Review of 2010 – USD version - Skanska

Note
22 Continued
Fair value of current asset properties
USD bn Surplus value, Dec 31, 2010
Commercial Property Development
Completed projects 0.22
Undeveloped land and development properties 0.07
Ongoing projects 1 0.04
0.34
Residential Development
Undeveloped land and development properties 0.05
Total 0.49
1 Surplus value refers to accrued surplus value.
Note
23 Inventories etc.
Inventories are reported in compliance with IAS 2, “Inventories.” See “Accounting and
valuation principles,” Note 1.
2010 2009
Raw materials and supplies 84.8 85.4
Products being manufactured 19.1 15.4
Finished products and merchandise 32.2 15.3
Total 136.1 116.2
There were no significant differences between the carrying amount for inventories and
their fair value. No portion of inventories was adjusted due to an increase in net realizable
value. No merchandise was used as collateral for loans and other obligations.
Assets pledged
Current-asset properties used as collateral for loans and other obligations totaled
USD 5.0 M (1.5). See Note 33, “Assets pledged, contingent liabilities and contingent
assets.”
Other matters
Information on capitalized interest is reported in Note 15, “Borrowing costs.”
Skanska has committed itself to investing USD 19.3 M (100.7) in current-asset
properties.
Note
24
Trade and other receivables
Non-interest-bearing business receivables are reported as “Trade and other receivables.”
Trade and other receivables are part of the Group’s operating cycle and are
recognized as current assets.
25 Cash Note
Dec 31, 2010 Dec 31, 2009 Jan 1, 2009
Trade accounts receivable from
joint ventures 98.6 57.3 45.1
Other trade accounts receivable 2,410.4 2,553.3 2,596.5
Other operating receivables from joint
ventures 8.2 4.9 0.0
Other operating receivables 437.7 527.5 508.5
Prepaid expenses and accrued income 176.5 167.4 252.8
Total 3,131.6 3,310.4 3,402.8
of which financial instruments reported in Note 6,
"Financial instruments and financial risk management."
Trade accounts receivables 2,509.0 2,610.6 2,641.6
Other operating receivables including
accrued interest income 22.6 12.9 21.6
2,531.7 2,623.5 2,663.2
of which non-financial instruments 599.9 686.8 739.6
“Cash” consist of cash and available funds at banks and equivalent financial institutions.
Cash amounted to USD 978.1 M (1,309.0). Cash equivalents were not included in this
amount.
The Group had no cash equivalents on the closing day, or on the year-earlier
closing day.
130 Notes, including accounting and valuation principles Skanska Review of 2010 – USD version