Asus 2012 Annual Report Download - page 190

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E. For unrealized gain or loss on cash flow hedging, the amount of (loss) gain recognized directly
in equity was ($1,646,511) and $1,153,815 for the years ended December 31, 2012 and 2011,
respectively.
(6) Notes and accounts receivable
On February 4, 2012, AAEON entered into an agreement with Taishin International Bank to sell its
accounts receivable. Under the agreement, AAEON is not required to bear uncollectible risk of the
underlying accounts receivable, but is liable for the losses incurred on any business dispute. As
AAEON met the derecognition criteria for financial assets, AAEON derecognized the accounts
receivable sold to Taishin International Bank, net of the losses estimated for possible business
disputes. As of December 31, 2012, the outstanding accounts receivable sold to Taishin
International Bank were as follows:
As of December 31, 2011, the Group did not sell its accounts receivable.
Items Contract Period Contract Period
Derivative financial liabilities for hedging:
Forward exchange contracts
-NOK/USD NOK 110,000 2012/09-2013/03 NOK - -
-EUR/USD EUR 400,000 2012/09-2013/03 EUR - -
-GBP/USD GBP 15,000 2012/09-2013/02 GBP - -
-SEK/USD SEK 160,000 2012/12-2013/03 SEK - -
-AUD/USD
AUD
30,000 2012/11-2013/02
AUD
- -
-RUB/USD
RUB
3,500,000 2012/09-2013/03
RUB
- -
-CHF/USD CHF 5,000 2012/09-2013/02 CHF - -
(in thousands)
(in thousands)
2012/12/31
2011/12/31
Contract Amount
Contract Amount
(Nominal principal)
(Nominal principal)
2012/12/31 2011/12/31
Notes receivable 6,353,146$ 5,996,132$
Accounts receivable 62,290,621 46,748,411
68,643,767 52,744,543
Less: allowance for doubtful accounts 2,479,292)( 4,127,494)(
(provision for impairment)
66,164,475$ 48,617,049$
Purchaser of
accounts receivable
Amount
derecognized
Accounts
receivable sold
Amount advance Interest rate
Taishin International
Bank
14,417$ 20,000$ -$ -
2012/12/31