Saab 2015 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2015 Saab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 126

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126

FINANCIAL INFORMATION – FINANCIAL STATEMENTS
NOTE 26 LONG-TERM RECEIVABLES AND
OTHER RECEIVABLES
Group
MSEK 31-12-2015 31-12-2014
Long-term receivables held as fixed assets
Receivables from associated companies,
interest-bearing 68 59
Receivables from associated companies,
non interest-bearing - 2
Receivables from joint ventures, interest-bearing 288 -
Receivables attributable to pension, interest-bearing 49 59
Other interest-bearing receivables 11 24
Other non interest-bearing receivables 28 8
Total 444 152
Group
MSEK 31-12-2015 31-12-2014
Other receivables held as current assets
Receivables from associated companies,
interest-bearing 20 3
Receivables from associated companies,
non interest-bearing 39 71
Receivables from joint ventures, interest-bearing 10 -
Receivables from joint ventures, non interest-bearing 40 9
Advance payments to suppliers 26 22
Other interest-bearing receivables 18 2
Other non interest-bearing receivables 400 643
Subtotal 553 750
Receivables from customers
Assignment revenue 10,495 6,433
Less utilised advance payments -2,946 -2,928
Subtotal 7,549 3,505
Total 8,102 4,255
Assignment revenue refers to assignment costs incurred and reported gross
income less any losses attributable to the work performed. Unutilised advance
payments amounted to MSEK 1,098 (856).
Costs attributable to assignment revenue amounted to MSEK 8,759 (5,438).
Reported gross income amounted to MSEK 1,736 (996).
Parent Company
MSEK 31-12-2015 31-12-2014
Other long-term receivables
Interest-bearing receivables 11 20
Non interest-bearing receivables 4 5
Total 15 25
Parent Company
MSEK 31-12-2015 31-12-2014
Other receivables held as current assets
Non interest-bearing receivables 396 428
Subtotal 396 428
Receivables from customers
Assignment revenue 9,047 5,204
Less utilised advance payments -2,847 -2,848
Subtotal 6,200 2,356
Total 6,596 2,784
Assignment revenue refers to assignment costs incurred and reported gross
income less any losses attributable to the work performed. Unutilised advance
payments amounted to MSEK 400 (439).
Costs attributable to assignment revenue amounted to MSEK 7,561 (4,420).
Reported gross income amounted to MSEK 1,486 (784).
Parent Company
MSEK 2015 2014
Long-term receivables
Accumulated acquisition value
Opening balance, 1 January 25 22
Additional receivables 13 3
Settled receivables -23 -
Closing balance, 31 December 15 25
NOTE 27 INVENTORIES
ACCOUNTING PRINCIPLES
Inventories are valued at the lower of cost and net realisable value. Net realisable
value is the estimated selling price in continuing operations after deducting
estima-ted expenses for completion and expenses incurred in selling.
Cost is calculated by applying the first-in first-out method (FIFO) or the weigh-
ted average method and includes expenses to acquire inventory assets and bring
them to their present location and condition. For finished and semifinished goods,
cost consists of direct manufacturing expenses and a reasonable share of indirect
manufacturing expenses as well as expenses to customise products for individual
customers. Calculations take into account normal capacity utilisation.
Group
MSEK 31-12-2015 31-12-2014
Raw materials and consumables 2,005 2,004
Work in progress 2,136 2,916
Finished goods and goods for resale 1,102 899
Total 5,243 5,819
Saab and the Swedish Ministry of Enterprise, Energy and Communications have
reached an agreement with the National Debt Office to co-finance Saab’s partici-
pation 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 deli-
very to Airbus. Through 2015, the National Debt Office has paid out MSEK 263
(263). The debt as of 31 December 2015 amounted to MSEK 148 (162), which
reduced inventory in the financial statements.
The Group’s cost of goods sold includes inventory write-downs of MSEK 101
(78). The reversal of previous write-downs amounted to MSEK 52 (85). The value of
inventories measured at fair value less selling expenses amounted to MSEK 35
(161). Of inventories, MSEK 101 is expected to be realised more than twelve
months after the closing day.
Parent Company
MSEK 31-12-2015 31-12-2014
Raw materials and consumables 1,350 1,524
Work in progress 1,497 2,214
Finished goods and goods for resale 776 715
Advance payments to suppliers 45 37
Total 3,668 4,490
Cost of goods sold for the Parent Company includes inventory write-downs of
MSEK 99 (71) after the reversal of previous write-downs of MSEK 49 (84). The
value of inventories measured at fair value less selling expenses amounted to
MSEK 35 (161). Of the Parent Company’s inventories, MSEK 0 is expected to be
realised more than twelve months after the closing day.
SAAB ANNUAL REPORT 2015– 95