| Type of facility (Dollars in millions) | Amount of facility | Amount outstanding | Weighted average interest rate | Additional amount available |
| Revolving credit facility (matures 2009) | $570 | – | n/a | $570 |
| Revolving credit facility (364 days – March 2005) | 280 | – | n/a | 280 |
| U.S. commercial paper program | 1,000 | $106.2 | 2.3% | 894 1) |
| Swedish commercial paper program | 661 | 0 | n/a | 661 1) |
| Other short-term debt | 397 | 168.0 | 2.6% | 229 |
| Eurobond (due 2006) incl. DRD 2) | 265 | 265.3 | 6.5% | – |
| Swedish medium-term-note program (due 2005-2010) incl. DRD 2) | 605 | 254.4 | 4.7% | 351 |
| Other long-term debt, including current portion (various maturities through 2015) | 36 | 34.5 | 2.7% | 2 |
| Debt-related derivatives2) n/a 152.5 n/a –Total | n/a | $980.9 | n/a | n/a |
1) Total outstanding commercial paper programs (“CP”) should not exceed total undrawn revolving credit facilities (“RCF”) according to the Company’s financial policy. 2) Debt-Related Derivatives, (DRD), i.e. the fair market value adjustments associated with hedging instruments as adjustments to the carrying value of the underlying debt.
During 2004, the Company amended its revolving credit facility (“RCF”) in such a way that it is no longer subject to financial covenants requiring the Company to maintain a certain level of debt to earnings and a certain interest coverage ratio.
The company also extended the maturity of the long-term part of the RCF by one year to 2009.
The RCF that amounts to $850 million is syndicated among 16 banks.
For a detailed discussion of the Company’s credit facilities and borrowings outstanding, see Note 12 to the Consolidated Financial Statements included herein.
In 2000, the Board of Directors authorized a Share Repurchase Program for up to 10 million of the Company’s shares. In 2003, the program was expanded by an additional 10 million shares.
Purchases can be made from time to time as market and business conditions warrant in open market, negotiated or block transactions.
The Company repurchased 3,428,900 shares during 2004 at a cost of $144 million, 2,052,600 shares during 2003 at a cost of $43 million and 1,554,600 shares during 2002 at a cost of $30 million.
During 2000, the Company repurchased 4,542,438 shares at a cost of $103 million. There were no repurchases during 2001.
At December 31, 2004, 8.4 million shares remained under authorizations for repurchases. Since the inception of the program, 11.6 million shares have been repurchased at an average cost of $27.61 per share or a total of $320 million. At December 31, 2004, there were 92.0 million shares outstanding, net of treasury shares compared to 94.9 million at December 31, 2003.