Note 12: Trade and other receivables
In € millions |
2014 |
2015 |
||
Trade receivables |
2,246 |
2,267 |
||
Prepaid expenses |
63 |
62 |
||
Tax receivables other than income tax |
164 |
155 |
||
Receivables from associates and joint ventures |
35 |
29 |
||
FX and commodity contracts |
17 |
24 |
||
Other receivables |
218 |
204 |
||
Total |
2,743 |
2,741 |
Trade receivables are presented net of an allowance for impairment of €102 million (2014: €95 million). In 2015, €43 million of impairment losses were recognized in the statement of income (2014: €35 million).
Ageing of trade receivables |
||||
|
|
|
||
In € millions |
2014 |
2015 |
||
Performing accounts receivable |
2,004 |
2,026 |
||
|
|
|
||
Past due accounts receivables and not impaired |
|
|
||
< 3 months |
205 |
200 |
||
> 3 months |
20 |
25 |
||
Impaired accounts receivables |
112 |
118 |
||
Allowance for impairment |
(95) |
(102) |
||
Total trade receivables |
2,246 |
2,267 |
||
With respect to the trade and other receivables that are neither impaired nor past due, there are no indications as of reporting date that the debtors will not meet their payment obligations.
Allowance for impairment of trade receivables |
||||
|
|
|
||
In € millions |
2014 |
2015 |
||
Balance at January 1 |
91 |
95 |
||
Additions charged to income |
35 |
43 |
||
Release of unused amounts |
(16) |
(17) |
||
Utilization |
(19) |
(18) |
||
Currency exchange differences |
4 |
(1) |
||
Balance at year-end |
95 |
102 |
||
The addition to and release of the allowance for impairment have been included in the statement of income under Selling expenses.
The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivables mentioned above. We do not hold any collateral for trade receivables. We do not have a significant customer concentration.