Note 17: Trade and other receivables
In € millions, at December 31 |
2020 |
2021 |
|---|---|---|
Trade receivables |
1,751 |
1,973 |
Prepaid expenses |
30 |
37 |
Tax receivables other than income tax |
91 |
145 |
FX contracts |
10 |
15 |
Receivables from associates |
— |
9 |
Other receivables |
112 |
160 |
Total |
1,994 |
2,339 |
Trade and other receivables can be broken down as per the previous table.
In € millions, at December 31 |
2020 |
2021 |
|---|---|---|
Performing trade receivables |
1,644 |
1,849 |
|
|
|
Past due trade receivables |
|
|
< 3 months |
99 |
102 |
> 3 months |
66 |
64 |
Allowance for impairment |
(58) |
(42) |
Total trade receivables |
1,751 |
1,973 |
Trade receivables are presented net of an allowance for impairment of €42 million (2020: €58 million). In 2021, €11 million of impairment losses were recognized in the statement of income (2020: €22 million) and €11 million was reversed (2020: €3 million).
Since the total amount of impairment losses under IFRS 9 is not significant, no separate disclosure was made in the statement of income.
In € millions |
2020 |
2021 |
|---|---|---|
Balance at January 1 |
58 |
58 |
Additions charged to income |
22 |
11 |
Release of unused amounts |
(3) |
(11) |
Utilization |
(14) |
(17) |
Acquisitions |
1 |
— |
Currency exchange differences |
(6) |
1 |
Balance at December 31 |
58 |
42 |
Other receivables include the current portion of €53 million (£44 million) of the escrow account for the Akzo Nobel (CPS) Pension Scheme in the UK; refer to Note 15.