Audi 2011 Annual Report Download - page 237

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Financial assets that are past due and not impaired are presented in the following analysis by
maturity dates of gross carrying amounts:
EUR million
Past due and
not impaired Past due
Dec. 31, 2011 Up to 30 days30 to 90 days
More than
90 days
Measured at amortized cost
Trade receivables 533 407 82 43
Other receivables 61 42 16 4
Total 594 449 98 47
EUR million
Past due and
not impaired Past due
Dec. 31, 2010 Up to 30 days30 to 90 days
More than
90 days
Measured at amortized cost
Trade receivables 437 310 81 46
Other receivables 43 26 14 2
Total 480 337 96 48
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.
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 2011 and 2010
fiscal years:
EUR million 2011
Specific value
adjustment 2010
Specific value
adjustment
Position as of January 1 94 94 98 98
Addition as of January 1 from changes in
group of consolidated companies 0 0 6 6
Addition 19 19 12 12
Utilization – 10 – 10 – 18 – 18
Dissolution – 6 – 6– 3 – 3
Position as of December 31 98 98 94 94
Portfolio-based write-downs are not used within the Audi Group.
Collateral
The credit risk is reduced by collateral held of EUR 1,472 (940) million. In the Audi Group, col-
lateral is primarily held in relation to trade receivables. Vehicles, bank guarantees and banker’s
bonds are the main forms of collateral provided.
34.3 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 assures adequate liquidity at all times in the Audi Group.