Annual Report 2011 - Skanska

Parent Company notes45NoteFinancial instruments, Parent CompanyFinancial instruments are presented in compliance with IFRS 7, “Financial Instruments:Disclosures.” This note contains figures about the Parent Company’s financialinstruments. See also Note 1 to the consolidated financial statements, “Accountingand valuation principles,” and Note 6, “Financial instruments and financial riskmanagement.”Financial instruments in the balance sheet2011 2010AssetsNon-current receivables from Group companies 368 1,287Trade accounts receivable 198 27Total financial instruments, assets 566 1,314LiabilitiesNon-current liabilities to Group companies 5,286 3,316Trade accounts payable 49 43Total financial instruments, liabilities 5,335 3,359The fair value of the Parent Company’s financial instruments did not diverge significantlyin any case from the carrying amount. All assets belonged to the category“Loans and receivables.” No assets were carried at fair value through profit or loss.All financial liabilities belonged to the category “Carried at amortized cost.”Risks attributable to financial instrumentsThe Parent Company almost exclusively holds financial instruments in the form ofintra-Group receivables and liabilities. All external management of lending, borrowing,interest and currencies is handled by the Group’s treasury unit (“internal bank”), thesubsidiary Skanska Financial Services AB. See also Note 6 to the consolidated financialstatements, “Financial instruments and financial risk management.”Credit riskThe carrying amount of financial instruments, assets, corresponded to the maximumcredit exposure on the balance sheet date. There were no impairment losses onfinancial instruments on the balance sheet date.46NoteNet sales, Parent CompanyThe Parent Company’s net sales consisted of intra-Group consulting services.The amount included SEK 333 M (284) in sales to subsidiaries. For other relatedparty transactions, see Note 63, “Related party disclosures.”Reconciliation with balance sheet 2011 2010AssetsFinancial instruments 566 1,314Other assetsProperty, plant and equipment and intangible assets 9 12Holdings in Group companies, joint ventures andother securities 10,609 10,566Other non-current receivables 94 95Tax assets 70 60Other current receivables and accrued receivables 93 107Total assets 11,441 12,154Equity and liabilitiesFinancial instruments 5,335 3,359Other liabilitiesEquity 5,742 8,216Tax liability 0 238Provisions 276 268Other current liabilities and accrued liabilities 88 73Total equities and liabilities 11,441 12,154Impact of financial instruments on the Parent Company income statementFinancial income and expenses recognized in2011 2010net financial itemsInterest income on receivables 9 18Interest expense on financial liabilities carried atamortized cost –111 –71Total –102 –53The Parent Company had no income or expenses from financial instruments thatwere recognized directly in equity.Note47Financialitems, Parent CompanyIncome from Income from otherholdings inGroup companiesfinancial noncurrentassetsInterest expensesand similar itemsTotal2011Dividends 2,882 2,882Interest income 9 9Interest expenses –111 –111Total 2,882 9 –111 2,7802010Dividends 4,286 4,286Interest income 18 18Interest expenses –71 –71Total 4,286 18 –71 4,233DividendsThe amount for dividends consisted of dividends in compliance with a decision bythe Annual Shareholders’ Meeting, SEK 2,500 M (3,000) and Group contributionsreceived, SEK 382 M (1,286).Net interest itemsOf interest income, SEK 8 M (18) was related to Group companies. Of interestexpenses, SEK –108 M (–71) was related to Group companies.170 Notes, including accounting and valuation principles Skanska Annual Report 2011