Saab 2010 Annual Report Download - page 106

In , , Series  shares were repurchased on the market to secure
Saab’s Share Matching Plan and Performance Share Plan. Following the
year’s repurchase, ,, shares are held in treasury.
e Board of Directors of Saab have received requests from shareholders
to convert ,, Series  shares in Saab  to Series  shares. As a result
of these conversions, the total number of votes in the company decreased
from ,, to ,,. e total number of registered shares in
Saab is ,,, of which ,, are Series  shares and ,,
are Series  shares.
e dividend to shareholders amounted to   (), or  .
(.) per share.
Management of the Group’s capital
e Group’s capital under management consists of equity. e Group’s capital
management goal is to facilitate continued operating growth and to remain
prepared to capitalise on business opportunities. e long-term equity/asset
goal is at least  per cent.
Net result of cash flow hedges
e net result of cash ow hedges comprises the eective share of the cumu-
lative net change in fair value of a cash ow hedging instrument attributable
to hedge transactions that have not yet taken place.
Translation reserve
e translation reserve comprises exchange rate dierences that arise from
the translation of nancial reports from operations that have prepared their
reports in a currency other than the currency that the Group’s nancial
reports are presented in. e Parent Company and the Group present their
nancial reports in . e translation reserve at year-end amounts to
- (-). Of the translation reserve   () has been reclassied to
earnings.
Revaluation reserve
e revaluation reserve comprises the dierence between the fair value and car-
rying amount of operating properties reclassied as investment properties.
PARENT COMPANY
Restricted reserves
Restricted reserves may not be reduced through prot distributions.
Revaluation reserve
When a tangible or nancial xed asset is revaluated, the revaluation amount
is allocated to a revaluation reserve.
Legal reserve
Provisions to the legal reserve has previously amounted to at least  per cent
of net income for the year, until the legal reserve corresponded to  per cent
of the Parent Company’s capital stock. From , provisions are voluntary
and the Parent Company makes no provisions to the statutory reserve.
Unrestricted equity
Retained earnings
Consists of previous year’s unrestricted equity aer prot distribution and
Group contributions paid. Retained earnings together with net income for
the year comprise unrestricted equity, i.e. the amount available for distribu-
tion to the shareholders.
NOTE 34
EARNINGS PER SHARE
2010 2009
Net income for the year attributable to Parent Company’s
shareholders (MSEK) 433 686
Weighted average number of common shares
outstanding :
before dilution (thousands) 105,218 106,336
after dilution (thousands) 109,150 109,150
Earnings per share, before dilution (SEK) 4.12 6.45
Earnings per share, after dilution (SEK) 3.97 6.28
e weighted average number of shares outstanding before dilution refers to
the total number of shares in issue less the average number of repurchased
treasury shares. e weighted average number of shares outstanding aer
dilution refers to the total number of shares in issue.
NOTE 35
INTEREST-BEARING LIABILITIES
Group
MSEK 31-12-2010 31-12-2009
Long-term liabilities
Liabilities to credit institutions 1,103 1,101
Other interest-bearing liabilities 14 25
Total 1,117 1,126
Current liabilities
Liabilities to credit institutions 78 1,869
Liabilities to joint ventures 428 632
Other interest-bearing liabilities 83 18
Total 589 2,519
Total interest-bearing liabilities 1,706 3,645
Terms and repayment schedules
Collateral for bank loans amounts to   () for the company’s land and
buildings (see Note ). Of the long-term liabilities,  , (,) falls
due between one and ve years of the closing day and   () later than
ve years of the closing day.
Liabilities to credit institutions largely consist of Medium Term Notes
(), and in the previous year of commercial paper as well. For more infor-
mation on nancial risk management, refer to Note .
e fair value of s and commercial paper exceeds book value by
 (). Saab otherwise does not consider there to be a signicant dier-
ence between book and fair value.
NOTE 33, CONT.
FINANCIAL INFORMATION > NOTES
SAAB ANNUAL REPORT 2010 103