Chrysler 2010 Annual Report Download - page 204

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The amount of inventory write-downs recognised as an expense during 2010 is €489 million (€664 million in 2009). In 2010 this amount is included in
Continuing Operations for €432 million (€549 million in 2009) and in Discontinued Operations for €57 million (€115 million in 2009). Amounts recognised
as income from the reversal of write-downs on items sold during the year were not significant.
The majority of amount due from customers for contract work relates to the Production Systems sector and can be analysed as follows:
(€ million) At 31 December 2010 At 31 December 2009
Aggregate amount of costs incurred and recognised profits (less recognised losses) to date 1,233 1,056
Less: Progress billings (1,203) (1,058)
Construction contracts, net of advances on contract work 30 (2)
Gross amount due from customers for contract work as an asset 135 79
Less: Gross amount due to customers for contract work as a liability included in Other current liabilities (Note 28) (105) (81)
Construction contracts, net of advances on contract work 30 (2)
At 31 December 2010 and 2009, the amount of retentions by customers on contract work in progress was not significant.
19. Current receivables and Other current assets
The composition of the caption is as follows:
At 31 December 2010 At 31 December 2009
Continuing Discontinued
(€ million) Operations Operations Total Total
Trade receivables 2,259 1,791 4,050 3,649
Receivables from financing activities 2,866 10,908 13,774 12,695
Current tax receivables 353 552 905 674
Other current assets:
Other current receivables 1,410 776 2,186 2,529
Accrued income and prepaid expenses 118 158 276 249
Total Other current assets 1,528 934 2,462 2,778
Total Current receivables and Other current assets 7,006 14,185 21,191 19,796
The analysis by due date is as follows:
At 31 December 2010 At 31 December 2009
due between due due between due
due within one and beyond due within one and beyond
(€ million) one year five years five years Total one year five years five years Total
Continuing Operations
Trade receivables 2,209 50 - 2,259 3,573 73 3 3,649
Receivables from financing activities 2,080 764 22 2,866 8,002 4,428 265 12,695
Current tax receivables 243 28 82 353 540 37 97 674
Other current receivables 1,200 197 13 1,410 1,480 991 58 2,529
Total 5,732 1,039 117 6,888 13,595 5,529 423 19,547
Discontinued Operations
Trade receivables 1,771 20 - 1,791 - - - -
Receivables from financing activities 6,664 4,044 200 10,908 - - - -
Current tax receivables 539 10 3 552 - - - -
Other current receivables 479 279 18 776 - - - -
Total 9,453 4,353 221 14,027 - - - -
Total Current receivables 15,185 5,392 338 20,915 13,595 5,529 423 19,547