Annual Report 2000 - Skanska

Note 26Other current receivablesGroupParent Company2000 1999 2000 1999Short-term portion oflong-term receivables 22 13Tax claim 310 407 261Other short-term receivables 4,972 3,290 21 16Total 5,304 3,710 21 277Note 27Distribution of interest -bearing and non-interest-bearingreceivables among balance sheet items2000 1999Non-Non-Interest- interest- Interest- interest-Group bearing bearing Total bearing bearing TotalFinancial fixed assets 895 2,076 2,971 791 2,845 3,636Short-term receivables 2,455 30,965 33,420 1,401 17,437 18,838Short-term investments 752 752 1,986 1,986Cash and bank balances 6,017 6,017 3,597 3,597Other fixed andcurrent assets 34,021 34,021 23,281 23,281Total 10,119 67,062 77,181 7,775 43,563 51,338Note 28Change in shareholders’ equityUn-TotalCapital Restricted restricted Net profit shareh.Group stock reserves reserves for the year equityOpening balance, Jan. 1, 2000 1,366 2,953 7,791 4,281 16,391Transfer of net profit for 1999 4,281 –4,281 0Dividend –1,822 –1,822Share buy-backs –2,608 –2,608Exchange rate differences 444 444Transfer between restricted and 0unrestricted equity 401 –401 0Net profit for 2000 5,953 5,953Closing balance, Dec. 31, 2000 1,366 3,354 7,685 5,953 18,358During the financial year, exchange rate differences of SEK +524 M were reporteddirectly under shareholders’ equity.The amount consisted mainly of positive exchange rate differences in USD, PLZ,NOK, GBP and DEM.The year’s exchange rate differences were reduced by SEK 80 M through hedgingactivities.Accumulated exchange rate differences included in shareholders’ equity totaledSEK 401 M (–43).Un-TotalCapital Restricted restricted Net profit shareh.Parent Company stock reserves reserves for the year equityOpening balance, Jan. 1, 2000 1,366 488 6,038 1,453 9,345Transfer of net profit for 1999 1,453 –1,453 0Group contributions 2,420 2,420Tax on Group contributions –592 –592Shareholder contribution –211 –211Dividend –1,822 –1,822Share buy-backs –2,608 –2,608Net profit for 2000 3,700 3,700Closing balance, Dec. 31, 2000 1,366 488 4,678 3,700 10,232The number of shares was 106,536,268, divided into 9,100,740 Series A shares and104,754,228 Series B shares. The par value per share is SEK 12.Skanska has repurchased 7,318,700 Series B shares as part of the Company’songoing buy-back program.After subtracting taxes, Group contributions received, along with shareholdercontributions provided, were reported directly under retained earnings.Note 29Provisions for pensions and similar commitmentsGroupParent Company2000 1999 2000 1999PRI liability 7 2,072 871Other pension obligations 116 291 90 138Total 123 2,363 90 1,009At the beginning of 2000, most of the amount reported among liabilities in connectionwith provisions for pensions was transferred to Skanska’s pension funds. Theamounts transferred included the reported liability for obligations under the PRIoccupational pension system. Of the SEK 90 M for “Other pension obligations” in theParent Company accounts, SEK 25 M was related to obligations outside the scope ofthe law on safeguarding of pension commitments.Note 30Provisions for taxesGroup 2000 1999Deferred tax on untaxed reserves etc. 2,011 1,923Deferred taxes on surplus values 106 131Other provisions for taxes 951 1,216Total 3,068 3,270During 1988–1990 the Skanska Group, through partly owned companies, purchasedparticipations in aircraft. The tax authorities questioned the depreciation deductionsrelated to most of these transactions. In light of ongoing tax adjudication, Skanskamade a provision in its accounts for possible additional taxes, fees and interest.The 1987 and 1988 tax assessments regarding the subsidiary Skanska Europe AB(formerly Skåne-Gripen AB) were finally decided early in 2000 by a ruling of theSupreme Administrative Court. The case involved a dividend from the then-subsidiaryAB Järnbron, which the company deemed tax-exempt. Under the ruling of theSupreme Administrative Court, the company was charged an additional SEK 354 M intaxes, fees and interest, for which a provision had been made in the 1999 consolidatedaccounts.Note 31Other provisionsGroupParent Company2000 1999 2000 1999Warranty obligations 228 171Other provisions 2,497 1,565 61 10Total 2,725 1,736 61 10“Other provisions” included provisions for the employee profit-sharing foundation,restructuring measures, disputes, bonuses and other earnings-related compensationand restoration expenses for gravel pits.NOTES TO THE FINANCIAL STATEMENT Skanska Annual Report 2000 27