Scania annual report 2003

NOTE 9 Tangible fixed assets
Machinery Construction in Assets in
Buildings and progress and operating
and land equipment advance payments lease 1
Carrying amount, 1 January 2001 6,262 6,951 732 8,022
Change in accumulated acquisition value, 2001 1,715 1,238 362 4,870
Change in accumulated depreciation, 2001 –614 –1,611 – –2,213
Carrying amount, 31 December 2001 7,363 6,578 1,094 10,679
Change in accumulated acquisition value, 2002 –511 –276 264 –1,243
Change in accumulated depreciation, 2002 8 –351 – 35
Carrying amount, 31 December 2002 6,860 5,951 1,358 9,471
2003
Accumulated acquisition value
1 January 10,442 19,263 1,358 14,323
Acquisitions/divestments of businesses 86 15 – 16
New acquisitions 406 1,148 924 5,342
Divestments and disposals –136 –669 – –4,664
Reclassifications 245 530 –830 33
Exchange rate differences for the year –253 –955 –24 –598
Total 10,790 19,332 1,428 14,452
Accumulated depreciation
1 January 3,613 13,312 4,705
Depreciation for the year
– Vehicles and Service 361 1,423 725
– Customer Finance 0 9 1,776
Divestments and disposals –35 –554 –2,473
Reclassifications 7 –9 28
Exchange rate differences for the year –81 –646 –178
Total 3,865 13,535 4,583
Accumulated revaluations
1 January 31 – –
Total 31 – –
Accumulated write-downs 2
1 January – – 147
Write-downs for the year – – 25
Reversals of write-downs – – –14
Total – – 158
Carrying amount, 31 December 6,956 5,797 1,428 9,711
– of which “Machinery” 4,882 (5,951)
– of which “Equipment” 915 (952)
– of which “Buildings” 5,290 (5,143)
– of which “Land” 1,666 (1,717)
NOTE 10 Holdings in associated companies
Holdings in associated companies 2003 2002 2001
Accumulated acquisition value 28 29 332
Accumulated share of income 38 38 387
Write-down – –2 –
Carrying amount 66 65 719
Specification of the Group’s holdings of shares
and participations in associated companies etc.
Carrying
Associated amount Value of Scania’s
company/corporate in Parent share in consolidated
ID number/country Ownership Company financial statements
of registration % fin. statem. 2003 2002 2001
Svenska Volkswagen AB,
556084-0968, Sweden 1 – – 624
WM-Data Scania AB,
556084-1206, Sweden 2 – – 45
Cummins-Scania high
pressure injection L.L.C,
043650113, USA 30 25 33 39 48
Swed Bus Pakistan Pvt Ltd,
K-07897, Pakistan 10 0 0 0 2
ScaMadrid S.A.,
ES A80433519, Spain 49 1 16 13 –
ScaValencia S.A.,
ES A46332995, Spain 50 0 17 13 –
Holdings in associated
companies 66 65 719
Other shares and
participations 56 61 76
Total 122 126 795
1 During 2002, Scania sold its 50 percent shareholding in
Svenska Volkswagen AB.
2 By agreement, in 2002 Scania gained a controlling influence in
WM-Data Scania AB, which was then consolidated as a subsidiary.
The value of Scania’s share in the consolidated financial statements
calculated using the equity method of accounting and its ownership
stake in the shareholders’ equity of associated companies totalled
the same amount, SEK 66 m. (65 and 719 respectively).
The Group’s share of undistributed accumulated profit in associated
companies comprised part of restricted reserves in the consolidated
financial statements. It amounted to SEK 38 m. (38 and 387, respectively).
Tax assessment value buildings, in Sweden 996 (920)
equivalent carrying amount 2,356 (2,243)
Tax assessment value land, in Sweden 314 (305)
equivalent carrying amount 426 (401)
1 Including assets for short-term leasing.
2 Write-downs of assets in operating leases refer to value adjustment for possible credit losses.
ANNUAL REPORT 2003
64