Scania Annual Report 2011

118
notes to the consolidated financial statements
NOTE 19 Accrued expenses and
deferred income
NOTE 20 Assets pledged and
contingent liabilities
2011 2010 2009
Accrued employee-related expenses 2,925 2,764 2,467
Deferred income related to service
and repair contracts 1,893 1,807 2,077
Deferred income related to
repurchase obligations 1 4,647 3,653 3,195
Accrued financial expenses 85 70 100
Other customary accrued expenses
and deferred income 1,387 1,572 1,900
Total 10,937 9,866 9,739
− of which, current 6,925 6,751 7,209
− of which, non-current 4,012 3,115 2,530
Of the above total, the following was
attributable to Financial Services
operations 249 287 335
1 Of the above deferred income related to vehicles sold with repurchase obligations,
SEK 637 m. (539 and 665, respectively) is expected to be recognised as revenue within
12 months. SEK 400 m. (134 and 52, respectively) is expected to be recognised as revenue
after more than 5 years.
Assets pledged 2011 2010 2009
Financial receivables 2 3,469 2,276 –
Other 1 2 1
Total 1 3,470 2,278 1
1 Of which, assets pledged for:
Non-current borrowings 3,469 2,276 –
Liabilities of others 1 2 1
2 Refers mainly to pledged leases in Financial Services.
Contingent liabilities 2011 2010 2009
Contingent liability related to FPG
credit insurance 53 47 46
Loan guarantees 11 14 29
Other guarantees 290 411 404
Total 354 472 479
In addition to the above contingent liabilities, the Group has issued vehicle repurchase
guarantees worth SEK 47 m. (37 and 41, respectively) to customers’ creditors.
NOTE 21 Lease obligations
As a lessee, the Scania Group has entered into financial and operating leases.
Future payment obligations on non-cancellable operating leases
2011 2010 2009
Operating leases
Future minimum
lease payments
Of which, related
to premises
Future minimum
lease payments
Of which, related
to premises
Future minimum
lease payments
Of which, related
to premises
Within one year 426 232 371 197 339 200
Between one year
and five years 1,106 662 755 587 856 617
Later than five years 540 525 521 519 604 602
Total 1 2,072 1,419 1,647 1,303 1,799 1,419
1 Refers to operating leases where the obligation exceeds one year.
Allocation of lease expenses 2011 2010 2009
Operating leases
Fixed payments 454 365 345
Flexible payments 4 5 1
Payments related to sub-leased items –6 –8 –3
Total 2 452 362 343
2 Expenses for leases on premises were charged to income in the amount
of SEK 225 m. (196 and 192, respectively).
financial reports Scania 2011