PEAB Annual Report 2018 – Note 38 Pledged assets, contingent liabilities and contingent assets

Note 38 Pledged assets, contingent liabilities and contingent assets

Pledged assets

		Group		Parent company
MSEK		2018	2017	2018	2017
		Koncernen		Moderbolaget
	Mkr	2018	2017	2018	2017
For own liabilities and provisions	För egna skulder och avsättningar
Real estate mortgages ¹⁾	Fastighetsinteckningar ¹⁾	1,730	1,489
Assets with retention of title	Tillgångar med äganderättsförbehåll	1,254	1,290
Other	Övrigt	51	49
Other pledged collateral and assets	Övriga ställda panter och säkerheter
Real estate mortgages ²⁾	Fastighetsinteckningar²⁾	–	3
Floating charges	Företagsinteckningar	–	8
Total	Summa	3,035	2,839	–	–

¹⁾ Pledged assets of which SEK 308 million (295) are recognized as fixed assets and SEK 1,422 million (1,194) as current assets.
²⁾ Pledged assets recognized as fixed assets.

Contingent liabilities

		Group		Parent company
MSEK		2018	2017	2018	2017
		Koncernen		Moderbolaget
	Mkr	2018	2017	2018	2017
Shared obligations as partial owners in limited partnerships	Solidariskt ansvar som delägare i handels- och kommanditbolag	102	34	–	–
Surety and contract guarantees for Group companies	Borgen och entreprenadgarantier för koncernföretag	–	–	13,059	9,355
Surety for the benefit of joint arrangements	Borgensförbindelser till förmån för samarbetsarrangemang	2,722	2,718	2,722	2,718
Surety for construction loans to tenant-owned associations ¹⁾	Borgensförbindelser för kreditiv i bostadsrättsföreningar ¹⁾	7,580	7,750	7,580	7,750
Other surety	Övriga borgensförbindelser	–	0	–	0
Total	Summa	10,404	10,502	23,361	19,823

1) For more information concerning guaranties and sureties to tenant-owned associations see note 3.

In most of the tenant-owned associations Peab develops, Peab AB signs guarantees as surety for paid advances and down payments. These guarantees ensure the tenant-owner’s right to repayment of a down payment if the tenant-owner makes a cancellation because of a substantial rise in fees during the first year after the annual meeting where the final cost of the project is presented. After that the guarantee is null and void. Those guarantees or equivalent insurance from an external insurer has never been used and Peab considers it highly unlikely that this will occur in the future. The guarantees are therefore not reported as contingent liabilities.