BMW 2011 Annual Report Download - page 116

116
76 GROUP FINANCIAL STATEMENTS
76 Income Statements
76 Statement of
Comprehensive Income
78 Balance Sheets
80 Cash Flow Statements
82 Group Statement of Changes
in Equity
84 Notes
84 Accounting Principles
and Policies
100 Notes to the Income
Statement
107 Notes to the Statement
of Comprehensive Income
108
Notes to the Balance Sheet
129 Other Disclosures
145 Segment Information
32
Trade receivables
Trade receivables amounting in total to € 3,286 million (2010: € 2,329 million) include € 37 million due later than one
year (2010: € 41 million).
in € million 31. 12. 2011 31. 12. 2010
Gross carrying amount 3,387 2,424
Allowance for impairment – 101 – 95
Net carrying amount 3,286 2,329
2011 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January 83 12 95
Allocated / reversed 18 2 20
Utilised – 8 – 5 – 13
Exchange rate impact and other changes 1 – 2 – 1
Balance at 31 December 94 7 101
2010 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January* 76 9 85
Allocated / reversed 17 3 20
Utilised – 12 – 1 – 13
Exchange rate impact and other changes 2 1 3
Balance at 31 December 83 12 95
* including entities consolidated for the first time during the financial year
Allowances on trade receivables developed as following during the year under report:
Allowance for impairment and credit risk
Some trade receivables were overdue for which an impairment loss was not recognised. Overdue balances are
analysed into the following time windows:
in € million 31. 12. 2011 31. 12. 2010
1 – 30 days overdue 140 148
31 – 60 days overdue 40 41
61 – 90 days overdue 22 15
91 – 120 days overdue 15 11
More than 120 days overdue 25 39
242 254
Receivables that are overdue by between 1 and 30 days
do not normally result in bad debt losses since the
overdue nature of the receivables is primarily attribut-
able to the timing of receipts around the month-end.
In the case of trade receivables, collateral is generally
held in the form of vehicle documents and bank
guarantees so that the risk of bad debt loss is extremely
low.