Note 16: Trade and other receivables

Trade and other receivables

In € millions

2018

2019

Trade receivables

1,843

1,812

Prepaid expenses

50

33

Tax receivables other than income tax

92

116

FX contracts

6

9

Receivables from associates

8

Other receivables

150

155

Total

2,141

2,133

Ageing of trade receivables

In € millions

2018

2019

Performing trade receivables

1,657

1,625

 

 

 

Past due trade receivables

 

 

< 3 months

167

162

> 3 months

88

83

Allowance for impairment

(69)

(58)

Total trade receivables

1,843

1,812

Trade receivables are presented net of an allowance for impairment of €58 million (2018: €69 million).

In 2019, €29 million of impairment losses were recognized in the statement of income (2018: €38 million). An amount of €24 million was reversed (2018: €35 million).

Allowance for impairment of trade receivables

In € millions

2018

2019

Balance at January 1 under IAS 39

84

 

Impact adoption IFRS 9

4

 

Balance at January 1 under IFRS 9

88

69

Additions charged to income

38

29

Release of unused amounts

(35)

(24)

Utilization

(22)

(16)

Acquisitions

3

Currency exchange differences

(3)

Balance at December 31

69

58

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

Other receivables include the current portion of €30 million26 million) of the escrow account for the Akzo Nobel (CPS) Pension Scheme in the UK.