Saab 2015 Annual Report Download - page 66

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FINANCIAL INFORMATION – FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
MSEK 2015 2014
Net income for the year 1,402 1,168
Other comprehensive income/loss:
Items that will not be reversed in the income statement:
Revaluation of net pension obligations 839 -1,220
Tax attributable to revaluation of net pension
obligations -183 266
Total 656 -954
Items that may be reversed in the income statement:
Translation differences -20 517
Available-for-sale financial assets -27 27
Net gain/loss on cash flow hedges:
Change in value -381 -1,140
Reversed through profit and/or loss 361 -23
Tax attributable to net gain/loss on cash flow hedges 11 253
Total -56 -366
Other comprehensive income 600 -1,320
Net comprehensive income for the year 2,002 -152
of which Parent Company’s shareholders’ interest 2,007 -167
of which non-controlling interest -5 15
FINANCIAL NET
MSEK 2015 2014
Financial net related to pensions -64 -57
Net interest items -79 7
Currency gains/losses -118 -5
Other net financial items 92 -81
Total -169 -136
Revaluation of net pension obligations
has had a pre-tax effect of MSEK839
(-1,220) on net comprehensive income
for the year, see note 34 for more infor-
mation. The after-tax effect of net gain/
losses of cash flow hedges on net
comprehensive income amounted to
MSEK-9 (-910), see note 38 for more
information.
Financial net related to pensions is the financial cost for net
pension obligations recognised in the balance sheet. See
note 34 for more information regarding defined-benefit
pension plans.
Net interest items refer to return on liquid assets and short-
term investments and to interest expenses on short-term
and long-term interest-bearing liabilities.
Currency gains/losses reported in financial net are mainly
related to hedges of the tender portfolio, which are valued at
fair value. In 2015, the valuation was to a large extent impac-
ted by changes in the market valuation of derivatives with
exposure in the currencies USD and EUR.
Other net financial items consist of costs attributable to the
programme for the sale of trade receivables, unrealised
results from the market valuation of short-term investments,
and other currency effects, for example changes related to
liquid assets in currencies other than SEK.
In December 2015, Saab divested its holding in the Indian
company Pipavav Defence and Offshore Engineering Com-
pany Limited. The divestment resulted in a capital gain of
MSEK 117, which is recognised in other financial items.
A combination of negative currency effects and share price
development resulted in a value decline of MSEK 19 in 2014,
which is also recognised in other financial items.
62 – SAAB ANNUAL REPORT 2015