P15. Other provisions

Changes in other provisions were as follows.

SEK in millions

December 31, 2016

Payroll taxes
on future pen-
sion payments

Restructuring provisions

Other
provisions

Damages and court cases

Insurance
provisions

Total

Opening balance

20

50

240

23

333

of which financial liabilities at amortized cost

Provisions for the period

57

10

13,204

13,271

Utilized provisions

-4

-64

-69

Reversals of provisions

-240

-240

Reclassifications

-1

-1

Closing balance

16

42

10

13,204

23

13,294

of which non-current portion

16

10

23

49

of which current portion

42

13,204

13,245

For financial liabilities, the carrying value equals fair value as provisions are discounted to present value. Refer to Note P19 “Financial assets and liabilities by category and level” for more information on financial instruments classified by category.

Restructuring provisions mainly refer to staff redundancy costs related to cost saving programs. The remaining provision as of December 31, is expected to be fully utilized in 2017-2018. Provisions for damages and court cases comprises of the provision for settlement amount proposed by the US and Dutch authorities, for more information see Note C34. Full utilization of payroll taxes on future pension payments, damages and court cases, and insurance provisions is expected in the period 2017-2029.

The provisions represent the present value of management’s best estimate of the amounts required to settle the liabilities. The estimates may vary mostly as a result of changes in actual pension payments, changes in the actual number of months an employee is staying in redeployment before leaving, changes in tax and other legislation and changes in the actual outcome of negotiations with lessors, sub-contractors and other external counterparts as well as the timing of such changes.