annual RepoRt 2011 - Haldex

the particular assets. this means that the asset has
been recognized at a net acquisition value, on which
the size of depreciation has been based.
2.18 Discontinued operations
Haldex has prepared its year-end financial statements
in accordance with IFRS 5 non- Current assets Held
for Sale and discontinued operations, whereby the
consolidated income statement is separated into
continuing and discontinued operations and, in the
consolidated balance sheet, assets and liabilities held
for sale have been lifted out and reported on separate
lines.on december 17, 2010, Haldex reached
an agreement with BorgWarner Inc. concerning the
divestment of the traction Systems division. the
transaction was finalized on January 31, 2011.
In a previous press release, Haldex aB’s Board
stated that it intended to propose a demerger of
the Group, whereby the Hydraulic Systems division
would be listed as an independent company. the
Haldex Group was restructured during 2010 and
2011, and in June 2011 the Hydraulic Systems
division was listed as separate company.
In the income statement for 2010 and 2011,
both divisions – traction Systems and Hydraulics
Systems – are reported as discontinued operations.
also, the capital gain from the divestment of the
traction Systems division, revaluation of Hydraulic
Systems net assets and all costs attributable to the
Group restructuring are classified as discontinued
operations.
It is not possible to compare the figures recognized
within the definition of discontinued operations
with the segment figures since the segment
figures include allocations of Group-wide costs.
2.19 new standards, amendments and inter-
pretations to existing standards that have not
yet been endorsed and have not been early
adopted by the Group
IAS 19 – Employee benefits
the impact on the group will be as follows: to eliminate
the corridor approach and recognise all actuarial
gains and losses in other Comprehensive Income
as they occur; to immediately recognise all past service
costs; and to replace interest cost and expected
return on plan assets with a net interest amount that
is calculated by applying the discount rate to the net
defined benefit liability (asset). the Group intends to
apply the amended standard for the financial year
beginning 1 January 2013. the estimated negative
impact on equity transition will be SeK 48 m pre tax.
the standard has not yet been endorsed by the eu.
IFRS 9 – Financial instruments
this deals with the classification, valuation and reporting
of financial liabilities and assets and replaces parts
of IaS 39. IFRS 9 requires that financial assets be classified
into two different categories and determined
at initial recognition. For financial liabilities there are
smaller changes, which refers to liabilities that are
designated at fair value. the Group intends to apply
the new standard by the financial year beginning 1
January 2015 and has not yet evaluated the effects.
the standard has not yet been endorsed by the eu.
IFRS 13 – Fair Value Measurement
provides a precise definition and a single source of
fair value measurement and disclosures and guidance
on the application when other IFRSs already require
or permit fair value measurement. the Group has
not yet evaluated the full impact of IFRS 13 on the
financial statements. the Group intends to apply the
new standard, the financial year beginning 1 January
2013. the standard has not yet been endorsed by
the eu.
none of the other IFRS and IFRIC interpretations
that have not yet entered into force, expected to
have a material impact on the Group.
Haldex annual report 2011 | 37
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