Saab 2012 Annual Report Download - page 98

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Parent Company
MSEK
Premises
and
buildings
Machinery
and equip-
ment
Outcome
2011 195 78
2012 170 114
Contracted
2013 177 117
2014 172 84
2015 167 49
2016 160 15
2017 152 -
2018 and forward 710 -
Total contracted 1,538 265
1) The Group has a finance lease on a building; see Note 17.
NOTE 19 Biological Assets
Group
MSEK 2012 2011
Living forest
Carrying amount, 1 January 305 299
Change in fair value 10 15
Less fair value logging -9 -9
Carrying amount, 31 December 306 305
Of which fixed assets 306 305
On  December , biological assets consisted of approximately
, m³ of spruce, , m³ of pine and , m³ of hardwood. Forest
growth is estimated at , m³ timber per year. During the year, approxi-
mately , m³ of timber was felled, which had a fair value in the Group,
aer deducting selling expenses, of   on the felling date.
e valuation of forests has been done with the help of independent
appraisers. e forestry property has been valued according to the market
comparison method. In the valuation according to the market comparison
method, the environmental impact on the ring range has not been taken
into account. An adjustment for the environmental impact has therefore
been made by reducing fair value by an amount corresponding to the market
value of the size of the ring range (, hectares) less the value of the tim-
ber.
NOTE 20 Investment Properties
Information on fair value of investment properties in the Group
In the Group, investment properties are reported according to the fair value
method.
Group
MSEK 2012 2011
Carrying amount, 1 January 224 236
Divestment -190 -
Revaluation -1 -12
Carrying amount, 31 December 33 224
Investment properties are recognised in the statement of nancial position
at fair value, while changes in the value of these properties are recognised in
the income statement; see also Note .
Investment properties comprise a number of rental properties leased to
outside tenants. Leases on oces and production space are normally signed
for an initial period of – years. Prior to expiration, renegotiations are held
with the tenant on the rent level and other terms of the agreement, provided
the lease has not been terminated.
Fair values have been determined by analysing rental income and expenses
for each property, thereby producing a net rental income gure. Net rental
income has then served as the basis for a valuation of fair value with a yield of
 per cent. e yield requirements correspond to the risk in net rental income.
Fair value is not based on the valuation of an independent appraiser.
Group
MSEK 2012 2011
Effect on net income/net rental income
Rental income 4 26
Direct costs for investment properties that
generated rental income during the year -2 -10
Effect on net income /net rental income 2 16
Information on fair value of investment properties in the Parent Company
In the Parent Company, investment properties are recognised as buildings
according to the acquisition cost method. Investment properties in the Parent
Company are leased out to other companies in the Group and are therefore
classied as operating properties in the Group.
Parent Company
MSEK 2012 2011
Fair value
Opening fair value, 1 January 165 150
Revaluation -1 15
Closing fair value, 31 December 164 165
Parent Company
MSEK 2012 2011
Effect on net income/net rental income
Rental income 24 27
Direct costs for investment properties that
generated rental income during the year -8 -9
Effect on net income /net rental income 16 18
Information on carrying amount of investment properties in the Parent
Company
Parent Company
MSEK 2012 2011
Accumulated acquisition value
Opening balance, 1 January 127 127
Acquisitions 1 -
Closing balance, 31 December 128 127
Accumulated depreciation according to plan
Opening balance, 1 January -91 -87
Depreciation according to plan for the year -3 -4
Closing balance, 31 December -94 -91
Accumulated revaluations
Opening balance, 1 January 66 66
Closing balance, 31 December 66 66
Carrying amount, 31 December 100 102
NOTE 18, CONT.
FINANCIAL INFORMATION > NOTES
94 SAAB ANNUAL REPORT 2012