Reclassification of Items in the Statements of Cash Flow(Pic)
(a) Cash outflows related to contributions to pension plans are considered as operating activities. Previously, SKF had classified contributions to post-employment defined benefit plans as part of the financing activities as the decision to fund these plans was made in the context of financing SKF's overall obligations.
(b) Cash flows relating to marketable securities and other liquid assets are considered as investing activities. Further, since the original maturities of these investments are greater than three months, it is preferable to present them on a gross basis. Previously, SKF had classified these activities as part of financing activities as the investments are part of the overall financing program at SKF.
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