Note 12: Trade and other receivables

In € millions

 

2012

 

2013

Trade receivables

 

2,174

 

2,087

Prepaid expenses

 

72

 

54

Tax receivables other than income tax

 

172

 

166

Receivables from associates and joint ventures

 

31

 

27

Forward exchange and commodity contracts

 

16

 

15

Other receivables

 

233

 

187

Total

 

2,698

 

2,536

Trade receivables are presented net of an allowance for impairment of €91 million (2012: €100 million). In 2013, €40 million of impairment losses were recognized in the statement of income (2012: €46 million).

Ageing of trade receivables

 

 

 

 

 

In € millions

 

2012

 

2013

Performing accounts receivable

 

1,903

 

1,852

Past due accounts receivables and not impaired

 

 

 

 

< 3 months

 

226

 

185

3 – 6 months

 

11

 

8

> 6 months

 

3

 

4

Impaired accounts receivables

 

131

 

128

Allowance for impairment

 

(100)

 

(91)

Total trade receivables

 

2,174

 

2,086

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

 

2012

 

2013

Opening balance

 

108

 

100

Additions charged to income

 

46

 

40

Release of unused amounts

 

(18)

 

(22)

Acquisition

 

(3)

 

(1)

Utilization

 

(25)

 

(19)

Transfer to assets held for sale

 

(6)

 

(1)

Currency exchange differences

 

(2)

 

(6)

Closing balance

 

100

 

91

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.