A N N UA L R E P O R T
Notes
were no outstanding forward exchange contracts (see also Note 7).
Other financial liabilities are recognised at amortised cost.
However, liabilities attributable to future minimum leasing fees under
finance leases are recognised at present value.
statement during the period in which the employee performed the
services and that the contributions pertain to.
The defined benefit plans pertain in all essential respects to
obligations for retirement pensions and family pensions for salaried
employees in Sweden, which are secured through insurance with
the pensions institution Alecta. According to a statement from
the Swedish Financial Reporting Board, UFR 10, this is classified
a defined benefit multi-employer plan. For the 2015 financial year,
the Group did not have access to the type of information required
for recognising these plans as defined benefit plans. As a result,
the ITP (individual supplementary pension) plans that are secured
through insurance with Alecta are recognised as defined contribution
plans. Contributions are recognised as personnel costs in profit or
loss when they fall due for payment. Fees for pension insurance
taken out with Alecta in 2015 amounted to SEK 5,348 thousand
(4,907 thousand) and are expected to be roughly the same in 2016.
Alecta’s surplus can be distributed to the policyholders and/or
insureds. At year-end, the pensions institution’s surplus in the form
of its collective funding ratio was 153 per cent (143). The collective
funding ratio is defined as the market value of Alecta’s assets as a
percentage of its insurance obligations calculated using Alecta’s
actuarial assumptions, which are not compatible with IAS 19
The German company Transcat PLM GmbH acquired in
2015 (nam