ANNUAL REPORT 2006 - Skanska

Note 59
Expected recovery periods of assets, provisions and liabilities, Parent Company
2006 2005
Within 12 months Within 12 months
Amounted expected to be recovered 12 months or longer Totalt 12 months or longer Total
Intangible non-current assets 1 1 21 22 1 15 16
Property, plant and equipment 1 1 2 3 1 2 3
Financial non-current assets
Holdings in Group companies and joint ventures 2 10,565 10,565 10,575 10,575
Receivables from Group companies 3 7,693 7,693 7,332 7.332
Other non-current receivables 78 78 73 73
Deferred tax assets 52 52 51 51
18 388 18 388 18 031 18 031
Current receivables
Current receivables from Group companies 1 1 19 19
Tax assets 5 5 1 1
Other current receivables 108 108 49 49
Prepaid expenses and accrued income 9 9 97 97
123 0 123 166 0 166
Total assets 125 18,411 18,536 168 18,048 18,216
2006 2005
More than
More than
Within 12 months 5 years Within 12 months 5 years
Amounts expected to be paid 12 months to 5 years (liabilities) Total 12 months to 5 years (liabilities) Total
Provisions
Provisions for pensions 152 152 160 160
Other provisions 21 21 22 22
173 173 182 182
Liabilities
Non-current liabilities
Liabilities to credit institutions 0 30 158 188
Liabilities to Group companies 4 9,920 9,920 9,202 9,202
0 0 9,920 9,920 30 158 9,202 9,390
Current liabilities
Trade accounts payable 12 12 15 15
Liabilities to Group companies 0 7 7
Tax liabilities 0 0
Other liabilities 7 7 6 6
Accrued expenses and prepaid income 44 44 41 41
63 0 0 63 69 0 0 69
Total liabilities and provisions 63 173 9,920 10,156 99 340 9,202 9,641
1 In case of amounts expected to be recovered within twelve months, expected annual depreciation/amortization has been recognized.
2 No portion of this amount is expected to be recovered within 12 months.
3 No portion of this amount is expected to be recovered within twelve months, since this lending is treated as non-current.
4 Intra-Group non-current interest-bearing liabilities are treated as if they fall due more than five years from the balance sheet date.
Note 60
Assets pledged and contingent liabilities, Parent Company
Assets pledged
Assets pledged by the Parent Company totaled SEK 77 M (73), which were related
to assets in the form of non-current receivables.
These assets were pledged as collateral for some of the Parent Company’s pension
obligations.
Contingent liabilities
Contingent liabilities are reported in compliance with IAS 37, Provisions, Contingent
Liabilities and Contingent Assets.” Note 1, ”Accounting and valuation principles,”
IAS 37 section, describes the accounting principles.
2006 2005
Contingent liabilities on behalf of Group companies 73,758 64,221
Other contingent liabilities 6,002 6,193
79,760 70,414
Of the Parent Company’s contingent liabilities on behalf of Group companies,
more than SEK 69 billion (59) was related to contracting obligations incurred by
Group companies. Among the reasons for the increase during 2006 is that the
Parent Company is guaranteeing the contracting work for St. Bartholomew’s
Hospital in London and the Royal London Hospital. Of the remaining contingent
liabilities on behalf of Group companies, nearly SEK 2.9 billion (5.2) consisted of
guarantees issued for borrowing by Group companies from credit institutions.
Of other contingent liabilities, nearly SEK 3.0 billion (4.0) was related to liability
for the portion of construction consortia held by external entities. Of the remaining
SEK 3.0 billion (2.1), more than SEK 0.6 billion (1.4) was attributable to guarantees
provided for financing of joint ventures in which Group companies are coowners
and SEK 2.3 billion (0.7) to guarantees for financing of residential projects
in Sweden.
The Parent Company has issued capital coverage guarantees for certain subsidiaries.
The amounts in the above table include SEK 7 M (9) worth of Parent Company
contingent liabilities related to construction consortia.
Skanska Annual Report 2006 Notes, including accounting and valuation principles 129