Note 31 Provisions

Provisions which are long-term liabilities

Group, MSEK 2018 2017
Koncernen, Mkr 2018 2017
Guarantee risk reserve Garantikostnader 442 342
Restoration costs Återställningskostnader 124 137
Special payroll tax on pensions Löneskatt på pensionskostnader 111 98
Disputes Tvister 14
Obligations in joint ventures Åtagande i joint ventures 60 47
Other Övrigt 65 13
Total Summa 816 637

Provisions which are current liabilities

Group, MSEK 2018 2017
Koncernen, Mkr 2018 2017
Feared losses not worked-up Ej upparbetad befarad förlust 25 43
Guarantee risk reserve Garantikostnader 180 184
Restoration costs Återställningskostnader 3
Disputes Tvister 25 56
Other Övrigt 33 79
Total Summa 266 362

Provisions

Parent company, MSEK 2018 2017
Moderbolaget, Mkr 2018 2017
Special payroll tax on pensions Löneskatt på pensionskostnader 36 32
Total Summa 36 32

Provisions

Group 2018‚ MSEK Feared losses not  worked-up Guarantee risk reserve Restoration costs Special payroll tax on pensions Disputes Obligations in joint ventures Other Total
Koncernen 2018. Mkr Ej upparbetad befarad förlust Garanti-

kostnader

Återställ-ningskost-nader Löneskatt på pensions-kostnader Tvister Åtagande i joint ventures Övrigt Totalt
Opening recognized value Redovisat värde vid årets ingång 43 526 137 98 56 47 92 999
Provisions set aside during the year Avsättningar som gjorts under året 1 416 10 19 37 12 79 574
Amounts requisitioned during the year Belopp som tagits i anspråk under året -19 -316 -21 -6 -32 -65 -459
Reversed unutilized provisions during the year Outnyttjade belopp som har återförts under året -9 0 -23 -10 -42
Increase in discounted amounts during the year Ökning under året av diskonterade belopp 1 1
Exchange rate differences Valutakursdifferens 5 0 1 1 2 9
Closing recognized value Redovisat värde vid årets utgång 25 622 127 111 39 60 98 1,082
Of which are long-term provisions Varav långfristig del av avsättningarna 442 124 111 14 60 65 816
Of which are current provisions Varav kortfristig del av avsättningarna 25 180 3 25 33 266

 

Group 2017‚ MSEK Feared losses not worked-up Guarantee risk reserve Restoration costs Special payroll tax on pensions Disputes Commitments for joint ventures Other Total
Koncernen 2017. Mkr Ej upparbetad befarad förlust Garanti-

kostnader

Återställ-ningskost-nader Löneskatt på pensions-kostnader Tvister Åtagande i joint ventures Övrigt Totalt
Opening recognized value Redovisat värde vid årets ingång 37 414 136 85 55 43 66 836
Provisions set aside during the year Avsättningar som gjorts under året 6 189 8 13 31 5 66 318
Increase through business combinations Ökning genom rörelseförvärv 2 1 3
Amounts requisitioned during the year Belopp som tagits i anspråk under året -103 -7 -20 -37 -167
Reversed unutilized provisions during the year Outnyttjade belopp som har återförts under året -11 -10 -2 -23
Reclassifications Omklassificering 35 35
Exchange rate differences Valutakursdifferens 0 0 -2 -1 -3
Closing recognized value Redovisat värde vid årets utgång 43 526 137 98 56 47 92 999
Of which are long-term provisions Varav långfristig del av avsättningarna 342 137 98 47 13 637
Of which are current provisions Varav kortfristig del av avsättningarna 43 184 56 79 362
Parent company, MSEK 2018 2017
Moderbolaget, Mkr 2018 2017
Opening recognized value Redovisat värde vid årets ingång 32 28
Provisions set aside during the year Avsättningar som gjorts under året 6 4
Amounts requisitioned during the year Belopp som tagits i anspråk under året -2
Closing recognized value Redovisat värde vid årets utgång 36 32
Of which are long-term provisions Varav långfristig del av avsättningarna 36 32

Feared losses not worked-up

Feared losses in contract work are expensed as soon as they are known. According to IFRS 15 the part of a feared loss that has not been worked-up is recognized as a provision. Provisions for feared losses not worked-up have been made in all four business areas.

Guarantee risk reserve

Refers to the estimated cost of remedying faults and deficiencies in finished projects that arise while the project is under warranty, rental guarantees as well as repurchasing obligations to tenant-owned associations. Resources are consumed during the guarantee period of the project which is generally two to five years. As the effect of the point in time for payment is not material expected future disbursements are not valued at their current value. Provisions for guarantee risks have been made in all business areas.

Restoration costs

Refers to restoration costs in Industry operations for gravel pits and rock quarries after termination of operations.The provision grows in relation to the amount quarried and is reversed after restoration is complete. The reserved sum is expected to be used successively after operations are terminated. The estimated restoration time is 1 to 15 years. Our calculation of reserved amounts is based on estimated future payments for restoration and reflects Peab’s best assessment taking risks in cash flows into consideration.

Special payroll tax on pensions

There are pension plans where the Group has acquired endowment insurance which is hedged in favor of employees through pledges. Provisions for special payroll tax are reserved calculated on the fair value of the endowment insurance, except in cases where the contract stipulates that the endowment insurance covers special payroll tax.

Disputes

Refers to disputes in business areas Construction and Industry.

Obligations to joint ventures

Refers to participations in joint ventures with a negative consolidated value in the business area Project Development.

Others

Refers to other minor provisions.