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 2023 2022 Euro , EUR 1 627.6 1 311.6 Canadian dollar , CAD 224.1 208.5 Swiss franc , CHF 401.7 423.5 US dollar , USD 2 187.9 2 076.3 Norwegian krone , NOK 206.4 198.1 Danish krone , DKK 90.9 74 . 0 Chinese yuan , CNY 43.0 79.9 Polish zloty , PLN 107.6 89.2 Hong Kong dollar , HKD 126.8 144.9 British pound , GBP 414.4 368.7 Icelandic krona , ISK 1.3 2.1 Total net assets in foreign currencies 5 431.6 4 976.7
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 1 841,1 ( 2 054,8 ) 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 2023 2022 Duty guarantees 13.6 13.8 Rent guarantees 111 . 5 132.9 Guarantees for associated companies 6.0 6.0
Total 131.1 152.7
Note 22 - Other current liabilities
SEK million |
2023 |
2022 |
VAT |
113 . 3 |
107.7 |
Employee withholding taxes |
16.4 |
14.0 |
Liabilities to employees |
6.7 |
8.5 |
Repayment liabilities , returns |
17.2 |
21.7 |
Currency futures |
4.3 |
4.1 |
Social security contributions |
0.6 |
0.6 |
Other wage deductions |
0.6 |
0.6 |
Other items |
29.4 |
17.6 |
Total |
188.4 |
174.7 |
SEK million |
2023 |
2022 |
Floating charges |
634.7 |
690.5 |
Property mortgages |
195.2 |
201.5 |
Net assets in Group companies |
4 628.6 |
4 286.3 |
Shares in associated companies |
8.3 |
8.3 |
Inventory and accounts receivable |
415.9 |
560.0 |
Total |
5 882.7 |
5 746.6 |
106 // ANNUAL REPORT