Lenovo 2015 Annual Report Download - page 188

186 Lenovo Group Limited 2014/15 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
22 INVENTORIES
2015 2014
US$’000 US$’000
Raw materials and work-in-progress 1,387,082 1,222,589
Finished goods 1,212,009 1,263,341
Service parts 396,298 215,085
2,995,389 2,701,015
23 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:
2015 2014
US$’000 US$’000
0 – 30 days 3,669,635 2,206,799
31 – 60 days 881,449 601,499
61 – 90 days 320,591 181,916
Over 90 days 426,267 220,754
5,297,942 3,210,968
Less: provision for impairment (120,102) (39,614)
Trade receivables – net 5,177,840 3,171,354
Trade receivables that are not past due are fully performing and not considered impaired.
At March 31, 2015, trade receivables, net of impairment, of US$841,001,000 (2014: US$371,549,000) were past due.
The ageing of these receivables, based on due date, is as follows:
2015 2014
US$’000 US$’000
Within 30 days 465,918 186,913
31 – 60 days 192,276 82,652
61 – 90 days 68,599 45,306
Over 90 days 114,208 56,678
841,001 371,549
Movements in the provision for impairment of trade receivables are as follows:
2015 2014
US$’000 US$’000
At beginning of the year 39,614 36,920
Exchange adjustment 777 342
Provisions made 37,359 22,000
Uncollectible receivables written off (7,475) (244)
Unused amounts reversed (18,668) (20,675)
Acquisition of businesses/subsidiaries 68,495 1,271
At the end of the year 120,102 39,614
(b) Notes receivable of the Group are bank accepted notes mainly with maturity dates of within six months.