J AN u AR y DECE m BER 2012 M SEK Securit y Ser vices North America Securit y Ser vices Europe m obile and m onitorin g Securit y Ser vices Ibero America Other T ot al se gments E limina tions Group Income Sales e xternal 23 488 27 119 5 921 9 032 898 66 458 66 458 Sales intr a group 4 66 244 3 317 317 T ot al sales 23 492 27 185 6 165 9 032 901 66 775 317 66 458 Organic sale s gro w th 1 1 1 3 0 Oper atin g income before amortization 1 1 157 1 102 619 465 258 3 085 3 085 o f which share in inc ome o f as sociat ed c ompanie s 3 3 3 Operating margin 49 41 100 51 46 Amortization and impairment of acquisition related int an g ible assets 33 118 51 71 24 297 297 Acquisition related cos ts 3 2 17 41 14 49 49 Items afectin g compar abilit y 74 165 137 45 3 424 424 Oper atin g income after amortization 1 047 817 414 308 271 2 315 2 315 f inancial income and e xpenses 573 Income before t ax es 1 742 T ax es 530 Net income for the y ear 1 212 Oper atin g cash fo w Oper atin g income before amortization 1 157 1 102 619 465 258 3 085 3 085 In v es tments in noncurrent t an g ible and int an g ible assets 152 362 361 125 39 1 039 1 039 R e v er sal of depreciation 1 160 345 343 87 11 946 946 Chan g e in oper atin g capit al emplo y ed 59 49 222 122 27 209 209 Cash fo w from oper atin g activities 1 106 1 036 823 549 313 3 201 3 201 C ash fo w from operating activitie s 96 94 133 118 104 Capit al emplo y ed and fnancin g Oper atin g noncurrent assets 784 1 128 866 399 198 3 375 3 375 Accounts receiv able 3 521 4 205 576 2 139 128 10 569 79 10 490 Other assets 291 695 229 372 1 973 3 560 73 3 487 Other liabilities 3 387 6 345 1 683 1 759 1 750 14 924 152 14 772 T ot al oper atin g capit al emplo y ed 1 209 317 12 1 151 549 2 580 2 580 Operating capit al emplo y ed as o f sale s 5 1 0 13 4 G oodwill 5 997 4 812 1 672 1 542 252 14 275 14 275 Acquisition related int an g ible assets 109 633 214 439 107 1 502 1 502 Shares in associated companies 108 108 108 T ot al capit al emplo y ed 7 315 5 128 1 874 3 132 1 016 18 465 18 465 Re t urn on capit al emplo y ed 15 18 26 13 14 Net debt 9 865 Shareholder s equit y 8 600 T ot al fnancin g 18 465 Ne t deb t equit y ratio multiple 115 Assets and liabilities Noninteres t bearin g assets 10 702 11 473 3 557 4 891 899 31 522 152 31 370 u nallocated noninteres t bearin g assets 2 1 867 u nallocated interes t bearin g assets 5 221 T ot al assets 38 458 Shareholder s equit y 8 600 Noninteres t bearin g liabilities 3 387 6 345 1 683 1 759 316 13 490 152 13 338 u nallocated noninteres t bearin g liabilities 2 1 434 u nallocated interes t bearin g liabilities 15 086 T ot al liabilities 29 858 T ot al shareholder s equit y and liabilities 38 458 1 Depreciation and amortization of t an g ible and nonacquisition related int an g ible assets per se gment are specifed on the line R e v er sal of depreciation in the s t atement of cash fo w abo v e f urther information re gar din g depreciation and amortization is pro vided in note 13 2 Included in Other in the t able Capit al emplo y ed and fnancin g 96 Annual R eport Notes and comments to the consolidated fnancial s t atements Securit as Annual R eport 2012