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10. Receivables from Group companies
  2007 2006
Opening balance, January 1 76 2,812
Repayments –1 –2,341
Foreign exchange loss –5 –395
Closing balance, December 31 70 76
11. Other receivables
  2007 2006
Current financial receivables 107 155
VAT receivables 4 4
Other current receivables 3 2
Closing balance, December 31 114 161
12. Prepaid expenses and accrued income
  2007 2006
Accrued interest income, non-Group companies 21 23
Prepaid rent 3 –
Other prepaid expenses 19 10
Closing balance, December 31 43 33
13. Equity
For information regarding the change in Parent Company equity see Changes in Parent Company equity on page 82.
Number of registered shares in the Parent Company
     
  2007 2006
Issued, as of January 1 280,000,000 324,596,181
Cancellation –13,000,000 –44,596,181
Issued, as of December 31 267,000,000 280,000,000
Buy-back of shares
Buy-back of shares encompass the acquisition cost for treasury shares owned by the Parent Company. At December 31, 2007, the Parent Company’s holding of treasury shares amounted to 11,125,200 shares (5,632 ,019).
Dividend
After the Balance-sheet date, the Board proposed that the dividend for the year amount to 3.50 SEK (2.50) per share. The dividend then amounts to 896 MSEK based on the number of shares outstanding at the end of 2007.
Prior year total dividend amounted to 664 MSEK.
14. Untaxed reserves
  2007 2006
Excess amortization
Intangible assets		    
Opening balance January 1 24 35
Excess amortization for the year –11 –11
Closing balance, December 31 13 24
15. Liabilities to credit institutions/bond loans
Liabilities due for payment later than five years after the balance-sheet date amount to 3,278 MSEK (3,259). Liabilities to credit institutions consist of the current portion of bond loans 1,172 MSEK (298).
16. Liabilities to Group companies
Liabilities due for payment later than five years after the balance-sheet date amount to 18,100 MSEK (0).
17. Accrued expenses and prepaid income
  2007 2006
Personnel expense 50 53
Accrued bonus incl. social security charges 13 9
Other accrued expenses 8 11
Closing balance, December 31 71 73
18. Pledged assets and contingent liabilities
  2007 2006
Cash and bank 2 2
Closing balance, December 31 2 2
     
  2007 2006
Guarantees for Group companies 888 900
Guarantees for external companies 12 25
Closing balance, December 31 900 925
19. Related parties
Summary of transactions with related parties            
Nature of relations Year Sale of goods Sale of services Purchase of services Net interest Dividends and group contributions Receivables Liabilities Contingent liabilities
Subsidiary 2007 0 45 23 –414 24,322 4,418 27,473 888
Subsidiary 2006 1 40 24 57 7,345 5,492 7,085 900
                   
Associated company 2007 4         –    
Associated company 2006 11         2    
Transactions with related parties are determined at an arms-length basis. For remunerations to leading executives, see Note 6 for the Group.
20. Group companies
  2007 2006
Cost at beginning of year 15,779 11,157
Acquisitions 18,513 11
Transferred from Other non-current investments – 10
Acquisitions through distribution 23,165 –
Divestments 0 –45
Shareholder’s contribution 1,325 4,646
Liquidation –91 –
Cost at end of year 58,691 15,779
  2007 2006
Revaluations at beginning of year 3,045 3,045
Impairments –1,400 –
Revaluations at end of year 1,645 3,045
  2007 2006
Impairments at beginning of year –3,183 –3,228
Impairments –5,152 –
Divestments – 45
Impairments at end of year –8,335 –3,183
Net book value at end of year 52,001 15,641
Impairments for the year are reported in the income from participations in Group companies in the income statement.
Shares in subsidiaries, directly owned
Subsidiary/Corp. Reg.no./Reg. Office Number of shares Ownership, % Dec. 31,
2007 Net
book value		 Dec. 31,
2006 Net
book value
Swedish Match North Europe AB, 556571-6924, Stockholm   1,000 100 15,750 –
Svenska Tändsticksbolaget försäljningsaktiebolag, 556012-2730, Stockholm 34,403,000 100 3,006 3,006
Swedish Match Distribution AB, 556571-7039, Stockholm   1,000 100 2,350 –
Intermatch Sweden AB, 556018-0423, Stockholm   710,000 100 167 167
Swedish Match Industries AB, 556005-0253, Tidaholm   30,853 100 95 95
Swedish Match United Brands AB, 556345-7737, Stockholm   200,000 100 32 32
Svenskt Snus AB, 556367-1261, Stockholm   1,000 100 1 1
Svenska Tobaks AB, 556337-4833, Stockholm   8,000 100 1 1
Tobak Fastighets AB, 556367-1253, Stockholm   2,000 100 0 0
Svenska Tändsticks AB, 556105-2506, Stockholm   1,000 100 0 0
Tobaksmonopolet 1 KB, 969646-5187, Stockholm   – – – 20
Swedish Match Treasury SEK NV   9,999,999 99.99 18,101 –
Swedish Match Treasury USD NV   999,999 99.99 5,065 –
Swedish Match Treasury EUR NV   20,169 99.99 429 –
Swedish Match Group BV   20,900,000 100 3,931 5,331
General Cigar Holdings, Inc.1)   11,204,918 63.52 1,573 1,573
Swedish Match North America Inc   100 100 849 849
General Cigar Dominicana, S.A.   8,972,394 99.99 387 –
DM Holding USA Inc.   1,000 100 207 –
Swedish Match Sales.com B.V.   100 100 40 4,566
Honduras American Tabaco, S.A. de C.V.   226,972 99.77 18 –
Nitedals Taendstiker A/S   500 100 1 1
SA Allumettiére Causemille2)   10,000 100 0 0
The Burma Match Co Ltd3)   300,000 100 0 0
Vulcan Trading Co. Ltd4)   4,000 100 0 0
Net book value at end of year       52,001 15,641
1) Remaining shares owned by subsidiary.          
2) Nationalized in 1963.          
3) Nationalized in 1968.          
4) Nationalized in 1969.