Review of 2012 – EUR - Skanska

22NoteContinuedNoteDifference between fair value and carrying amount for current-assetpropertiesEUR billionSurplus valueDec 31, 2012Surplus valueDec 31, 2011Commercial Property DevelopmentCompleted projects 0.20 0.13Undeveloped land and development properties 0.07 0.07Ongoing projects 1 0.21 0.290.48 0.49Residential DevelopmentUndeveloped land and development properties 0.12 0.11Total 0.59 0.611 Estimated market value. Internal appraisal, with valuation on respective completion dates.Assets pledgedCurrent-asset properties used as collateral for loans and other obligations totaledEUR 0.0 M (1.1). See Note 33, “Assets pledged, contingent liabilities and contingentassets.”24Trade and other receivablesNon-interest-bearing business receivables are reported as “Trade and other receivables.”Trade and other receivables are part of the Group’s operating cycle and arerecognized as current assets.Dec 31, 2012 Dec 31, 2011Trade accounts receivable from joint ventures 51.2 58.4Other trade accounts receivable 2,150.6 1,965.1Other operating receivables 404.7 382.4Prepaid expenses and accrued income 137.8 132.8Total 2,744.3 2,538.7of which financial instruments reported in Note 6,“Financial instruments and financial risk management”Trade accounts receivables 2,201.8 2,023.6Other operating receivables including accrued interestincome 6.2 17.82,208.0 2,041.4of which non-financial instruments 536.3 497.4Other mattersInformation about capitalized interest is presented in Note 15, “Borrowing costs.”Skanska has committed itself to investing EUR 9.2 M (10.2) in current-asset properties.Note23Inventories etc.Inventories are reported in compliance with IAS 2, “Inventories.” See “Accountingand valuation principles,” Note 1.Note25Cash“Cash” consists of cash and available funds at banks and equivalent financialinstitutions.Cash totaled EUR 671.9 M (595.4).The Group had no cash equivalents on the closing day, or on the year-earlierclosing day.Dec 31, 2012 Dec 31, 2011Raw materials and supplies 67.3 57.9Products being manufactured 12.8 14.0Finished products and merchandise 45.5 41.8Total 125.7 113.7There were no significant differences between the carrying amount for inventoriesand their fair value. No portion of inventories was adjusted due to an increase innet realizable value. No merchandise was used as collateral for loans and otherobligations.140 Notes, including accounting and valuation principles Skanska Review of 2012 – EUR version