Note 15: Trade and other receivables

Trade and other receivables

In € millions

2017

2018

Trade receivables

1,700

1,843

Prepaid expenses

29

50

Tax receivables other than income tax

112

92

FX and commodity contracts

11

6

Other receivables

112

150

Total

1,964

2,141

Trade receivables are presented net of an allowance for impairment of €69 million (2017: €84 million).

In 2018, €38 million of impairment losses were recognized in the statement of income (2017: €45 million). An amount of €35 million was reversed (2017: €37 million).

Ageing of trade receivables

In € millions

2017

2018

Performing trade receivables

1,505

1,638

 

 

 

Past due trade receivables and not impaired

 

 

< 3 months

140

161

> 3 months

31

29

Impaired trade receivables

108

84

Allowance for impairment

(84)

(69)

Total trade receivables

1,700

1,843

Allowance for impairment of trade receivables

In € millions

2017

2018

Balance at January 1 under IAS 39

107

84

Impact adoption IFRS 9

4

Opening balance at January 1, 2018 under IFRS 9

107

88

Additions charged to income

45

38

Release of unused amounts

(37)

(35)

Utilization

(19)

(22)

Acquisitions

3

Classified as assets held for sale

(6)

Currency exchange differences

(6)

(3)

Balance at December 31

84

69

Since the total amount of impairment losses under IFRS 9 is not significant no separate disclosure was made in the statement of income.

In 2018, the addition to and release of the allowance for impairment have been included in the statement of income under Selling expenses. In 2017, they have been reported there also for the continuing operations and under Profit for the period from discontinued operations for the Specialty Chemicals business.

In 2018, the impairment of trade receivables is based on the expected credit losses model following the simplified approach. In 2017, it was based on the incurred loss model.