BMW 2012 Annual Report Download - page 116

116
78 GROUP FINANCIAL STATEMENTS
78 Income Statements
78 Statement of
Comprehensive Income
80 Balance Sheets
82 Cash Flow Statements
84 Group Statement of Changes
in Equity
86 Notes
86 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
30
31
Trade receivables
Trade receivables amounting in total to € 2,543 million (2011: € 3,286 million) include € 46 million due later than one
year (2011: € 37 million).
in € million 31. 12. 2012 31. 12. 2011
Gross carrying amount 2,654 3,387
Allowance for impairment – 111 – 101
Net carrying amount 2,543 3,286
2012 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January* 95 7 102
Allocated / reversed 20 1 21
Utilised – 6 – 2 – 8
Exchange rate impact and other changes – 4 – – 4
Balance at 31 December 105 6 111
* including entities consolidated for the first time during the financial year
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
* 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
in € million 31. 12. 2012 31. 12. 2011
1 – 30 days overdue 139 140
31 – 60 days overdue 55 40
61 – 90 days overdue 22 22
91 – 120 days overdue 15 15
More than 120 days overdue 16 25
247 242
Receivables that are overdue by between one and 30 days
do not normally result in bad debt losses since the over-
due nature of the receivables is primarily attributable to
the timing of receipts around the month-end. In the
Cash and cash equivalents
Cash and cash equivalents of € 8,370 million (2011: € 7,776 million) comprise cash on hand and at bank, all with an
original term of up to three months.
Some trade receivables were overdue for which an impairment loss was not recognised. Overdue balances are
analysed
into the following time windows:
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.