Asus 2014 Annual Report Download - page 187
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183
D. The unexpired contracts are as follows:
(6) Notes and trade receivables
A. On September 11, 2014, the Group entered into an agreement with a financial institution to sell
its trade receivables. Under the agreement, the Group is not required to bear the uncollectible
risk and the losses incurred on any business dispute for certain trade receivables. As the Group
met the derecognition criteria for financial assets, the Group derecognized trade receivables
sold to financial institution amounting to $7,493 for the year ended December 31, 2014.
However, the Group is required to bear the uncollectible risk and the losses incurred on any
business dispute for certain trade receivables and accordingly, did not meet the derecognition
criteria for financial assets. The outstanding trade receivables sold to the financial institution
for the year ended December 31, 2014 is as follows:
Contract period Contract period
Derivative financial assets for hedging:
Forward exchange contracts
-EUR/USD EUR 300,000 2014/11-2015/03 EUR 120,000 2013/10-2014/05
-NOK/USD
NOK
30,000 2014/12-2015/02
NOK
- -
-JPY/USD
JPY
5,000,000 2014/12-2015/02
JPY
- -
-SEK/USD SEK 25,000 2014/12-2015/01 SEK 100,000
2013/10-2014/02
-AUD/USD
AUD
10,000 2014/10-2015/01
AUD
15,000 2013/10-2014/02
-TRY/USD
TRY
5,000 2014/12-2015/02
TRY
- -
Derivative financial liabilities for hedging:
Forward exchange contracts
-EUR/USD EUR - - EUR 500,000 2013/09-2014/04
-GBP/USD GBP - - GBP 55,000 2013/09-2014/04
-NOK/USD
NOK
20,000 2014/12-2015/01
NOK
- -
-JPY/USD JPY 1,800,000 2014/12-2015/03 JPY - -
(in thousands)
(in thousands)
2014/12/31
2013/12/31
Contract amount
Contract amount
(Nominal principal)
(Nominal principal)
2014/12/31 2013/12/31
Notes receivable 5,664,021$ 7,024,036$
Trade receivables 80,701,708 75,012,610
86,365,729 82,036,646
Less: allowance for sales returns
and discounts
3,149,850)( 4,510,103)(
Less: allowance for doubtful accounts 2,778,185)( 2,428,175)(
(accumulated impairment)
80,437,694$ 75,098,368$
Purchaser of
trade receivables
Amount
derecognized
Amount advanced Collateral
Ta Chong Bank 833$ -$ -
2014/12/31