Saab 2011 Annual Report Download - page 76

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as of 31 December
MSEK Note 2011 2010
Assets
Intangible fixed assets 16 6,699 6,413
Tangible fixed assets 17 3,272 3,052
Lease assets 18 771 1,154
Biological assets 19 305 299
Investment properties 20 224 236
Shares in associated companies 21 288 251
Financial investments 25 197 203
Long-term receivables 27 1,046 856
Deferred tax assets 15 86 -
Total fixed assets 12,888 12,464
Inventories 28 4,334 4,100
Derivatives 41 520 1,105
Tax assets 23 46
Accounts receivable 29 3,153 3,052
Other receivables 27 3,579 3,630
Prepaid expenses and accrued income 30 829 680
Short-term investments 25 4,555 1,544
Liquid assets 31 1,918 2,544
Total current assets 18,911 16,701
Assets held for sale 32 - 113
TOTAL ASSETS 31,799 29,278
CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION
Since the beginning of 2011, the net cash position has in-
creased by MSEK 2,042 to MSEK5,333 at the end of 2011.
Major reasons for the improvement in the net cash position are
an increased profitability, an increased level of customer ad-
vances and milestone payments.
Intangible assets increased as a result of the acquisition of
Sensis.
As of 1 January 2009, Saab changed its view on the applica-
tion of the accounting principles for development costs. As a
result of this more conservative view, development costs are
capitalised at a later stage in all projects and all capitalised de-
velopment costs are amortised over maximum ten years.
Inventories are recognised after deducting utilised advances.
Other receivables decreased as a result of the divestment of
the shares in Aker Holding AS.
Short-term interest-bearing liabilities decreased by MSEK69
from the beginning of the year.
Provisions for pensions amounted to MSEK12 (5). During
2011, the Saab Pension Fund was capitalised with a total of
MSEK102 (108). The fund was set up in 2006 with the overall
objective to secure the Group’s defined-benefit pension plans
and at the same time hedge the interest rate volatility of the
pension liability and reduce the overall cost of pensions.
For more information on the reporting of Saab’s pension obli-
gations, see Note 37.
FINANCIAL INFORMATION > FINANCIAL STATEMENTS
72 SAAB ANNUAL REPORT 2011