltd 100
US Electrolux Home Products Inc. 100
Electrolux Holdings Inc. 100
Electrolux Professional Inc. 100
A detailed specifi cation of Group companies has been submitted
to the Swedish Companies Registration Offi ce and is available on
request from AB Electrolux, Investor Relations, and Financial
Information.
Note 30 Discontinued Operations
The Outdoor Products operations of the Group were distributed
to the Electrolux shareholders in June, 2006 under the name of
Husqvarna AB. Before September 2005, Husqvarna AB did not
legally own any of the subsidiaries within the Outdoor Products
segment. During the period September 2005 to May 2006 the
Outdoor Products operations were transferred to Husqvarna AB
at book values. The Outdoor Products operations have been
consolidated in the Electrolux Group accounts up to May 31,
2006.
In accordance with IFRS 5, “Non-current Assets held for sale
and Discontinued Operations”, the net results for the distributed
Outdoor Products operations are reported in the Group’s income
statement under the item “Income for the period from discontin-
ued operations”. This means that the fi gures for the former Out-
door Products operations are excluded from the sales and
expenses reported in the income statement for the current period
and for the corresponding period in 2005. Similarly,
Outdoor Products operations are reported in the cash-fl ow
statement under “Cash fl o w from discontinued operations”
whereas the comparative balance sheet as of December 31,
2005 comprises the original fi g ures, including Outdoor Products
operations.
In addition so called combined fi n ancial statements have been
prepared for the Outdoor Products operations presented below
which represent the fi n ancial position and results of operations
and cash fl ows of Husqvarna AB and its subsidiaries and other
entities included in the Outdoor segment within the Electrolux
Group, including assets, liabilities, revenues and costs of doing
business in the past, even if the amounts were not historically
allocated to the Outdoor Products operations or do not appear in
the historical fi nancial statements of Husqvarna AB and its sub-
sidiaries. The combined fi n ancial statements have been prepared
as if the Outdoor Products operations were formed as of January
1, 2004. The results and net assets of the entities within the Out-
door Products operations, as well as related share capital and
provisions are aggregated.
In the preparation of the combined fi nancial statements for the
Outdoor Products operations, a number of allocations and other
assumptions, have been made, which management believes are
reasonable. However, these allocations and other assumptions
are not necessarily indicative of the costs and expenses that
would have resulted if the Outdoor Products operations had
been operating as a separate entity. The following describes the
most signifi cant allocations and assumptions when preparing the
combined fi nancial statements for the Outdoor Products opera-
tions 2005 and for the period January—May 2006:
105