Note 12 Number of employees, employee compensation costs, and senior executives

Average number of employees in 2017 (12 mos.)

Women Men Total
Kvinnor Män Totalt
Parent company Moderföretaget      
Sweden Sverige 0 0 0
Total – Parent company Totalt i moderföretaget 0 0 0
Subsidiaries Dotterföretag      
Sweden Sverige 77 63 140
Norway Norge 0 1 1
Denmark Danmark 1 1 2
United Kingdom Storbritannien 47 27 74
Germany Tyskland 57 56 113
Spain Spanien 14 7 21
Portugal Portugal 4 2 6
Netherlands Nederländerna 18 10 28
Belgium Belgien 3 4 7
France Frankrike 17 13 30
Switzerland Schweiz 4 2 6
Italy Italien 11 12 23
USA USA 71 37 108
Canada Kanada 3 1 4
Brazil Brasilien 3 3 6
Japan Japan 12 11 23
Australia Australien 2 3 5
Poland Polen 1 2 3
Total – Subsidiaries Totalt i dotterföretag 345 255 600
Total – Group Totalt i koncernen 345 255 600

Average number of employees in 2016 (5 mos.)

Women Men Total
Kvinnor Män Totalt
Parent company Moderföretaget      
Sweden Sverige 0 0 0
Total – Parent company Totalt i moderföretaget 0 0 0
Subsidiaries Dotterföretag      
Sweden Sverige 89 51 140
Norway Norge 0 1 1
Denmark Danmark 1 1 2
United Kingdom Storbritannien 37 24 61
Germany Tyskland 56 46 102
Spain Spanien 14 6 20
Portugal Portugal 2 2 4
Netherlands Nederländerna 12 8 20
Belgium Belgien 3 4 7
France Frankrike 14 11 25
Switzerland Schweiz 3 1 4
Italy Italien 6 7 13
USA USA 44 21 65
Brazil Brasilien 2 1 3
Japan Japan 11 8 19
Australia Australien 3 2 5
Total – Subsidiaries Totalt i dotterföretag 297 194 491
Total – Group Totalt i koncernen 297 194 491

Board members and other senior executives

12/31/2017 12/31/2016
2017-12-31 2016-12-31
Parent company Moderföretaget    
Women: Kvinnor:
Board of directors Styrelsen 0 0
Men: Män:
Board of directors Styrelsen 2 2
Other senior executives incl. CEO Övriga ledande befattningshavare inkl. VD 1 1
Total – Parent company Totalt i moderföretaget 3 3
Group Koncernen    
Women: Kvinnor:
Board of directors Styrelsen 0 0
Other senior executives incl. CEO Övriga ledande befattningshavare inkl. VD 2 2
Men: Män:
Board of directors Styrelsen 0 0
Other senior executives incl. CEO Övriga ledande befattningshavare inkl. VD 6 6
Total – Group Totalt i koncernen 11 11

Salaries and benefits

01/01/2017 07/20/2016
12/31/2017 12/31/2016
(12 mos.) (5 mos.)
2017-01-01 2016-07-20
2017-12-31 2016-12-31
(12 mån) (5 mån)
Parent company Moderföretaget 0 0
Subsidiaries Dotterföretag    
Salaries and other benefits Löner och andra ersättningar -305,174 -93,545
Social welfare taxes Sociala avgifter -62,100 -22,773
Retirement benefit costs Pensionskostnader -15,140 -5,760
Total salaries and benefits for the group Totala löner och ersättningar i koncernen -305,174 -93,545
Total social welfare taxes for the group Totala sociala avgifter i koncernen -62,100 -22,773
Total retirement benefit costs for the group Totala pensionskostnader i koncernen -15,140 -5,760
Total – Group Totalt i koncernen -382,414 -122,078

Distribution of salaries and other benefits between senior executives

01/01/2017 07/20/2016
12/31/2017 12/31/2016
(12 mos.) (5 mos.)
2017-01-01 2016-07-20
2017-12-31 2016-12-31
(12 mån) (5 mån)
Salaries and other benefits and retirement benefits to senior executives Löner och andra ersättningar samt pensioner till ledande befattningshavare    
Group Koncernen    
Salaries and benefits to senior executives (9 individuals*), Löner och ersättningar till ledande befattningshavare (9 personer*) -26,051 -7,667
including bonuses, profit sharing and similar benefits to senior executives varav tantiem och liknande ersättningar till ledande befattningshavare -851 -1,045
Costs for retirement benefits to senior executives Pensionskostnader till ledande befattningshavare -747 −627
Total – Salaries and other benefits and retirement benefits for senior executives in the group Totala löner och andra ersättningar samt pensioner till ledande befattningshavare i koncernen -26,798 -8,294
*no board fees have been paid during the year (-) *inga styrelsearvoden har utgått under räkenskapsåret (-)

Retirement benefits

The cost this year for defined-contribution retirement plans is SEK -15,140k (-5,760k).

For civil servants in Sweden, the ITP 2 plan’s defined-benefit retirement commitments for retirement and family pensions (alternatively, family pensions) are secured by an insurance policy from Alecta. According to a statement by the Swedish Financial Reporting Board, UFR 10 Reporting of the Retirement Plan, ITP 2, which is financed via insurance in Alecta, is a defined-benefit plan that covers multiple employers. For the 2017 fiscal year, the company has not had access to the information needed to be able to report its proportionate share of the plan’s assets, liabilities, and costs, making it impossible to recognize the plan as a defined-benefit plan. The ITP 2 retirement plan, which is secured by an insurance policy from Alecta, has therefore been reported as a defined-contribution plan. The premium for the defined-benefit retirement and family pension is individually calculated and depends inter alia on wages, previously earned retirement benefits, and expected remaining length of service. The fees expected for ITP 2 insurance policies signed with Alecta for the next reporting period are SEK 6,7 Mil (2016: SEK 6,9 Mil). The group pays an insignificant amount of this plan.

The collective consolidation ratio includes the market value of Alecta’s assets as a percentage of the insurance commitments, calculated according to Alecta’s insurance methodology and assumptions, which do not comply with IAS 19. The collective consolidation ratio may typically be allowed to vary from 125 to 155 percent. If Alecta’s collective consolidation ratio falls below 125 percent or rises above 155 percent, measures must be adopted in order to create favorable conditions for the consolidation ratio to return to a normal level. In the event of a low consolidation ratio, one corrective measure could be to raise the premium for new policies and renewals of existing benefits. For high consolidation ratios, a corrective measure could be to lower the premiums. As of the end of 2017, Alecta’s surplus in terms of collective consolidation was 154 percent (2016: 149 percent).

Agreement on termination payments

In case of termination from the company, the CEO has a termination period of 15 months, at the CEO’s own notice of termination the period is 12 months. During the termination period full benefits are paid.