Glossary

For definitions of key figures click here.

Accident rate
The accident rate for the Group is calculated using the formula:
Accident rate = R×200,000/h, where
R= number of recordable accidents
h = total hours worked
This formula is provided by the US Occupational Safety and Health Administration (OSHA).

Ball bearings versus roller bearings
The main difference in the performance of these two bearing types is that ball bearings have lower friction than roller bearings, while roller bearings have a higher load-carrying capacity.

Carbon intensity
The amount of CO2 released during the conversion of the total energy used.

Condition monitoring
By regularly measuring vibration levels in bearings and machines, maintenance factors impacting on bearing service life and machine operation can be controlled. Condition monitoring instrumentation and software enable the early detection of bearing and machinery problems, making it possible for technicians to take the necessary steps in order to address a problem before it results in breakdowns.

Employee retention rate
1– (R)/(registered number of employees
as of 31 Dec – newly hired during the year + R)
R = number of employees that left during the year.

Energy intensity
The total energy used in all forms in the manufacturing facilities divided by an accounting measure of manufacturing output.

Friction
A force that counteracts movement between contact surfaces. Friction is by nature complex and is calculated by means of an empirical factor. Friction consumes energy and generates heat in rotating machinery.

GHG protocol
The GHG Protocol Corporate Standard provides standards and guidance for companies and other organizations preparing a GHG (greenhouse gas) emissions inventory. Through the use of standardized
approaches and principles, it provides a clear and transparent reporting mechanism.

Hub bearing unit
Easy-to-mount, compact bearing unit for passenger car wheels. It is based on a double-row angular contact ball bearing and has integrated seals. It can be equipped with a sensor suitable for anti-lock braking aystems (ABS), traction control and so on.

Integrated Maintenance Solution (IMS)
An IMS contract is an expanded troublefree operation programme which consists of services such as training, installation supervision, root cause failure analysis and the condition monitoring of rotating machinery.

ISO
The International Organization for Standardization (ISO) is an international standard-setting body composed of representatives from various national standards organizations. The organization promulgates worldwide proprietary industrial and commercial standards.

Landfill
Designated area for disposal of waste.

Large size bearings
The range includes standard bearings as well as bearings tailored for specific applications. Bearings with an outside diameter of more than 420 mm are considered as large.

Leadership in Energy & Environmental Design (LEED)
An internationally recognized green building certification system, providing third-party verification that a building or community was designed and built using strategies intended to improve performance in metrics such as energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.

Life cycle analysis
Systematic analysis of all environmental impacts of a product during its entire life cycle, i.e. from raw material to end-of-life product recovery or disposal.

Life cycle management
(Environmental) refers to the environmental impact of SKF’s products over its full life cycle; material extraction, transports, manufacturing, use phase and end of life.

Linear products
A common name for components, units and systems for linear movement. They include linear bearings, profile rail guides, linear ball bearing slides and so on.

Lubricant
Grease, oil or other substance to facilitate the motion of surfaces relative to each other, e.g in a bearing.

OHSAS 18001
Occupational Health and Safety Assessment Series management system targets at controlling occupational health and safety risks as well as to improve performance in the area. It is compatible with
ISO 14001 (Environmental Management System).

Original equipment manufacturer (OEM)
Customers who buy bearings to use in their own products, such as manufacturers of cars, household appliances, gearboxes and so on.

REACH
The REACH Regulation came into force on 1 June 2007, intended for the Registration, Evaluation, Authorization and Restriction of Chemical substances. Information about the chemical substances
used or imported shall be registered in a central database run by the European Chemical Agency (ECHA).

Remediation
Activity aimed at correcting a deficiency or problem.

Self-aligning ball bearing
This bearing type, invented in 1907 by SKF’s founder Sven Wingquist, solved one of the largest industrial problems of the time – the continual production stoppages caused by bearing failure. As the
alignment of the shafts was not accurate enough for the rigid ball bearings that were normally used, the bearings failed due to misalignment. The double-row, self-aligning ball bearings accommodated
the misalignment without reducing service life, thereby solving the problem.

SKF Care
SKF’s definition of sustainability.

SKF Internal Control Standard (SICS)
A financial internal control framework, based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO), developed by SKF for ensuring that a basic, consistent system of financial internal control is maintained throughout the SKF Group.

Super-precision bearings
SKF’s comprehensive assortment of super-precision bearings is designed for machine tool spindles and other applications that require a high level of running accuracy at high to extremely high
speeds. Each bearing type incorporates unique features to make it suitable for specific operating conditions.

Transaction effects
Companies involved in international trade risk that currency exchange rates may change and thereby effect the value of the transactional currency flows.

Translation effects
The risk that a company’s equities, assets, liabilities or income will change as a result of the translation of foreign currency into SEK.

Tribology
Tribology is the science and technology of interacting surfaces in relative motion. It includes the study and application of the principles of friction, lubrication and wear.

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