Skanska Annual Report 2003

Note 29LiabilitiesEffective in 2003, liabilities are divided into long-term and current, in compliancewith RR 22, ”Presentation of financial statements.” See ”Accounting and valuationprinciples,” Note 1.Long-term and current liabilities declined during 2003. As large property divestmentsoccurred, capital previously tied up in properties was freed up, and debtswere thus repaid.Group 2003 2002Interest-bearing long-term liabilities 7,182 13,845Current liabilitiesInterest-bearing 808 2,607Non-interest-bearing 35,987 39,402Total 43,977 55,854Long-term liabilitiesInterest-bearing liabilities that fall due for payment within twelve months may beregarded as long-term in some cases. These are shown in the following table. Fordefinition, see ”Accounting and valuation principles,” Note 1.2003 2002Group 1,503 1,694Parent company 15 26Specification of other current liabilitiesGroup 2003 2002Value-added tax 903 764Employee taxes 990 792Interest-bearing 118 1,322Other current liabilities 1,840 2,4053,851 5,283Specification of accrued expenses and prepaid revenuesGroup 2003 2002Accrued wage and salary expenses,including social welfare contributions 2,160 2,209Prepaid revenues 588 522Accrued interest expenses 84 228Other accrued expenses 3,990 4,2896,822 7,248Note 30 Specification of interest-bearing net loan liability per asset and provision/liabilityThe following table allocates financial current and fixed assets as well as liabilities and provisions between interest-bearing and non-interest-bearing items.2003 2002Non-Non-Interest- interest- Interest- interest-Group bearing bearing Total bearing bearing TotalAssetsFinancial fixed assetsHoldings in joint ventures and associated companies 1,374 1,374 1,471 1,471Other long-term holdings of securities 76 76 547 547Receivable from joint ventures and associated companies 224 224 213 0 213Deferred tax claims 1,539 1,539 1,621 1,621Other long-term receivables 1,732 1,732 645 0 6451,956 2,989 4,945 858 3,639 4,497Current receivablesAccounts payable, recognized but non-invoiced revenueplus prepaid expenses and accrued revenue 24,585 24,585 28,011 28,011Current receivables from joint ventures and associated companies 532 532 224 224Tax claims 415 415 310 310Other current receivables 1,248 2,006 3,254 1,128 2,757 3,8851,248 27,538 28,786 1,128 31,302 32,430Long-term investments 218 218 303 303Cash and bank balances 6,819 6,819 5,460 5,460Total interest-bearing assets 10,241 7,749Provisions and liabilitiesProvisionsProvisions for pensions and similar commitments 1,926 132 2,058 657 327 984Provisions for taxes 3,104 3,104 2,317 2,317Other provisions 175 3,055 3,230 16 3,062 3,0782,101 6,291 8,392 673 5,706 6,379Long-term liabilitiesBond loans, liabilities to credit institutions 6,747 6,747 13,494 13,494Liabilities to associated companies and joint ventures 0 0 8 8Other liabilities 435 435 343 3437,182 0 7,182 13,845 0 13,845Current liabilitiesBond loans, liabilities to credit institutions 691 691 1,280 1,280Advance payments from customers 1,510 1,510 986 986Accounts payable, invoiced but unrecognized revenueplus accrued expenses and prepaid revenues 30,152 30,152 33,963 33,963Liabilities to joint ventures and associated companies 0 20 20 6 44 50Tax liabilities 571 571 447 447Other liabilities 117 3,734 3,851 1,321 3,962 5,283808 35,987 36,795 2,607 39,402 42,009Total interest-bearing liabilities and provisions 10,091 17,125Total interest-bearing net debt 150 –9,376Skanska Annual Report 2003 – Notes, including accounting and valuation principles 73