Audi 2010 Annual Report Download - page 232

230
EUR million Past due and not impaired Past due
Dec. 31, 2009 Up to 30 days30 to 90 days More than
90 days
Measured at amortized cost
Trade receivables 573 265 256 51
Other receivables 43 22 19 2
Total 615 287 275 53
The credit risk is low overall, as the vast majority of the past due and not impaired financial
assets are past due by only a short period – predominantly owing to the customer’s purchase
invoice and payment processes. It was therefore not necessary to implement any contractual
changes to prevent financial instruments from becoming past due.
Value adjustments
Developments of value adjustments of claims that existed on the balance sheet date and
that were measured at amortized cost can be broken down as follows for the 2010 and 2009
fiscal years:
EUR million 2010 Specific value adjustment 2009 Specific value adjustment
Position as of January 1 98 98 37 37
Addition as of January 1 from changes in
group of consolidated companies 6 6 – –
Addition 12 12 76 76
Utilization – 18 – 18 – 13 – 13
Dissolution – 3 – 3– 2 – 2
Position as of December 31 94 94 98 98
Portfolio-based write-downs are not used within the Audi Group.
Collateral
The Audi Group recorded financial assets as collateral for liabilities in the amount of
EUR 211 (170) million. This collateral is used by contractual parties primarily as soon
as credit periods for secured liabilities are exceeded.
Conversely, the Audi Group also receives collateral, primarily for trade receivables. Vehicles, bank
guarantees and banker’s bonds are primarily used as collateral.
34.2 Liquidity risks
Liquidity risks arise from financial liabilities if current payment obligations can no longer be
met. A liquidity forecast based on a fixed planning horizon coupled with available yet unused
lines of credit assure adequate liquidity at all times in the Audi Group.