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Note 28 Construction contracts<br />
Recognized income not yet invoiced<br />
Group<br />
MSEK <strong>2012</strong> 2011<br />
Recognized income on incomplete contracts 37,455 30,682<br />
Invoicing on incomplete contracts –32,215 –26,102<br />
Total 5,240 4,580<br />
Invoiced income not yet recognized<br />
Group<br />
MSEK<br />
Invoiced sales on incomplete contracting<br />
<strong>2012</strong> 2011<br />
projects<br />
Recognized income on incomplete<br />
45,433 42,079<br />
contracting projects –40,187 –37,810<br />
Total 5,246 4,269<br />
Recognized income from contracts in progress is <strong>report</strong>ed with the<br />
application of percentage of completion method. The degree of<br />
recognition is calculated on the basis of the project costs incurred at<br />
the end of the period in relation to the project income corresponding<br />
to project costs for the whole project.<br />
Contract assignments are <strong>report</strong>ed in the balance sheet on the<br />
basis of gross project for project, either as Recognized but non-invoiced<br />
income in current assets or as Invoiced but unrecognized<br />
income in current liabilities. Projects that have higher recognized<br />
incomes than the amount invoiced are <strong>report</strong>ed as assets, while<br />
projects that have been invoiced for more than recognized income<br />
are <strong>report</strong>ed as liabilities.<br />
Note 29 Prepaid expenses and accrued<br />
income<br />
Parent Company<br />
MSEK <strong>2012</strong> 2011<br />
Accrued interest income 1 2<br />
Prepaid overhead expenses 4 5<br />
Total 5 7<br />
Note 30 Equity<br />
Shares and share capital<br />
Group<br />
A shares B shares<br />
Number of<br />
issued fully<br />
paid shares<br />
Share capital,<br />
SEK<br />
Number of issued<br />
shares 1 January<br />
<strong>2012</strong><br />
Total number of<br />
issued shares 31<br />
34,319,957 261,729,773 296,049,730 1,583,866,056<br />
December <strong>2012</strong> 34,319,957 261,729,773 296,049,730 1,583,866,056<br />
An A share entitles the holder to 10 votes and a B share to 1 vote. The<br />
par value of all shares is SEK 5.35.<br />
For those shares in the company’s own holding (see below) all rights<br />
have been revoked until these shares are reissued.<br />
Repurchased own shares that have reduced the equity item Profit<br />
brought forward including profit for the year<br />
Number of<br />
shares 1)<br />
Amount that<br />
affected equity,<br />
MSEK 2)<br />
<strong>2012</strong> 2011 <strong>2012</strong> 2011<br />
Opening repurchased<br />
own shares<br />
Purchases during the<br />
1,086,984 9,308,220 929 1,213<br />
year<br />
Divestments during the<br />
– 360,000 – 16<br />
year<br />
Closing repurchased<br />
– –8,581,236 – –300<br />
own shares 1,086,984 1,086,984 929 929<br />
1) A withdrawal of 5,500,000 shares was made in 2007.<br />
2) Amount affecting equity refers to the accumulated net sum of acquired and divested<br />
own shares.<br />
Other contributed capital<br />
Refers to equity contributed by the owners. Includes premiums paid in<br />
conjunction with new issues.<br />
Reserves<br />
Translation reserve<br />
The translation reserve comprises all exchange rate differences generated<br />
by translating the financial <strong>report</strong>s from foreign companies<br />
prepared in another currency than the one used in Group financial<br />
statements. The parent company and the Group present their <strong>report</strong>s<br />
in Swedish crowns (SEK). The translation reserve also consists of<br />
exchange rate differences from extended investment in foreign<br />
business and re-borrowing from foreign operations.<br />
Fair value reserve<br />
The fair value reserve incudes the accumulated net change of the fair<br />
value of financial assets available-for-sale until the asset has been<br />
eliminated from the balance sheet.<br />
Hedging reserve<br />
The hedging reserve comprises the effective part of the accumulated<br />
net changes in fair value in a hedge instrument attributable to a hedged<br />
risk in a cash flow which has yet not affected the income statement.<br />
Profit brought forward including profit for the year<br />
Profit brought forward including profit for the year consists of profit in<br />
the parent company and its subsidiaries, associated companies and<br />
joint ventures. Previous provisions for reserve funds, excluding transferred<br />
premium funds, and previous investment funds are included in<br />
this equity item.<br />
Repurchased shares<br />
Repurchased shares comprise the purchase cost minus the sales<br />
income for own shares held by the parent company. As of 31 December<br />
<strong>2012</strong>, the Group’s holding of own B shares was 1,086,984 (1,086,984).<br />
PEAB ANNUAL REPORT <strong>2012</strong><br />
67<br />
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