Note 31 Provisions

Provisions which are long-term liabilities

Group, MSEK 2021 2020
Koncernen, Mkr 2021 2020
Guarantee risk reserve Garantikostnader 650 747
Restoration costs Återställningskostnader 333 366
Special payroll tax on pensions Löneskatt på pensionskostnader 151 148
Disputes Tvister 13 12
Obligations in joint ventures Åtagande i joint ventures 87 108
Other Övrigt 79 100
Total Summa 1,313 1,481

Provisions which are current liabilities

Group, MSEK 2021 2020
Koncernen, Mkr 2021 2020
Feared losses not worked-up Ej upparbetad befarad förlust 66 23
Guarantee risk reserve Garantikostnader 107 103
Disputes Tvister 25 15
Other Övrigt 42 48
Total Summa 240 189

Provisions

Parent company, MSEK 2021 2020
Moderbolaget, Mkr 2021 2020
Special payroll tax on pensions Löneskatt på pensionskostnader 45 43
Total Summa 45 43
Group 2021‚ MSEK Feared losses not  worked-up Guarantee risk reserve Restoration costs Special payroll tax on pensions Disputes Obligations in joint ventures Other Total
Koncernen 2021. 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 23 850 366 148 27 108 148 1,670
Provisions set aside during the year Avsättningar som gjorts under året 46 516 24 52 19 21 32 710
Amounts requisitioned during the year Belopp som tagits i anspråk under året -3 -595 -27 -19 -9 -44 -59 -756
Provisions in acquired companies Avsättningar i förvärvade företag 1 4  

 

 5
Reversed unutilized provisions during the year Outnyttjade belopp som har återförts under året -23 -41 -30 -2 -96
Exchange rate differences Valutakursdifferens 8 7 1 2 2 20
Closing recognized value Redovisat värde vid årets utgång 66 757 333 151 38 87 121 1,553
Of which are long-term provisions Varav långfristig del av avsättningarna 650 333 151 13 87 79 1,313
Of which are current provisions Varav kortfristig del av avsättningarna 66 107 25 42 240

 

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

 

Parent company, MSEK 2021 2020
Moderbolaget, Mkr 2021 2020
Opening recognized value Redovisat värde vid årets ingång 43 41
Provisions set aside during the year Avsättningar som gjorts under året 20 14
Amounts requisitioned during the year Belopp som tagits i anspråk under året -15 -12
Reversed unutilized provisions

during the year

 Outnyttjade belopp som har återförs under året -3 –
Closing recognized value Redovisat värde vid årets utgång 45 43
Of which are long-term provisions Varav långfristig del av avsättningarna 45 43

 

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.