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, % 4.9 4.1 10.0 5.1 – – – 4.6 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 non-current 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 non-current 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 – – – – – – – 1.15 Assets and liabilities Non-interes t -bearin g assets 10 702 11 473 3 557 4 891 899 31 522 -152 31 370 u nallocated non-interes 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 Non-interes t -bearin g liabilities 3 387 6 345 1 683 1 759 316 13 490 -152 13 338 u nallocated non-interes 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 non-acquisition 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