SECURITAS AB Annual Report 2011

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130 Annual Report Notes and comments to the Parent Company financial statements Note 40. Transactions with related parties Transactions between the Parent Company and subsidiaries are priced in accordance with business principles. THE PARENT COMPANY’S TRANSACTIONS WITH RELATED PARTIES COMPRISE: MSEK Administrative contributions and 2011 2010 2009 other revenues from subsidiaries 836.0 942.7 962.4 Result of sale of shares in subsidiaries 96.31 – 85.9 Dividends from subsidiaries Group contributions paid to 5 027.7 6 093.7 5 145.7 subsidiaries -29.9 -497.4 -500.2 Interest income from subsidiaries 149.0 119.7 214.4 Interest expenses to subsidiaries Guarantees issued on behalf -346.5 -145.7 -199.0 of subsidiaries2 Guarantees issued on behalf of 1 462.7 1 578.8 1 596.6 associated companies2 73.2 63.0 35.6 1 Included on the line other operating income in the statement of income. 2 Guarantees on behalf of related parties were previous year accounted for in note 56 Contingent liabilities. Note 41. Financial risk management The Parent Company follows, as stated in note 39, IAS 39 Financial instruments: Recognition and measurement. Refer to note 2 and note 6 for further information about financial risks that are applicable also for the Parent Company. LIQUIDITY REPORT AS PER DECEMBER 31, 2010–2011 MSEK December 31, 2011 Total < 1 year Between 1 year and 5 years > 5 years Borrowings -22 099 -13 221 -8 530 -348 Derivatives outflows -11 923 -11 890 -33 – Accounts payable -12 -12 – – Total outflows -34 034 -25 123 -8 563 -348 Investments 3 561 3 259 302 – Derivatives receipts 11 933 11 877 56 – Total inflows 15 494 15 136 358 – Net cash flows, total1 -18 540 -9 987 -8 205 -348 December 31, 2010 Borrowings -20 550 -11 142 -9 408 – Derivatives outflows -11 308 -11 253 -55 – Accounts payable -23 -23 – – Total outflows -31 881 -22 418 -9 463 – Investments 3 257 3 145 112 – Derivatives receipts 11 277 11 174 103 – Total inflows 14 534 14 319 215 – Net cash flows, total1 -17 347 -8 099 -9 248 – 1 Variable rate cash flows have been estimated using the relevant yield curve. Securitas Annual Report 2011
REVALUATION OF FINANCIAL INSTRUMENTS MSEK Recognized in the statement of income 2011 2010 2009 financial income and expenses 4.0 -4.2 0.3 Deferred tax -1.0 1.1 -0.1 Impact on net income for the year 3.0 -3.1 0.2 Recognized via hedging reserve in other comprehensive income Transfer to hedging reserve before tax -29.7 -56.9 -107.1 Deferred tax on transfer to hedging reserve 7.8 15.0 28.1 Transfer to hedging reserve net of tax -21.9 -41.9 -79.0 Transfer to statement of income before tax 34.1 129.0 184.2 Deferred tax on transfer to statement of income -9.0 -33.9 -48.4 Transfer to statement of income net of tax 25.1 95.1 135.8 Total change of hedging reserve before tax1 4.4 72.1 77.1 Deferred tax on total change of hedging reserve before tax1 -1.2 -18.9 -20.3 Total change of hedging reserve net of tax 3.2 53.2 56.8 Total impact on shareholders' equity as specified above Total revaluation before tax2 8.4 67.9 77.4 Deferred tax on total revaluation2 -2.2 -17.8 -20.4 Total revaluation after tax 6.2 50.1 57.0 1 Total of transfer to hedging reserve and transfer from hedging reserve to statement of income. 2 Total revaluation and deferred tax recognized via statement of income and via other comprehensive income. Annual Report Notes and comments to the Parent Company financial statements DERIVATIVES IN THE BALANCE SHEET MSEK Interest-bearing financial non-current assets 2011 2010 2009 fair value hedges 33.6 40.8 12.1 Total derivatives included in interest-bearing financial non-current assets 33.6 40.8 12.1 Interest-bearing current receivables from subsidiaries Other derivative positions 4.6 – 52.7 Total derivatives included in interest-bearing current receivables from subsidiaries 4.6 – 52.7 Other interest-bearing current assets Other derivative positions 0.5 14.7 47.5 Total derivatives included in other interest-bearing current assets 0.5 14.7 47.5 Long-term loan liabilities Cash flow hedges 16.5 16.2 79.4 Total derivatives included in long-term loan liabilities 16.5 16.2 79.4 Interest-bearing current liabilities to subsidiaries Other derivative positions 0.6 80.3 – Total derivatives included in interest-bearing current liabilities to subsidiaries 0.6 80.3 – Other short-term loan liabilities Cash flow hedges 4.0 8.8 17.7 Other derivative positions 20.4 6.5 10.8 Total derivatives included in other short-term loan liabilities 24.4 15.3 28.5 FAIR VALUE – HIERARCHY AS PER DECEMBER 31, 2011 Valuation techniques Valuation techniques Quoted using observable using non observable MSEK market prices market data market data Total Financial assets at fair value through profit or loss – 5.1 – 5.1 Financial liabilities at fair value through profit or loss – -21.0 – -21.0 Derivatives designated for hedging with positive fair value – 33.6 – 33.6 Derivatives designated for hedging with negative fair value – -20.5 – -20.5 Securitas Annual Report 2011 131
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Annual Report 2011
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Operating income before by business
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“ Specialization rather than dive
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2. Acquisitions Approximately half
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The key to success lies in “ work
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Knowledge Leader in Security Securi
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We specialize in customer segments
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12 Presentation of our business Ove
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14 Presentation of our business Sec
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18 Presentation of our business Mob
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22 Presentation of our business New
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· Increased use of technology. Inc
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Europe, 4-6 % market growth Growth:
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Greater customer value when investi
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A Challenging Year At year-end, the
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LARGEST SHAREHOLDERS AT DECEMBER 31
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Governance and Management
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Clear and Effective Structure for G
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The work of the Board of Directors
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Employee representatives 1 Annika F
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Supervisory Board (Finansinspektion
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Enterprise risk management process
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all risks related to the infrastruc
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tions deemed to be risk areas, for
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Board of Directors The activities o
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income and expenses in the statemen
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Volume-related factors The first tw
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Aimé Lyagre b. 1959 Chief Operatin
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60 The formal annual accounts and t
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62 Annual Report Report of the Boar
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70 Annual Report Consolidated finan
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76 Annual Report Notes and comments
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78 Annual Report Notes and comments
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Page 130 and 131: 126 Annual Report Parent Company fi
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Page 146: Securitas AB P.O. Box 12307 SE-102
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SECURITAS AB Annual Report 2011

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