N O TE 33 Short t erm loan liabilitie s 1 M SEK 2012 2011 2010 EM TN Nom ME UR 500 2009 2013 Annual 650 2 4 3024 EM TN Nom M SEK 1 000 2011 2013 FRN Quarterly 9999 EM TN Nom M SEK 1 000 2011 2012 FRN Quarterly 9998 Commercial paper issued 2 2 7886 2 1393 f inance leases 468 484 484 Other short term loans 3 5810 6265 1 6614 T ot al short term loan liabilities e x cludin g deriv ativ es 5 9301 4 4633 3 8491 Cash fo w hed g es 4 Deriv ativ es with ne gativ e fair v alue short term 75 40 87 Other deriv ativ e positions 5 Deriv ativ es with ne gativ e fair v alue short term 484 212 94 T ot al short term loan liabilities 5 9860 4 4885 3 8672 1 F or further information re gar din g fnancial ins truments refer to note 6 2 Commercial paper is issued b y the Parent Compan y within the fr amew ork of a M SEK 5 000 S w edish commercial paper progr am Commercial paper is accounted for at the issued amount that is belo w par 3 Other short term loans 2012 and 2011 include loans r aised within the fr amew ork of the Group s 2016 Multi Currenc y R e v olvin g Credit F acilit y Other short term loans 2010 include loans r aised within the fr amew ork of the Group s 2012 Multi Currenc y R e v olvin g Credit F acilit y 4 R elated to deriv ativ es designated for hed g in g 5 R elated to fnancial liabilities at fair v alue throug h proft or loss N O TE 34 O ther current liabilitie s M SEK 2012 2011 2010 Emplo y eerelated items 5 8405 5 8108 5 4437 Accrued interes t and fnancial e xpenses 2829 2399 2193 Other accrued e xpenses and deferred income 6450 6817 6562 Adv ance pa yments from cus tomer s 4274 2392 2149 v alue added t ax 1 0931 1 0542 1 0205 Deferred consider ations 2247 1667 977 Other items 5946 6011 5750 T ot al other current liabilities 9 1082 8 7936 8 2273 N O TE 35 Short t erm pro visions D ECEMBER 31 2012 M SEK Claims reser v es Spain o v ertime compensation Cos t sa vin g s progr am 1 Other pro visions T ot al Openin g balance 6628 1162 7790 R eclassifcation 76 732 53 1151 1754 New increased pro visions 3091 4580 240 7911 u tiliz ed pro visions 3396 105 1524 276 5301 R e v er sal of unutiliz ed pro visions 37 227 538 802 T r anslation diferences 348 59 407 Closin g balance 5862 400 3003 1680 1 0945 1 f urther information re gar din g the cos t sa vin g s progr am is pro vided in note 11 Claims reser v es Liabilit y insur ancerelated claims reser v es primarily consis t of pro visions for the portion of claims pa y able b y the Group that is its self retention Spain o v ertime compensation All ma jor securit y companies in Spain ha v e been compensatin g their emplo y e e s in respect of o v ertime w ork in accor dance with a labor a greement co v erin g the period 2005 to 2008 In F ebruar y 2007 the Spanish Supreme Court ruled that the o v ertime compensation under the e xis tin g labor a greement w as not in compliance with Spanish la w The potential e xposure in respect of o v ertime compensation pa y able to emplo y ees of the securit y ser vices and guar din g companies in Spain his tori cally increased due to the failure of the ma jor securit y companies and the local unions to ne g otiate a set tlement a greement on the o v ertime compensation A petition w as lod g ed with a lo w er court in Spain seekin g specifc guidance as to ho w o v ertime compensation should be calculated A jud gment w as rendered in Januar y 2008 g ivin g guidelines on calculation of o v ertime p a y w h i c h s u b s t antially accepted the views of the emplo y er s This jud gment w a s a p p e a l e d b y the local unions In December 2009 the Spanish Supreme Court o v erruled the court decision from Januar y 2008 The Supreme Court confrmed its decision from F ebruar y 2007 which meant that each claim for o v ertime pa y should be tried on a case b y case basis The Supreme Court thereb y chan g ed the basis for the comput ation of o v ertime compensation The Supreme Court jud gment cannot be appealed The Court s decision meant that Securit as had to prepare for se v er al suits from emplo y ees and former emplo y ees in respect of his toric o v ertime compensation In the absence of fnal guidance on o v ertime compensation Securit as has chosen to apply the guidelines g iv en b y the court in Januar y 2008 for salar y pa yments paid in 2008 and 2009 These guidelines ha v e durin g 2012 been confrmed b y a new decision b y the Supreme Court in Spain and Securit as will continue to apply these guidelines A le gal opinion r e q u e s t e d b y the indus tr y association in Spain in which Securit as is a member h a s c o n cluded that the time for flin g a claim for the subject o v ertime mat ter s e n d e d on December 4 2010 due to the s t atute of limit ation Durin g 20112012 more than 7 500 cases for o v ertime pa y has been adjudicated b y court In cases where Securit as has los t the cases compensation has been paid As a result of the increased number of claims ha vin g been decided in court and subsequently set tled durin g the cour se of 2012 Group M ana g ement has obt ained a bet ter visibilit y re gar din g the e xposure and the probable outfo w that will be necessar y in or der to set tle the o v ertime compensation claims Group M ana g ement has based on this decided to release M SEK 227 ME UR 26 from the pro vision at the end of 2012 The remainin g pro vision amounts to M SEK 400 ME UR 47 which is deemed sufcient for the remainin g e xposure B ased on the number of claims decided and set tled durin g 2012 mana g ement s es timate is that mos t of the pro vision will be utiliz ed within the comin g 12 months The pro vision has consequently been reclassifed from lon g term pro visions at the end of 2012 T ot al cash pa yments for the o v ertime compensation amounted to M SEK 379 durin g 2012 whereof M SEK 274 is accounted for under lon g term pro visions note 35 and M SEK 105 is accounted for under short term pro visions in the t able abo v e 116 Annual R eport Notes and comments to the consolidated fnancial s t atements Securit as Annual R eport 2012