Annual and Sustainability Report 2011 - Teracom

Note 23. Equity
Share capital
According to the articles of association for Teracom Group AB (the
Parent Company), the share capital should amount to no less than
SEK 50,000 and no more than SEK 200,000. As of 31 Decembe r
2011, the share capital was SEK 50,000. The quotient value is
SEK 1,000. All 50,000 shares are fully paid and carry full entitlement to an
equal voting right and share in the company’s assets.
No shares are held by the Company itself or its subsidiaries.
Other contributed capital
Other contributed capital refers to capital contributed by the owner.
Reserves
Reserves include all exchange rate differences arising during the translation
of financial statements from foreign operations, changes in the translation of
goodwill, other surpluses in local currency and derivative instruments subject
to hedge accounting. Reserves also include tax related to the above items.
Profit brought forward
Profit brought forward, which includes the profit/loss for the period, also
includes earned profits for the Parent Company and its share of profits/losses
of subsidiaries. Profit brought forward includes amounts to be distributed as
dividends.
Proposed dividends
As of 31 December 2011, the Parent Company had non-restricted equity of
SEK 1,859 million. A decision about dividends will be made at the AGM on
18 April 2012. The Board of Directors' proposed dividend is SEK 110 million.
Note 25. Provisions
Long-term provision
Group
Pension provisions
Provisions 2011 2010
Opening balance, 1 January 1 2
Provisions made 0 1
Provisions utilized 0 -2
Closing balance, 31 December 1 1
Short-term provision
Group
Restructuring
Provisions 2011 2010
Opening balance, 1 January 2 1
Provisions made 6 5
Provisions utilized -4 -4
Closing balance, 31 December 4 2
Short-term provision
Parent Company
Restructuring
Provisions 2011 2010
Opening balance, 1 January 0 -
Provisions made 4 -
Provisions utilized 0 -
Closing balance, 31 December 4 -
Provisions made and utilized consist of estimated personnel expenses resulting
from the Group's decision to execute a reorganization of the company.
These expenses primarily consist of retirement pensions.
Note 24. Accrued expenses and
deferred income
Deferred income primarily pertains to deferred income for pay TV subscriptions
and deferred income for capacity and co-location.
The long-term portion of deferred income amounts to SEK 79 (70) million
for the Group and SEK 0 (-) million for the Parent Company.
The components of the current portion of deferred income are shown in the
table, below.
Group Parent Company
Accrued expenses and
deferred income 2011 2010 2011 2010
Accrued personnel expenses 67 66 9 -
Deferred income 517 463 0 -
Accrued expenses for program
companies
73 61 - -
Other items 98 174 5 -
Total 755 764 14 -
88