Note 17: Trade and other receivables
In € millions, at December 31 |
2021 |
2022 |
|---|---|---|
Trade receivables |
1,973 |
2,123 |
Prepaid expenses |
37 |
58 |
Tax receivables other than income tax |
145 |
156 |
FX contracts |
15 |
18 |
Receivables from associates |
9 |
4 |
Other receivables |
160 |
88 |
Total |
2,339 |
2,447 |
Trade and other receivables can be broken down as per the table above. Other receivables consist of a large number of individually immaterial items. In 2021, Other receivables included the current portion of €53 million (£44 million) of the escrow account for the Akzo Nobel (CPS) Pension Scheme in the UK, that was repaid in 2022.
In € millions, at December 31 |
2021 |
2022 |
|---|---|---|
Performing trade receivables |
1,849 |
1,987 |
|
|
|
Past due trade receivables |
|
|
< 3 months |
102 |
104 |
> 3 months |
64 |
74 |
Allowance for impairment |
(42) |
(42) |
Total trade receivables |
1,973 |
2,123 |
Trade receivables are presented net of an allowance for impairment of €42 million (2021: €42 million). In 2022, €17 million of impairment losses were recognized in the statement of income (2021: €11 million) and €8 million was reversed (2021: €11 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 |
2021 |
2022 |
|---|---|---|
Balance at January 1 |
58 |
42 |
Additions charged to income |
11 |
17 |
Release of unused amounts |
(11) |
(8) |
Utilization |
(17) |
(9) |
Acquisitions |
— |
2 |
Currency exchange differences |
1 |
(2) |
Balance at December 31 |
42 |
42 |