Atlas Copco 2008 â tough ending to a record year Annual Report ...

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Financial statements, atlas copco group10. ContinuedChanges in temporary differences during the year that are recognized in theincome statement are attributable to the following:2008 2007Intangible assets –35 –36Property, plant and equipment –99 41Other financial assets –68 –102Inventories 136 140Current receivables –3 190Cash and cash equivalents – 8Operating liabilities 70 –50Provisions 36 24Post-employment benefits –1 –33Borrowings –335 –134Assets held for sale – 11Other items –57 224Changes due to temporary differences –356 283Loss/credit carry-forward 444 3388 31611. Earnings per shareBasic earnings per shareDiluted earnings per shareAmounts in SEK 2008 2007 2008 2007Earnings per share 8.33 6.09 8.33 6.09– of which continuing operations 8.18 6.05 8.18 6.04– of which discontinued operations 0.15 0.04 0.15 0.04The calculation of earnings per share presented above is based on profits and number of shares as detailed below.Profit for the year attributable to the equity holders of the parent 2008 2007Profit for the year 10 157 7 439– of which continuing operations 9 973 7 386– of which discontinued operations 184 53Basic earnings per shareBasic earnings per share are calculated based on the profit for the year attributable to the equity holders of the parent and the basic weighted averagenumber of shares outstanding.Diluted earnings per shareDiluted earnings per share are calculated based on the profit for the year attributable to the equity holders of the parent and the diluted weighted averagenumber of shares outstanding. The dilutive effects arise from the stock options in the share based incentive programs.The stock options have a dilutive effect when the average share price during the period exceeds the exercise price of the options. The dilutive effectincreases in proportion to the increase in the difference between the average share price during the period and the exercise price of the options. The exerciseprice is adjusted by the value of future services related to the options when calculating the dilutive effect.Average number of shares outstanding 2008 2007Basic weighted average number of shares outstanding 1 219 099 275 1 220 784 704Effect of employee stock options 716 123 1 520 569Diluted weighted average number of shares outstanding 1 219 815 398 1 222 305 273Potentially dilutive instrumentsAs of December 31, 2008 Atlas Copco has four outstanding employee stock option programs, of which the exercise price for three programs exceeded theaverage share price for ordinary shares, SEK 86 (106) per share including adjustment for repurchased shares. These three programs are, therefore, consideredanti-dilutive and are not included in the calculation of diluted earnings per share. If the average share price exceeds the strike price in the future, theseoptions will be dilutive.58 Atlas Copco 2008
12. Intangible assetsInternally generatedintangible assets Acquired intangible assets2008ProductdevelopmentOthertechnologyand contractbasedProductdevelopmentTrademarkMarketingand customerrelatedOthertechnologyand contractbased Goodwill TotalCostOpening balance, Jan. 1 1 746 340 63 1 715 830 614 7 915 13 223Investments 495 100 51 646Business acquisitions 50 314 –6 26 384Divestments –3 –13 –41 –57Disposals –7 –4 –11Reclassifications 5 –11 1 24 19Translation differences 198 28 1 85 169 102 514 1 097Closing balance, Dec. 31 2 444 450 64 1 847 1 301 781 8 414 15 301Amortization andimpairment lossesOpening balance, Jan. 1 892 103 13 92 208 237 13 1 558Amortization for the period 306 50 13 26 131 71 597Impairment charge for theperiod 7 7Divestments –1 –5 –6Disposals –7 –3 –10Reclassifications 2 –1 3 9 13Translation differences 116 11 –1 17 40 41 2 226Closing balance, Dec. 31 1 314 159 25 140 377 355 15 2 385Carrying amountsAt Jan. 1 854 237 50 1 623 622 377 7 902 11 665At Dec. 31 1 130 291 39 1 707 924 426 8 399 12 916Internally generatedintangible assets Acquired intangible assets2007ProductdevelopmentOthertechnologyand contractbasedProductdevelopmentTrademarkMarketingand customerrelatedOthertechnologyand contractbased Goodwill TotalCostOpening balance, Jan. 1 1 321 212 3 229 485 513 2 583 5 346Investments 394 111 25 530Business acquisitions 63 1 495 376 76 5 367 7 377Divestments –52 –52Disposals –3 –5 –9 –4 –21Reclassifications 10 –3 –4 –2 1Translation differences 34 7 –4 –18 6 17 42Closing balance, Dec. 31 1 746 340 63 1 715 830 614 7 915 13 223Amortization andimpairment lossesOpening balance, Jan. 1 636 57 2 50 126 164 12 1 047Amortization for the period 234 43 7 43 94 60 481Business acquisitions 9 9 18Disposals –3 –3 –9 –3 –18Reclassifications 2 1 –5 –2 4 –Translation differences 23 2 2 –1 3 1 30Closing balance, Dec. 31 892 103 13 92 208 237 13 1 558Carrying amountsAt Jan. 1 685 155 1 179 359 349 2 571 4 299At Dec. 31 854 237 50 1 623 622 377 7 902 11 665Other technology and contract-based intangible assets include computer software, patents and contract-based rights such as licenses and franchise agreements.All intangible assets other than goodwill and trademarks with indefinite useful lives are amortized. For information regarding amortization andimpairment, see notes 1 and 7. See notes 2 and 3 for information on acquisitions and divestments.Atlas Copco 2008 59
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Atlas Copco2008 - tough ending to a
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• Strong order growth in most are
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Revenues by business areaRevenues b
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educing Atlas Copco’s main enviro
Page 9 and 10: Many new products were introduced d
Page 11 and 12: TargetsFinancial targetsAtlas Copco
Page 13 and 14: StructureThe Group is organized in
Page 15 and 16: New divisionEffective January 1, 20
Page 17: 80 000Revenues and marginsMSEK %286
Page 22 and 23: administration reportconcentrated t
Page 24 and 25: administration reportEnvironmental
Page 26 and 27: ADMINISTRATION REPORTCompressor Tec
Page 28 and 29: administration reportThe Compressor
Page 30 and 31: administration reportConstruction a
Page 32 and 33: administration reportThe Constructi
Page 34 and 35: administration reportIndustrial Tec
Page 36 and 37: administration reportThe Industrial
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Page 82 and 83: Financial statements, parent compan
Page 98 and 99: Audit ReportTo the Annual Meeting o
Page 100 and 101: Sustainability ReportAtlas Copco’
Page 102 and 103: SUSTAINABILITY REPORTRoles and resp
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Page 106 and 107: SUSTAINABILITY REPORT10080604020050
Page 108 and 109: SUSTAINABILITY REPORTIn 2008, CO 2
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SUSTAINABILITY REPORTwinter and coo
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SUSTAINABILITY REPORTNo. of acciden
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SUSTAINABILITY REPORTBusiness Partn
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SUSTAINABILITY REPORTShareholdersTh
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SUSTAINABILITY REPORTSustainability
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Corporate Governance ReportThe Boar
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Corporate Governance ReportBoard of
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Corporate Governance ReportGroup St
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Corporate Governance ReportGroup Ma
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Corporate Governance ReportRemunera
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Corporate Governance ReportBusiness
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The Atlas Copco ShareAt December 31
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the atlas copco shareOwnership stru
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Five Years in SummaryMSEK 2004 1) 2
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Financial InformationWelcome to the
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We are committed to yoursuperior pr
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