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F4 Interest-bearing liabilities | 12 Months Ended
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Dec. 31, 2021
Borrowings [abstract] |
F4 Interest-bearing liabilities |
|  | Interest-bearing liabilities
As of December 31, 2021, the Company’s outstanding interest-bearing liabilities were SEK 31.8 (30.2) billion. I nterest-bearing liabilities (excluding lease obligations)
|  | 2021 |  |  | 2020 |
Borrowings, current |  |  |  |  |  |  |  |
Current part of non-current borrowings |  |  | 9,459 |  |  |  | 5,269 |
Other borrowings, current |  |  | 131 |  |  |  | 2,673 |
Total borrowings, current |  |  | 9,590 |  |  |  | 7,942 |
Borrowings, non-current |  |  |  |  |  |  |  |
Notes and bond loans |  |  | 22,016 |  |  |  | 22,008 |
Other borrowings, non-current |  |  | 225 |  |  |  | 210 |
Total borrowings, non-current |  |  | 22,241 |  |  |  | 22,218 |
Total interest-bearing liabilities |  |  | 31,831 |  |  |  | 30,160 |
Reconciliation of liabilities arising from financing activities (including lease obligations)
|  | 2021 |  |  | 2020 |
Opening balance |  |  | 39,460 |  |  |  | 47,578 |
Cash flows |  |  |  |  |  |  |  |
Proceeds from issuance of borrowings |  |  | 7,882 |  |  |  | 3,220 |
Repayment of borrowings |  |  | (5,791) |  |  |  | (9,031) |
Other financing activities |  |  | (2,128) |  |  |  | 1,568 |
Lease payments |  |  | (2,368) |  |  |  | (2,417) |
Non-cash changes |  |  |  |  |  |  |  |
Effect of foreign exchange movement |  |  | 2,621 |  |  |  | (4,030) |
Revaluation due to changes in credit risk |  |  | (31) |  |  |  | (99) |
Other changes in fair value |  |  | (415) |  |  |  | 136 |
Acquisition of new lease contracts |  |  | 2,009 |  |  |  | 2,604 |
Other non-cash movements |  |  | (105) |  |  |  | (69) |
Closing balance |  |  | 41,134 |  |  |  | 39,460 |
To secure long-term funding, the Company uses notes and bond programs together with bilateral research and development loans. All outstanding notes and bond loans are issued by the Parent Company under its Euro Medium Term Note (EMTN) program or under its US Securities and Exchange Commission (SEC) Registered program. Bonds issued at a fixed interest rate are normally swapped to a floating interest rate using interest rate swaps under the Asset and liability management mandate described in note F1 “Financial risk management.” Total weighted average interest rate cost for the long-term funding during the year was 1.75% (2.18%). Notes, bonds and bilateral loans
Issued-maturing |  | Nominal amount |  |  | Coupon |  |  | Currency |  |  | Maturity date |  |  | Carrying value (SEK million) 2021 |  |  | Changes in fair value due to changes in credit risk 2021 |  |  | Cumulative changes in fair value due to changes in credit risk 2021 |  |  | Carrying value (SEK million) 2020 |
Notes and bond loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2012–2022 |  |  | 1,000 |  |  |  | 4.125% |  |  |  | USD |  |  |  | May 15, 2022 |  |  |  | 9,163 |  |  |  | (86) |  |  |  | 58 |  |  |  | 8,537 |
2017–2021 |  |  | 500 |  |  |  | 0.875% |  |  |  | EUR |  |  |  | Mar 1, 2021 |  |  |  | — |  |  |  | (3) |  |  |  | — |  |  |  | 5,034 |
2017–2024 |  |  | 500 |  |  |  | 1.875% |  |  |  | EUR |  |  |  | Mar 1, 2024 |  |  |  | 5,297 |  |  |  | (27) |  |  |  | 118 |  |  |  | 5,290 |
2017–2025 1) |  |  | 150 |  |  |  | 2.741% |  |  |  | USD |  |  |  | Dec 22, 2025 |  |  |  | 1,393 |  |  |  | 31 |  |  |  | 81 |  |  |  | 1,278 |
2020–2030 1) |  |  | 200 |  |  |  | 3.020% |  |  |  | USD |  |  |  | Dec 30, 2030 |  |  |  | 1,825 |  |  |  | 47 |  |  |  | 115 |  |  |  | 1,698 |
2021–2029 |  |  | 500 |  |  |  | 1.000% |  |  |  | EUR |  |  |  | May 26, 2029 |  |  |  | 5,007 |  |  |  | (26) |  |  |  | (26) |  |  |  | — |
Total notes and bond loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22,685 |  |  |  | (64) |  |  |  | 346 |  |  |  | 21,837 |
Bilateral loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017–2023 2) |  |  | 220 |  |  |  |  |  |  |  | USD |  |  |  | Jun 15, 2023 |  |  |  | 2,033 |  |  |  | 17 |  |  |  | 44 |  |  |  | 1,826 |
2019–2024 3) |  |  | 281 |  |  |  |  |  |  |  | USD |  |  |  | July 31, 2024 |  |  |  | 2,608 |  |  |  | 47 |  |  |  | 62 |  |  |  | 2,320 |
2019–2025 2) |  |  | 150 |  |  |  |  |  |  |  | USD |  |  |  | Dec 18, 2025 |  |  |  | 1,400 |  |  |  | 35 |  |  |  | 44 |  |  |  | 1,237 |
2021–2028 3) |  |  | 305 |  |  |  |  |  |  |  | USD |  |  |  | Jun 21, 2028 |  |  |  | 2,692 |  |  |  | (66) |  |  |  | (66) |  |  |  | — |
Total bilateral loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,733 |  |  |  | 33 |  |  |  | 84 |  |  |  | 5,383 |
1) | Private Placement, Swedish Export Credit Corporation (SEK).
2) | Nordic Investment Bank (NIB), R&D project financing.
3) | European Investment Bank (EIB), R&D project financing.

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