Note 32 Provisions

Provisions which are long-term liabilities

Group, MSEK 2020 2019
Koncernen, Mkr 2020 2019
Guarantee risk reserve Garantikostnader 747 437
Restoration costs Återställningskostnader 366 131
Special payroll tax on pensions Löneskatt på pensionskostnader 148 138
Disputes Tvister 12 13
Obligations in joint ventures Åtagande i joint ventures 108 74
Other Övrigt 100 73
Total Summa 1,481 866

Provisions which are current liabilities

Group, MSEK 2020 2019
Koncernen, Mkr 2020 2019
Feared losses not worked-up Ej upparbetad befarad förlust 23 24
Guarantee risk reserve Garantikostnader 103 98
Disputes Tvister 15 29
Other Övrigt 48 63
Total Summa 189 214

Provisions

Parent company, MSEK 2020 2019
Moderbolaget, Mkr 2020 2019
Special payroll tax on pensions Löneskatt på pensionskostnader 43 41
Total Summa 43 41

 

Group 2020‚ MSEK Feared losses not  worked-up Guarantee risk reserve Restoration costs Special payroll tax on pensions Disputes Obligations in joint ventures Other Total
Koncernen 2020. 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 24 535 131 138 42 74 136 1,080
Provisions set aside during the year Avsättningar som gjorts under året 2 567 28 25 2 41 54 719
Amounts requisitioned during the year Belopp som tagits i anspråk under året -348 -2 -15 -13 -2 -45 -425
Provisions in acquired companies Avsättningar i förvärvade företag 124 239 8 371
Reversed unutilized provisions during the year Outnyttjade belopp som har återförts under året -2 -7 -2 0 -2 -2 -15
Increase in discounted amounts during the year Ökning under året av diskonterade belopp 1 1
Exchange rate differences Valutakursdifferens -1 -21 -29 -2 -5 -3 -61
Closing recognized value Redovisat värde vid årets utgång 23 850 366 148 27 108 148 1,670
Of which are long-term provisions Varav långfristig del av avsättningarna 747 366 148 12 108 100 1,481
Of which are current provisions Varav kortfristig del av avsättningarna 23 103 15 48 189

 

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-ningskostnader 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 3 317 13 40 14 17 50 454
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 24 535 131 138 42 74 136 1,080
Of which are long-term provisions Varav långfristig del av avsättningarna 437 131 138 13 74 73 866
Of which are current provisions Varav kortfristig del av avsättningarna 24 98 29 63 214

 

Parent company, MSEK 2020 2019
Moderbolaget, Mkr 2020 2019
Opening recognized value Redovisat värde vid årets ingång 41 36
Provisions set aside during the year Avsättningar som gjorts under året 14 14
Amounts requisitioned during the year Belopp som tagits i anspråk under året -12 -9
Closing recognized value Redovisat värde vid årets utgång 43 41
Of which are long-term provisions Varav långfristig del av avsättningarna 43 41

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 as well as rental guarantees. 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 in 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.