C12 Financial Assets, Non-Current | Ericsson Annual Report 2008

This chapter is covered by the Auditors' Report.

C12 Financial Assets, Non-Current

Equity in joint ventures and associated companies
	Joint ventures		Associated companies		Total
	2008	2007	2008	2007	2008	2007
Opening balance	9,549	8,041	1,354	1,368	10,903	9,409
Share in earnings	–503	7,108	67	124	–436	7,232
Taxes	151	–1,957	–6	–1	145	–1,958
Translation difference	1,084	304	130	55	1,214	359
Change in hedge reserve	36	4	–	–	36	4
Pensions	4	–2	–	–	4	–2
Dividends	–3,627	–3,949	–236	–273	–3,863	–4,222
Capital contribution	–	–	46	103	46	103
Stock Purchase and Stock Option Plans	–	–	–	–19	–	–19
Reclassification	–	–	–1	–	–1	–
Disposals	–	–	–60	–3	–60	–3
Closing balance	6,694	9,549	1,294 ¹⁾	1,354 ¹⁾	7,988	10,903
¹⁾ Goodwill, net, amounts to SEK 16 million (SEK 19 million in 2007).

ericsson’s Share of assets, liabilities and income in joint venture Sony Ericsson Mobile Communications
	2008	2007
Non-current assets	3,228	2,701
Current assets	21,190	22,714
Non-current liabilities	157	121
Current liabilities	17,593	15,745
Net assets	6,668	9,549
Net sales	54,377	59,700
Income after financial items	–400	7,276
Income taxes	151	–1,957
Net income	–249	5,319
Net income attributable to:
Stockholders of the Parent Company	–353	5,151
Minority interest	104	168
Assets pledged as collateral	–	–
Contingent liabilities	20	12

Both these companies apply IFRS in the reporting to Ericsson.

Ericsson’s Share of assets, liabilities and income in associated company Ericsson Nikola Tesla d.d. ¹⁾
	2008	2007
Non-current assets	394	363
Current assets	695	728
Non-current liabilities	6	1
Current liabilities	253	263
Net assets	830	827
Net sales	1,182	1,100
Income after financial items	139	124
Income taxes	–5	–1
Net income	134	123
Net income attributable to:
Stockholders of the Parent Company	134	123
Minority interest	–	–
Assets pledged as collateral	5	5
Contingent liabilities	172	64
¹⁾ Ericsson’s share is 49.07 percent.

Other financial assets, non–current
	Other investments in shares and participations		Customer finance, non-current		Derivatives, non-current		Other financial assets, non-current
	2008	2007	2008	2007	2008	2007	2008	2007
Accumulated acquisition costs
Opening balance	2,019	1,999	1,221	2,270	96	116	4,092	3,447
Additions	3	–	623	892	–	–	292	175
Business combinations	–	–	–	–	–	–	–	166
Disposals/repayments/deductions	–469	–	–761	–1,940	–	–	–713	–245
Change in value in funded pension plans ¹⁾	–	–	–	–	–	–	–307	447
Reclassifications	–	–	–	–	–	–	–	–
Revaluation	–	–	–	–	2,718	–20	–	–
Translation difference	37	20	–1	–1	–	–	193	102
Closing balance	1,590	2,019	1,082	1,221	2,814	96	3,557	4,092
Accumulated impairment losses/allowances
Opening balance	–1,281	–1,278	–209	–349	–	–	–1,270	–1,154
Impairment losses/allowance	–	2	–48	41	–	–	–14	–58
Business combinations	–	–	–	–	–	–	–	–
Disposals/repayments/deductions	–	–	21	98	–	–	–	–
Reclassifications	–	–	–	–	–	–	–	–
Translation difference	–	–5	–	1	–	–	–170	–58
Closing balance	–	–1,281	–236	–209	–	–	–1,454	–1,270
Net carrying value	309 ²⁾	738	846	1,012	2,814	96	2,103	2,822
¹⁾ For further information, see Note C17, “Post–employment benefits”. ²⁾ Fair value per December 31, 2008, for listed shares was SEK 0 (11) million with a net carrying value of SEK 0 (11) million.

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