Lenovo 2013 Annual Report Download - page 165
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2012/13 Annual Report Lenovo Group Limited 163
24 Receivables
(a) Customers are generally granted credit term ranging from 0 to 120 days. Ageing analysis of trade receivables of the
Group at the balance sheet date, based on invoice date, is as follows:
Group
2013 2012
US$’000 US$’000
0 – 30 days 1,967,312 1,504,488
31 – 60 days 560,180 642,754
61 – 90 days 136,543 112,871
Over 90 days 257,924 124,193
2,921,959 2,384,306
Less: provision for impairment (36,920) (29,397)
Trade receivables – net 2,885,039 2,354,909
Trade receivables that are not past due are fully performing and not considered impaired.
At March 31, 2013, trade receivables, net of impairment, of US$331,457,000 (2012: US$282,766,000) were past due.
The ageing of these receivables, based on due date, is as follows:
Group
2013 2012
US$’000 US$’000
Within 30 days 221,310 232,556
31 – 60 days 42,559 23,741
61 – 90 days 37,395 7,634
Over 90 days 30,193 18,835
331,457 282,766
Movements on the provision for impairment of trade receivables are as follows:
Group
2013 2012
US$’000 US$’000
At beginning of the year 29,397 21,081
Exchange adjustment (649) (165)
Provisions made 23,527 24,163
Uncollectible receivables written off (9,261) (12,076)
Unused amounts reversed (13,653) (3,606)
Acquisition of subsidiaries 7,559 –
At the end of the year 36,920 29,397
(b) Notes receivable of the Group are bank accepted notes mainly with maturity dates of within six months.