NWG // FINANCIAL INFORMATION // THE GROUP
Note 20 - Net assets in foreign currencies
The table shows currency exposed equity distributed by each currency before Group adjustments .
SEK million Net assets 2021 2020 Euro , EUR 974.6 947.0 Canadian dollar , CAD 177.8 155.8 Swiss franc , CHF 193.3 206.7 US dollar , USD 1 592.8 1 311.1 Norwegian krone , NOK 149.9 95.8 Danish krone , DKK 54.2 68.3 Chinese yuan , CNY 51.5 30.7 Polish zloty , PLN 58.8 48.8 Hong Kong dollar , HKD 105.7 89.7 British pound , GBP 65.9 55.7 Icelandic krona , ISK 3.0 2.6 Total net assets in foreign currencies 3 427.6 3 012.3
Note 21 - Pledged assets and contingent liabilities
Pledged assets
The Group ' s pledged assets consists of collateral for the Group ' s interest-bearing liabilities to credit institutions which amounted to SEK 702.9 ( 1,400.9 ) million at year-end . Security for the main financing agreement is made up of floating charges , property mortgages , and net assets in Group companies . Trademarks have been specifically pledged and are included in the net assets of the Group companies . Parts of the Group ’ s inventory and accounts receivable constitute security for Group companies ’ local funding . See further Note 16 , section Liquidity risk , for maturity analysis and information regarding the conditions for the Group ’ s financing .
Contingent liabilities
Accounting policies
A contingent liability is recognized for a possible obligation , for which it is not yet confirmed that a present obligation exists that could lead to an outflow of resources . Alternatively , there is a present obligation that does not meet the definitions of a provision or a liability as it is not probable that an outflow of resources will be required to settle the obligation or a sufficiently reliable estimate of the amount of the obligation cannot be made .
SEK million 2021 2020 Duty guarantees 12.2 12.2 Rent guarantees 141.9 151.5 Guarantees for associated companies 6.0 6.0
Total 160.1 169.7
Note 22 - Other current liabilities
SEK million |
2021 |
2020 |
VAT |
111.3 |
109.6 |
Employee withholding taxes |
14.7 |
20.0 |
Liabilities to employees |
4.5 |
9.2 |
Repayment liabilities , returns |
14.5 |
8.6 |
Currency futures |
4.1 |
4.7 |
Social security contributions |
0.4 |
3.4 |
Other wage deductions |
0.5 |
2.4 |
Purchase price not paid |
0.0 |
0.0 |
Other items |
13.7 |
19.7 |
Total |
163.6 |
177.6 |
SEK million |
2021 |
2020 |
Floating charges |
690.5 |
690.5 |
Property mortgages |
179.8 |
172.0 |
Net assets in Group companies |
3 337.8 |
3 201.5 |
Shares in associated companies |
8.3 |
8.3 |
Inventory and accounts receivable |
353.5 |
321.7 |
Total |
4 569.9 |
4 394.1 |
106 // ANNUAL REPORT