Saab 2015 Annual Report Download - page 82

FINANCIAL INFORMATION – FINANCIAL STATEMENTS
NOTE 9 GOVERNMENT GRANTS
ACCOUNTING PRINCIPLES
Saab receives government grants, mainly various grants from EU related to
research and development projects. These are recognised in the statement of
financial position as prepaid or accrued income when there is reasonable certa-
inty that the grant will be received and that the Group will meet the conditions
associated with the grant. Government grants are systematically recognised in
the income statement in the same way and over the same periods as the expen-
ses for which the grants are intended to compensate. Government grants related
to assets are recognised in the statement of financial position as a reduction in
the asset’s carrying amount.
For 2015, MSEK 72 (72) has been received. MSEK 76 (82) has been recognised
through profit or loss by reducing research and development expenditures and as
other operating income. In the statement of financial position at year-end,
MSEK13 (18) is recognised as prepaid income.
Saab and the Ministry of Enterprise, Energy and Communications have reached
an agreement with the National Debt Office to co-finance Saab’s participation in
the Airbus A380 project. The co-financing is in the form of a royalty loan maximised
at MSEK 350. Repayment will take the form of a royalty on each delivery to Airbus.
Through 2015, the National Debt Office has paid out a net amount of MSEK 263
(263). The debt as of 31 December 2015 amounted to MSEK 148 (162), which
reduces inventory in the financial statements.
No contingent liabilities or contingent assets are reported.
NOTE 10 EMPLOYEES AND STAFF COSTS
The average number of employees in 2015 amounted to 14,545 (14,106), of whom
79 per cent (79) were men. A complete list of the number of employees by country
has been sent to the Swedish Companies Registration Office and can be ordered
from Saab AB, Group Finance - Investor Relations.
Average number of employees1)
2015
of whom
men 2014
of whom
men
Parent company
Sweden 8,428 79% 8,471 80%
EU excluding Sweden 28 75% 6 67%
Rest of Europe 13 100% 11 100%
Americas 11 91% 8 100%
Asia 73 89% 62 87%
Africa 31 87% 18 100%
Parent company, total 8,584 79% 8,576 80%
Group companies
Sweden 3,402 78% 2,931 78%
EU excluding Sweden 714 82% 711 82%
Rest of Europe 147 77% 165 74%
Americas 595 75% 663 74%
Asia 104 76% 107 77%
Africa 684 73% 656 73%
Australia, etc. 315 81% 297 80%
Group companies, total 5,961 78% 5,530 78%
Group, total 14,545 79% 14,106 79%
1) The average number of employees has been calculated as an average of the number of Full
Time Equivalents (FTE). The term Full-Time Equivalents excludes long-term absentees and
consultants. Fixed term employees and probationers are however included in the calculation.
Gender distribution of corporate management
Parent Company
Share of women, per cent 2015 2014
Board of Directors 33 33
Other senior executives 33 33
Salaries, other remuneration and social security expenses
2015 2014
MSEK
Salaries and
other remu-
neration
Social
security
expenses
Salaries and
other remu-
neration
Social
security
expenses
Parent Company 4,774 2,256 4,660 1,900
of which pension costs1) - 820 - 474
Group companies 3,394 977 3,003 1,038
of which pension costs2) - 399 - 537
Group, total 8,168 3,233 7,663 2,938
of which pension costs3) - 1,219 - 1,011
1) Of the Parent Company’s pension costs, MSEK 13 (10) referred to the Parent Company’s
Board and President, i ncluding deputies and Executive Vice President. The company’s out-
standing pension obligations for these individuals, amount to MSEK 22 (23), of which
MSEK21 (23) referred to former Board members and President, including deputies and
Executive Vice Presidents.
2) Adjustment according to different accounting principles regarding defined-benefit plans
between Parent Company and Group. See note 34 for more information.
3) Of the Group’s pension costs, MSEK 9 (17) referred to the Group’s and Group companies’
boards and Presidents. The Group’s outstanding pension obligations for these individuals
amounted to MSEK 28 (29), of which MSEK 21 (23) referred to former board members and
Presidents.
Salaries and other remuneration distributed between Board members,
President and Executive Vice Presidents and other employees
2015 2014
MSEK
Board,
President
and Execu-
tive Vice
Presidents
Other
employees
Board,
President
and Execu-
tive Vice
Presidents
Other
employees
Parent Company 27 4,747 25 4,635
of which variable
remuneration - -
Group companies 80 3,314 75 2,928
of which variable
remuneration 2 1
Group, total 107 8,061 100 7,563
of which variable
remuneration 2 1
Of the salaries and remuneration paid to other employees in the Group, MSEK 43
(30) referred to senior executives other than Board members and the President.
For information on post-employment benefits, see note 34.
SENIOR EXECUTIVES’ BENEFITS
Remuneration to Board members
In accordance with the resolution of the Annual General Meeting, the fees paid to
members of the Board, for the term April 2015 – April 2016, amount to
SEK5,300,000 (4,635,000), consisting of SEK 1,400,000 (1,230,000) to the Chair-
man, SEK600,000 (525,000) to the Deputy Chairman and SEK 550,000 (480,000)
to each of the other members elected by the Annual General Meeting, with the
exception of the President.
For audit committee work during the term April 2015 – April 2016, committee
chairman Per-Arne Sandström also received a fee of SEK 180,000 (180,000) and
committee members Johan Forssell and Joakim Westh each received a fee of
SEK120,000 (120,000).
For remuneration committee work, during the term April 2015 – April 2016,
committee chairman Lena Treschow Torell also received a fee of SEK 135,000
(135,000) and committee members Marcus Wallenberg and Sten Jakobsson each
received a fee of SEK 80,000 (80,000).
Remuneration to Board members and committee members recognised as cost
for fiscal year 2015 is shown in the table below.
78 – SAAB ANNUAL REPORT 2015