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E1 Equity | 12 Months Ended
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Dec. 31, 2021
Equity [abstract] |
E1 Equity |
|  | Equity
Capital stock Capital stock at December 31, 2021 and 2020 , consisted of the following:
Capital stock |
Parent Company |  | Number of shares |  |  | Capital stock (SEK million) |
Class A shares |  |  | 261,755,983 |  |  |  | 1,309 |
Class B shares |  |  | 3,072,395,752 |  |  |  | 15,363 |
Total |  |  | 3,334,151,735 |  |  |  | 16,672 |
The capital stock of the Parent Company is divided into two classes: Class A shares (quota value SEK 5.00) and Class B shares (quota value SEK 5.00). Both classes have the same rights of participation in the net assets and earnings. Class A shares, however, are entitled to one vote per share while Class B shares are entitled to one tenth of one vote per share. At December 31, 2021, the total number of treasury shares was 4,009,306 (6,043,960 in 2020 and 19,853,247 in 2019) Class B shares.
Number of shares |
|  | Number of shares |  |  | Capital stock (SEK million) |
Number of shares Jan 1, 2021 |  |  | 3,334,151,735 |  |  |  | 16,672 |
Number of shares Dec 31, 2021 |  |  | 3,334,151,735 |  |  |  | 16,672 |
Dividend proposal The Board of Directors propose a dividend for 2021 of SEK 2.50 per share (SEK 2.00 in 2020 and SEK 1.50 in 2019) to the Annual General Meeting. The dividend is proposed to be paid in two equal installments, SEK 1.25 per share with the record date March 31, 2022, and SEK 1.25 per share with the record date September 30, 2022. Additional paid in capital Additional paid in capital relates to payments made by owners and includes share premiums paid. Other reserves Other reserves include translation reserves, cash flow hedges and revaluation of borrowings. Translation reserves (cumulative translation adjustments) The cumulative translation adjustments comprise all foreign currency translation reserves arising from the translation of the financial statements of foreign operations to the Group presentation currency and changes regarding revaluation of excess value in local currency. Cash flow hedge reserve For further information, see note F1 “Financial risk management.” Revaluation of borrowings For further information, see note F4 “Interest-bearing liabilities.” Retained earnings Retained earnings, including net income for the year, comprise the earned profits of the Parent Company and its share of net income in subsidiaries, joint ventures and associated companies. Retained earnings also include remeasurements related to post-employment benefits. Remeasurements related to post-employment benefits Actuarial gains and losses resulting from experience-based events and changes in actuarial assumptions, fluctuations in the effect of the asset ceiling, and adjustments related to the Swedish special payroll taxes. For more information, see note G1 “Post-employment benefits.” Non-controlling interests Equity in a subsidiary not attributable, directly or indirectly, to a parent.
Other reserves |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2021 |  |  | 2020 |
|  | Translation reserves |  |  | Cash flow hedge reserve |  |  | Revaluation of borrowings |  |  | Total other reserves |  |  | Translation reserves |  |  | Cash flow hedge reserve |  |  | Revaluation of borrowings |  |  | Total other reserves |
Opening balance |  |  | (2,424) |  |  |  | 101 |  |  |  | (366) |  |  |  | (2,689) |  |  |  | 2,967 |  |  |  | (230) |  |  |  | (445) |  |  |  | 2,292 |
Other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Items that will not be reclassified to profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revaluation of borrowings due to change in credit risk |  |  | — |  |  |  | — |  |  |  | 31 |  |  |  | 31 |  |  |  | — |  |  |  | — |  |  |  | 99 |  |  |  | 99 |
Tax on items that will not be reclassified to profit or loss |  |  | — |  |  |  | — |  |  |  | (6) |  |  |  | (6) |  |  |  | — |  |  |  | — |  |  |  | (20) |  |  |  | (20) |
Items that have been or may be reclassified to profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gains/losses arising during the period |  |  | — |  |  |  | (542) |  |  |  | — |  |  |  | (542) |  |  |  | — |  |  |  | 136 |  |  |  | — |  |  |  | 136 |
Reclassification to profit and loss |  |  | — |  |  |  | (96) |  |  |  | — |  |  |  | (96) |  |  |  | — |  |  |  | 281 |  |  |  | — |  |  |  | 281 |
Translation reserves |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in translation reserves |  |  | 3,556 |  |  |  | — |  |  |  | — |  |  |  | 3,556 |  |  |  | (5,434) |  |  |  | — |  |  |  | — |  |  |  | (5,434) |
Reclassification to profit and loss |  |  | 46 |  |  |  | — |  |  |  | — |  |  |  | 46 |  |  |  | 124 |  |  |  | — |  |  |  | — |  |  |  | 124 |
Share of other comprehensive income of JV and associated companies |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | (81) |  |  |  | — |  |  |  | — |  |  |  | (81) |
Tax on items that have been or may be reclassified to profit or loss |  |  | — |  |  |  | 126 |  |  |  | — |  |  |  | 126 |  |  |  | — |  |  |  | (86) |  |  |  | — |  |  |  | (86) |
Other comprehensive income, net of tax |  |  | 3,630 |  |  |  | (512) |  |  |  | 25 |  |  |  | 3,143 |  |  |  | (5,391) |  |  |  | 331 |  |  |  | 79 |  |  |  | (4,981) |
Total comprehensive income |  |  | 3,630 |  |  |  | (512) |  |  |  | 25 |  |  |  | 3,143 |  |  |  | (5,391) |  |  |  | 331 |  |  |  | 79 |  |  |  | (4,981) |
Closing balance |  |  | 1,206 |  |  |  | (411) |  |  |  | (341) |  |  |  | 454 |  |  |  | (2,424) |  |  |  | 101 |  |  |  | (366) |  |  |  | (2,689) |

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