Annual Report 2007 - Financial StatementsNote 12 - Associated Companies and Joint Ventures
| Income from associated companies and joint ventures | ||||
| The net effect on income from holdings in associated companies and joint ventures was as follows. | ||||
| January-December | ||||
| SEK in millions | 2007 | 2006 | ||
| Share in net income for the year | 7,677 | 5,477 | ||
| Amortization of fair value adjustments | -54 | 92 | ||
| Impairment losses on goodwill, fair value adjustments, etc. | -0 | -41 | ||
| Net capital gains | 74 | 51 | ||
| Net effect on income | 7,697 | 5,579 | ||
| Income is broken down by reportable segment in Note 6 "Segment Information." Large individual stakes (including capital gains/losses and intermediate holding companies, when applicable) impacted earnings as follows. | ||||
| January-December | ||||
| SEK in millions | 2007 | 2006 | ||
| Svenska UMTS-nät AB, Sweden (joint venture) | -156 | -70 | ||
| SIA Lattelecom, Latvia | 225 | 209 | ||
| OAO MegaFon, Russia | 4,181 | 2,779 | ||
| Turkcell Iletisim Hizmetleri A.S., Turkey | 2,725 | 2,021 | ||
| Overseas Telecom AB, Sweden | 18 | 633 | ||
| Telefos AB, Sweden | 640 | 37 | ||
| Unisource N.V./AUCS, the Netherlands | 32 | 31 | ||
| Other holdings | 32 | -61 | ||
| Net effect on income | 7,697 | 5,579 | ||
| In 2007, Telefos AB divested its remaining subsidiary Eltel Group Oy. Turkcell's financials are included in TeliaSonera's reporting with a one-quarter lag. As of January 1, 2006, the Turkish economy was from an accounting perspective no longer considered to be hyperinflationary, affecting TeliaSonera in the second quarter of 2006. | ||||
| Investments in associated companies and joint ventures | ||||
| The total carrying value was distributed and changed as follows. | ||||
| December 31, | ||||
| SEK in millions | 2007 | 2006 | ||
| Goodwill and similar assets on consolidation | 8,655 | 7,685 | ||
| Share of equity | 24,410 | 17,851 | ||
| Carrying value | 33,065 | 25,536 | ||
| Carrying value, opening balance | 25,536 | 25,208 | ||
| Share of net income for the year | 7,677 | 5,477 | ||
| Amortization and write-downs of fair value adjustments | -54 | 51 | ||
| Dividends received | -2,684 | -1,788 | ||
| Acquisitions and operations acquired | 389 | 91 | ||
| Divestments and divested operations | - | -3 | ||
| Reclassifications | -314 | 74 | ||
| Inflation adjustments | - | -147 | ||
| Exchange rate differences | 2,515 | -3,427 | ||
| Carrying value, closing balance | 33,065 | 25,536 | ||
| The carrying value is broken down by reportable segment in Note 6 "Segment Information" and by company in Note 35 "Specification of Shareholdings and Participations." The market value of the Group's holding in the publicly quoted Turkcell was SEK 57,871 million and SEK 28,428 million as of December 31, 2007 and 2006, respectively. | ||||
| Summarized information on the associated companies' and joint ventures' aggregate (100 percent) balance sheets and income statements was as follows. | ||||
| December 31 or January-December | ||||
| SEK in millions | 2007 | 2006 | ||
| Non-current assets | 125,270 | 109,573 | ||
| Current assets | 39,976 | 26,099 | ||
| Provisions and long-term liabilities | 17,691 | 20,847 | ||
| Current liabilities | 23,508 | 18,556 | ||
| Net sales | 85,195 | 75,095 | ||
| Gross profit | 56,158 | 47,339 | ||
| Net income | 24,638 | 16,674 | ||
- Consolidated Income Statements
- Consolidated Balance Sheets
- Consolidated Cash Flow Statements
- Consolidated Statements of Changes in Equity
- 1 Basis of Preparation
- 2 Critical Accounting Policies, Estimates and Assumptions
- 3 Consolidated Financial Statements
- 4 Significant Accounting Policies
- 5 Changes in Group Composition
- 6 Segment Information
- 7 Net Sales
- 8 Expenses by Nature
- 9 Other Operating Income and Expenses
- 10 Related Party Transactions
- 11 Amortization, Depreciation and Impairment Losses
- 12 Associated Companies and Joint Ventures
- 13 Finance Costs and Other Financial Items
- 14 Income Taxes
- 15 Goodwill and Other Intangible Assets
- 16 Property, Plant and Equipment
- 17 Other Non-current Assets
- 18 Inventories
- 19 Trade and Other Receivables
- 20 Interest-bearing Receivables, Cash and Cash Equivalents
- 21 Equity and Earnings per Share
- 22 Long-term and Short-Term Borrowings
- 23 Provisions for Pensions and Employment Contracts
- 24 Other Provisions
- 25 Other Long-term Liabilities
- 26 Trade Payables and Other Current Liabilities
- 27 Financial Assets and Liabilities by Category
- 28 Financial Risk Management
- 29 Leasing Agreements
- 30 Contingencies, Other Contractual Obligations and Litigation
- 31 Cash Flow Information
- 32 Human Resources
- 33 Auditors' Fees and Services
- 34 Business Combinations etc.
- 35 Specification of Shareholdings and Participations