PC9. Financial instruments

Financial items

SEKm

2016

2015

1)

Other financial expenses are recognized separately as of 2015. The item includes exchange rate differences amounting to SEK 5m (0), net.

 

 

 

Result from participations in Group companies

 

 

Dividends from subsidiaries

46,623

10,688

Group contributions received from subsidiaries

1,312

1,669

Group contributions paid to subsidiaries

–63

–64

Impairment of shares in subsidiaries

–681

–102

 

 

 

Interest income and similar profit items

 

 

Interest income, external

0

0

Interest income, subsidiaries

266

25

 

 

 

Interest expenses and similar loss items

 

 

Interest expenses, external

–419

–607

Interest expenses, subsidiaries

–537

–563

Other financial expenses 1)

–107

–70

IS Total

43,394

10,976

Interest-bearing liabilities

Non-current interest-bearing liabilities

 

Carrying amount

Fair value

SEKm

2016

2015

2016

2015

Bond issues

14,490

14,666

Other non-current loans with a term > 1 year < 5 yrs

1,149

149

1,171

161

Other non-current loans with a term > 5 yrs

1,123

1,917

1,175

1,980

BS Total

2,272

16,556

2,346

16,807

The counterparty for all outstanding bond issues was changed to SCA Hygiene AB in 2016. All other outstanding non-current interest bearing liabilities have been transferred to SCA Hygiene AB during 2017.

Financial instruments by category

AP ACCOUNTING PRINCIPLES

In accordance with Paragraph 3 of RFR 2, the Parent Company has chosen not to apply IAS 39. The Parent Company recognizes financial fixed assets at cost less any impairment and financial current assets according to the lower of cost or market rule. For derivatives used for hedging purposes, recognition is determined by the hedged item. Currency derivatives used to hedge foreign receivables and liabilities are remeasured at the closing day rate to match the currency remeasurement in the receivable/liability. Interest rate derivatives used to hedge interest rate exposure in financial receivables or liabilities are recognized at amortized cost. The accounting policies for financial instruments are applied for the items below. The financial instruments in the Parent Company are classified as loans and receivables for assets, and other financial liabilities measured at amortized cost for liabilities. No other categories have been utilized over the past two years. These balance sheet items are not fully reconcilable since they may include items that are not financial instruments.

Loans and receivables

SEKm

2016

2015

1)

The item Receivables from subsidiaries includes the carrying amount of financial derivatives in respect of subsidiaries of SEK 6m (162). The item Liabilities to subsidiaries includes the carrying amount of financial derivatives in respect of subsidiaries of SEK 35m (344). The net fair value of these derivatives amounts to SEK –18m (–169). The nominal value of the derivatives is SEK 2,548m (32,264).

 

 

 

Assets

 

 

Financial fixed assets

 

 

Interest-bearing receivables

108

126

Interest-bearing receivables from subsidiaries

186

Current assets

 

 

Receivables from subsidiaries 1)

59,943

1,105

Other current receivables

34

35

Cash and bank balances

0

0

Total

60,085

1,452

Financial liabilities measured at amortized cost

SEKm

2016

2015

1)

The item Receivables from subsidiaries includes the carrying amount of financial derivatives in respect of subsidiaries of SEK 6m (162). The item Liabilities to subsidiaries includes the carrying amount of financial derivatives in respect of subsidiaries of SEK 35m (344). The net fair value of these derivatives amounts to SEK –18m (–169). The nominal value of the derivatives is SEK 2,548m (32,264).

 

 

 

Liabilities

 

 

Non-current liabilities

 

 

Liabilities to subsidiaries

Interest-bearing liabilities

2,272

16,556

Current liabilities

 

 

Interest-bearing liabilities

217

7,484

Liabilities to subsidiaries 1)

45,829

64,152

Accounts payable

60

27

Other current liabilities

16

268

Total

48,394

88,487