AI Annual Report 2019 1
NOT 19 CASH AND CASH EQUIVALENTS Cash and bank ba
lances 12/31/2019 157,329 157,329 NOT 20 PENSIONS 1/1/2019Opening carrying amount Pension payments Interest Revaluation due to changes in financial assumptions Revaluation due to experience-based adjustments Reclassification 12/31/2019 87,090 -5,710 1,709 5,747 319 828 89,983 Defined benefit pension plans For white collar employees in Sweden, the ITP 2 plan's defined benefit pension commitments for retirement and family pensions are secured through the insurance with Alecta. According to a statement from the Financial Reporting Board, UFR 10 Classification of ITP plans funded through an insurance in Alecta, a defined benefit plan covers several employers. The company has not had access to information and therefore could not report its proportional share of the plan’s liabilities, management assets and expenses. This meant that the plan could not be reported as a defined benefit plan. Therefore, the pension plan ITP 2, secured through insurance in Alecta, is reported as a defined contribution plan. The premium for the defined-benefit retirement and family pension is individually calculated and depends, inter alia, on the salary, Sensitivity analysis Discount rate Inflation Life span previously earned retirement and expected remaining retirement period. The annual pension insurance contributions in Alecta amount to kSEK 27,978 (kSEK 29,473). The Group has also defined benefit plans in Sweden and these are secured through FPG/PRI. These plans are closed and no new earnings are made. The pension liabilities for these amount to kSEK 89,155 (kSEK 87,090). For the actuarial calculations, a discount rate of 1.2% (2.0%) and an inflation of 1.8% (2.0%) have been applied. The duration of the commitment is approx. 11 years. 1/1/201812/31/2018 89,094 -5,520 1,793 1,422 301 0 87,090 12/31/2018 99,724 99,724 Assumption +0,5% +0,5% +1 år Change -4,812 5,172 4,289 NOT 21 DEFERRED TAX Deferred tax assets Opening carrying amount Reported in income statement Recognized in other comprehensive income Change in tax rate Conversion differences Business acquisitions 12/31/2019 49,842 10,502 1,298 0 -871 1,140 61,911 12/31/2018 25,030 2,244 380 -146 -811 23,145 49,842 The deferred tax assets mainly consist of temporary differences between fiscal and carrying values of assets and liabilities, and losses carried forward. 66 I.A. HEDIN BIL AB / ANNUAL REPORT / 2019