New Wave Group AB Annual report 2017 EN | Page 109

FINANCIAL INFORMATION CAPITAL MEASURES DEFINITION/CALCULATION PURPOSE EQUITY The equity reported in the consolidated balance sheet consists of taxed equity increased by the equity portion of the Group's untaxed reserves and noncontrolling interests. Deferred tax liability in untaxed reserves has been calculated at a 22.0 % rate for Swedish companies and at the applicable tax rate for foreign companies in each country outside Sweden. The measure is the difference between the Group's assets and liabilities, which corresponds to the Group's equity contributed by owners and the Group's accumulated profits. CAPITAL EMLOYED Total assets less provisions and non-interest bearing liabilities, which consist of accounts payable, current tax liabilities, other liabilities and accrued expenses and prepaid income. The measure indicates how much capital is needed to run the business, regardless of type of financing (borrowed or equity). WORKING CAPITAL Total current assets, excluding liquid assets, less shortterm non-interest bearing liabilities. The measure is used to show how much capital is needed to finance day to day operations. NET DEBT Interest-bearing debt (current and non-current) less cash and cash equivalents. The measure shows financing from borrowings. STOCK TURNOVE