N O TE 40 T ransactions with relat ed partie s T r ansactions bet w een the Parent Compan y and subsidiaries are priced in accor dance with business principles. T h E P ARENT C O m P AN y ’S TRANSA CTIONS WIT h REL A TED P AR TIE S C O m PRISE: M SEK 2012 2011 2010 License fees and other income from subsidiaries 977.2 836.0 942.7 R esult of sale of shares in subsidiaries -9.1 96.3 1 – Dividends from subsidiaries 2 11   875.5 4 679.1 6 035.9 Group contributions from subsidiaries 2 498.1 348.6 57.8 Group contributions to subsidiaries -3.7 -29.9 -497.4 Interes t income from subsidiaries 162.9 149.0 119.7 Interes t e xpenses to subsidiaries -267.3 -346.5 -145.7 Guar antees issued on behalf of subsidiaries 1  591.7 1 462.7 1 578.8 Guar antees issued on behalf of associated companies 4.9 73.2 63.0 1 Included on the line other oper atin g income in the s t atement of income . Comprises dividend of M SEK 29.3 from the Group ’ s disposed joint v enture Securit as Direct S . A . in S witz erland and a capit al gain from the sale of the shares in this compan y of M SEK 67.0. 2 Group contributions from subsidiaries w ere pre vious y ear s included in dividends from subsidiaries. N O TE 41 Financial risk management The Parent Compan y follo ws, as s t ated in note 39, IAS 39 Financial ins truments: R ecognition and measurement . R efer to note 2 and note 6 for further information about fnancial risks that are applicable also for the Parent Compan y . LIQUIDIT Y REP OR T AS PER DECEMBER 31, 2011–2012 M SEK T ot al < 1 y ear Bet w een 1 y ear and 5 y ear s > 5 y ear s December 31, 2012 Borro win g s -18 000 -8 321 -6 718 -2 961 Deriv ativ es outfo ws -16 255 -16 230 -24 -1 Accounts pa y able -11 -11 – – T ot al outfo ws -34 266 -24 562 -6 742 -2 962 In v es tments 4 871 4 692 179 – Deriv ativ es receipts 16 415 16 245 150 20 T ot al info ws 21 286 20 937 329 20 Net cash fo ws, tot al 1 -12 980 -3 625 -6 413 -2 942 December 31, 2011 Borro win g s -22 099 -13 221 -8 530 -348 Deriv ativ es outfo ws -11 923 -11 890 -33 – Accounts pa y able -12 -12 – – T ot al outfo ws -34 034 -25 123 -8 563 -348 In v es tments 3 561 3 259 302 – Deriv ativ es receipts 11 933 11 877 56 – T ot al info ws 15 494 15 136 358 – Net cash fo ws, tot al 1 -18 540 -9 987 -8 205 -348 1 V ariable r ate cash fo ws ha v e been es timated usin g the rele v ant yield cur v e . 124 Securit as Annual R eport 2012 Annual R eport Notes and comments to the Parent Compan y fnancial s t atements