ANNUAL REPORT 2004 - Skanska

Note 35 continued
Absence from work due to illness
Figures on absence from work due to illness (sick leave)
apply only to operations in Sweden.
Swedish
operations Parent Company 1
July 1, 2003– July 1, 2003–
2004 Dec. 31, 2003 2004 Dec. 31, 2003
Total absence from work
due to illness as a percentage
of regular working time 4.9% 5.1% 2.4% 4.4%
Percentage of total absence
from work due to illness
for a period of 60 days or more 62.4% 62.5% 83% 76.0%
Absence from work due to illness
as a percentage of each category’s
regular working time:
Men 5.0% 5.3% 0.1% 0.0%
Women 3.4% 3.5% 5.3% 9.8%
Absence due to illness by age category
Age 29 or younger 3.6% 4.0% 19.6% 2.6%
Age 30–49 3.6% 3.7% 3.4% 7.1%
Age 50 or older 7.0% 7.3% 0.2% 0.0%
1 In the Parent Company, the number of employees totaled 59 (56).
Note 36
Fees and other remuneration to auditors
Group 2004 2003
KPMG
Auditing assignments 39 43
Other assignments 24 23
Other auditors
Auditing assignments 1 1
Other assignments
Total 64 67
”Auditing assignments” refer to examination of the annual accounts as well as the
administration by the Board of Directors and the President, as well as other tasks
that are incumbent upon the Company’s auditors to perform. Everything else is
”Other assignments.” ”Other assignments” mainly consist of consultations related
to tax and accounting matters as well as due diligence assignments.
Note 37 Related party disclosures
Through its ownership and percentage of voting power, AB Industrivärden has
a significant influence, as defined in compliance with RR 23, ”Related party
disclosures.” All transactions have occurred on market terms.
Associated companies and joint ventures are companies related to Skanska.
Information on transactions with these is presented in the following tables.
Information on personnel expenses are found in Note 35, ”Personnel.”
Group 2004 2003
Sales to associated companies and joint ventures 3,491 2,530
Purchases from associated companies and joint ventures –78 –38
Interest income from associated companies and joint ventures 28 23
Interest expenses to associated companies and joint ventures 0 0
Dividends from associated companies and joint ventures 68 125
Long-term receivables from associated companies
and joint ventures 198 224
Current receivables from associated companies
and joint ventures 346 532
Interest-bearing liabilities to associated companies
and joint ventures 17 0
Operating liabilities to associated companies
and joint ventures 14 20
Contingent liabilities on behalf of associated companies
and joint ventures 889 1,164
Parent Company 2004 2003
Sales to Group companies 55 127
Purchases from Group companies –59 –110
Interest income from Group companies 116 78
Interest expenses to Group companies –123 –107
Dividends from Group companies 1,200 1,200
Long-term receivables from Group companies 4,163 2,834
Current receivables from Group companies 15 17
Long-term liabilities to Group companies 5,705 3,533
Current-liabilities to Group companies 6 3
Contingent liabilities on behalf of Group companies 80,031 100,750
Note 38 Leases
Skanska is a lessee in both finance and operating leases.
When Skanska is a lessee, finance leasing assets are reported with a book value as
fixed assets in the balance sheet, while the future commitment to the lessor is
reported as a liability in the balance sheet.
As a financial lessor, Skanska reports the present value of its claim on the lessee as
a financial receivable. As an operating lessor, Skanska leases properties to tenants
via its Commercial Project Development operations.
A. Skanska as a lessee
Finance leases
Leased tangible fixed assets, buildings and land as well as machinery and equipment
are reported in the consolidated financial statements as finance leases.
Of the amount in the balance sheet for finance leases, most refers to a property in
Norway used for Skanska’s business and an office building in the Czech Republic.
Finance leases, book value 2004 2003
Tangible fixed assets
Buildings and land 45 46
Machinery and equipment 37 5
Total 82 51
Acquisition value 120 69
Depreciation for the year –5 –4
Accumulated depreciation, January 1 –33 –14
Book value 82 51
Variable fees for finance leases included in 2004 income amounted to
SEK –13 M (–2). No property leased by Skanska has been subleased to others.
Future minimum lease payments and their present value can be seen in the
following table.
Present
value
Future of future
minimum minimum
lease
lease
payments payments
Expenses, due dates 2004 2003 2004 2003
Within one year –28 –11 –23 –9
Later than one year but within five years –55 –41 –38 –32
Later than five years –60 –19 –46 –11
–143 –71 –107 –52
Reconciliation, future minimum lease payments
and their present value 2004 2003
Future minimum lease payments –143 –71
Less interest charges 36 19
Present value of future minimum lease payments –107 –52
Operating leases
Most of the amounts for future minimum lease payments are related to office space
for operations in the United Kingdom and site leasehold fees in Sweden.
The Group’s leasing expenses related to operating leases in 2004 amounted to
SEK –244 M (–168), of which SEK –244 M (–168) was related to minimum lease payments
and SEK 0 M (0) Mkr was related to variable payments.
Skanska Annual Report 2004 – Notes, including accounting and valuation principles
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