Industrial Operations   Customer Finance   Eliminations   Volvo Group
    Dec 31 Dec 31   Dec 31 Dec 31   Dec 31 Dec 31   Dec 31 Dec 31
SEK M   2011 2010   2011 2010   2011 2010   2011 2010
Assets                        
Non–current assets                        
Intangible assets Note 12 39,385 40,613   122 101     39,507 40,714
Tangible assets Note 13                      
   Property, plant and equipment   53,563 53,221   94 72     53,657 53,294
   Investment property   883 948       883 948
   Assets under operating leases   16,749 13,217   11,525 10,055   (4,352) (3,625)   23,922 19,647
Financial assets                        
   Shares and participation Note 5 1,871 2,080   3 18     1,874 2,098
   Non–current customer–financing receivables Note 15 579 598   44,651 36,270   (4,612) (843)   40,618 36,025
   Deferred tax assets Note 10 12,480 12,019   358 291     12,838 12,310
   Prepaid pensions Note 20 2,263 1,636   14 12     2,277 1,648
   Non–current interest–bearing receivables Note 16 757 941   204   (63) (379)   694 766
   Other non–current receivables Note 16 4,500 3,401   50 41   (235) (24)   4,315 3,418
Total non–current assets   133,030 128,674   56,817 47,064   (9,262) (4,871)   180,585 170,868
                         
Current assets                        
Inventories Note 17 43,828 38,956   771 882     44,599 39,837
Current receivables                        
   Customer–financing receivables Note 15 1,123 830   38,050 36,897   (1,092) (1,064)   38,081 36,663
   Tax assets   1,152 1,045   48 90     1,200 1,135
   Interest–bearing receivables Note 16 1,461 1,071   226 1,283   (1,020) (2,012)   667 342
   Internal funding(1   2,253 7,505     (2,253) (7,505)  
   Accounts receivable Note 16 27,492 24,332   207 101     27,699 24,433
   Other receivables Note 16 13,438 11,561   1,411 1,352   (1,024) (1,056)   13,825 11,857
Non interest–bearing assets held for sale Note 3 9,344 136       9,344 136
Interest–bearing assets held for sale Note 3 4       4
Marketable securities Note 18 6,838 9,735   24 32     6,862 9,767
Cash and cash equivalents Note 18 29,113 21,756   1,593 1,545   (327) (335)   30,379 22,966
Total current assets   136,046 116,928   42,330 42,182   (5,717) (11,970)   172,659 147,139
Total assets   269,076 245,602   99,147 89,246   (14,979) (16,841)   353,244 318,007
                         
Shareholders’ equity and liabilities Note 19                      
Equity attributable to the equity holder of the Parent Company   75,582 65,090   8,999 8,020     84,581 73,110
Minority interests   1,100 1,011       1,100 1,011
Total shareholders’ equity   76,682 66,101   8,999 8,020     85,681 74,121
                         
Non–current provisions                        
   Provisions for post–employment benefits Note 20 6,635 7,478   30 32     6,665 7,510
   Provisions for deferred taxes Note 10 4,171 3,026   1,465 1,496     5,636 4,522
   Other provisions Note 21 5,492 5,785   154 150   2 1   5,648 5,936
Non–current liabilities Note 22                      
   Bond loans   38,192 38,767       38,192 38,767
   Other loans   38,848 37,180   8,974 8,225   (57) (78)   47,765 45,327
   Internal funding(1   (35,453) (26,971)   33,459 25,927   1,994 1,044  
   Other liabilities   12,902 11,172   740 389   (3,195) (2,330)   10,447 9,231
Current provisions Note 21 9,438 8,429   92 105   1 1   9,531 8,534
Current liabilities Note 22                      
   Loans   38,644 32,101   6,741 8,299   (863) (799)   44,522 39,601
   Internal funding(1   (24,837) (21,220)   35,373 33,643   (10,536) (12,423)  
   Non interest–bearing liabilities held for sale Note 3 4,710 135       4,710 135
   Interest–bearing liabilities held for sale Note 3 6       6
   Trade payables   56,546 47,111   242 139     56,788 47,250
   Tax liabilities   2,220 1,571   171 161     2,391 1,732
   Other liabilities   34,880 34,937   2,707 2,660   (2,325) (2,257)   35,262 35,341
Total shareholders’ equity and liabilities   269,076 245,602   99,147 89,246   (14,979) (16,841)   353,244 318,007
                         
1) Internal funding is internal lending from Industrial Operations to Customer Finance.