Annual report 2012 - Peab

NOTES
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
Provisions which are long-term liabilities
Group
2012
MSEK
Guarantee
risk reserve
Re-establishment
costs Disputes Other
Opening book value
Provisions set aside during
231 63 6 10
the year
Amounts requisitioned
138 15 1 38
during the year
Reversed unutilized
–85 –6 –5 –10
provisions during the year –2 0
Closing book value 282 72 2 38
Provisions which are current liabilities
Group
2012
MSEK
Guarantee
risk reserve
Re-establishment
costs Disputes Other
Opening book value
Provisions set aside during
63 13 44 13
the year
Amounts requisitioned
57 16 65 1
during the year
Reversed unutilized
–14 –11 –44 –9
provisions during the year –21
Closing book value 85 18 65 5
Guarantee risk reserve
Refers to the estimated cost of remedying faults and deficiencies in
terminated projects that arise while the project is under warranty.
Resources are consumed during the guarantee period of the project
which is generally two to five years. As the effect of the time point for
payment is not significant expected future disbursements are not
valued at their current value.
Close-down costs
Refers to costs in business area Construction in Norway and Finland.
Re-establishment costs
Refers to restoration costs for gravel pits and rock quarries after termination
of operations. The provision grows in relation to the amount
quarried and is reversed after restoration is complete. The reserved
sum is expected to be used successively after operations are terminated.
The estimated restoration time is 1 to 15 years.
Disputes
Refers to disputes in business area Industry and Construction.
Others
Refers to provisions in business area Construction, Industry
and Property Development.
70 PEAB ANNUAL REPORT 2012
Note 34 Other liabilities
Group
MSEK
Other long-term liabilities
2012 2011
Additional purchase price 3 21
Interest rate swaps 106 57
Other long-term liabilities 33 32
Total 142 110
Other current liabilities
Liabilities to joint ventures – 17
Additional purchase price 50 23
Tax at source, social security costs 178 179
Value added tax 412 524
On account work-in-progress 379 736
Other current liabilities 213 140
Total 1,232 1,619
Parent company
MSEK
Other current liabilities
2012 2011
Tax at source 1 1
Other current liabilities 2 5
Total 3 6
Note 35 Accrued expenses and deferred
income
Parent company
MSEK 2012 2011
Accrued payroll expenses 9 9
Accrued social security expenses 6 5
Accrued interest expenses – 3
Accrued overhead expenses 1 1
Total 16 18