Note 31 Provisions

Provisions which are long-term liabilities

Group, MSEK 2019 2018
Koncernen, Mkr 2019 2018
Guarantee risk reserve Garantikostnader 513 442
Restoration costs Återställningskostnader 131 124
Special payroll tax on pensions Löneskatt på pensionskostnader 138 111
Disputes Tvister 13 14
Obligations in joint ventures Åtagande i joint ventures 74 60
Other Övrigt 73 65
Total Summa 942 816

Provisions which are current liabilities

Group, MSEK 2019 2018
Koncernen, Mkr 2019 2018
Feared losses not worked-up Ej upparbetad befarad förlust 24 25
Guarantee risk reserve Garantikostnader 98 180
Restoration costs Återställningskostnader – 3
Disputes Tvister 29 25
Other Övrigt 63 33
Total Summa 214 266

Provisions

Parent company, MSEK 2019 2018
Moderbolaget, Mkr 2019 2018
Special payroll tax on pensions Löneskatt på pensionskostnader 41 36
Total Summa 41 36
Group 2019‚ MSEK Feared losses not  worked-up Guarantee risk reserve Restoration costs Special payroll tax on pensions Disputes Obligations in joint ventures Other Total
Koncernen 2019. 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 25 622 127 111 39 60 98 1,082
Provisions set aside during the year Avsättningar som gjorts under året 3 393 13 40 14 17 50 530
Amounts requisitioned during the year Belopp som tagits i anspråk under året -4 -407 -11 -13 -5 -2 -9 -451
Reversed unutilized provisions during the year Outnyttjade belopp som har återförts under året -7 -2 -4 -13
Increase in discounted amounts during the year Ökning under året av diskonterade belopp 1 1
Exchange rate differences Valutakursdifferens 3 1 1 1 1 7
Closing recognized value Redovisat värde vid årets utgång 24 611 131 138 42 74 136 1,156
Of which are long-term provisions Varav långfristig del av avsättningarna 513 131 138 13 74 73 942
Of which are current provisions Varav kortfristig del av avsättningarna 24 98 29 63 214

 

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
Parent company, MSEK 2019 2018
Moderbolaget, Mkr 2019 2018
Opening recognized value Redovisat värde vid årets ingång 36 32
Provisions set aside during the year Avsättningar som gjorts under året 14 6
Amounts requisitioned during the year Belopp som tagits i anspråk under året -9 -2
Closing recognized value Redovisat värde vid årets utgång 41 36
Of which are long-term provisions Varav långfristig del av avsättningarna 41 36

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 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.