BMW 2013 Annual Report Download - page 130
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130
88 GROUP FINANCIAL STATEMENTS
88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122
Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information
31
32
Trade receivables
Trade receivables amounting in total to € 2,449 million (2012: € 2,543 million) include € 47 million due later than one
year (2012: € 46 million).
in € million 31. 12. 2013 31. 12. 2012
Gross carrying amount 2,555 2,654
Allowance for impairment – 106 – 111
Net carrying amount 2,449 2,543
2013 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January 105 6 111
Allocated / reversed 2 4 6
Utilised – 8 – – 8
Exchange rate impact and other changes – 2 – 1 – 3
Balance at 31 December 97 9 106
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.
Allowances on trade receivables developed as following during the year under report:
Allowance for impairment and credit risk
in € million 31. 12. 2013 31. 12. 2012
1 – 30 days overdue 80 139
31 – 60 days overdue 30 55
61 – 90 days overdue 8 22
91 – 120 days overdue 13 15
More than 120 days overdue 17 16
148 247
Receivables that are overdue by between one and
30 days do not normally result in bad debt losses since
the overdue nature of the receivables is primarily at-
tributable to the timing of receipts around the month-
Cash and cash equivalents
Cash and cash equivalents of € 7,664 million (2012: € 8,370 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:
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.