Lenovo 2016 Annual Report Download - page 219

217
2015/16 Annual Report Lenovo Group Limited
23 RECEIVABLES (continued)
(a) (continued)
Trade receivables that are not past due are fully performing and not considered impaired.
At March 31, 2016, trade receivables, net of impairment, of US$739,074,000 (2015: US$880,901,000) were past
due. The ageing of these receivables, based on due date, is as follows:
2016
US$’000
2015
US$’000
Within 30 days 443,507 465,918
31 – 60 days 126,597 192,276
61 – 90 days 68,293 68,599
Over 90 days 100,677 154,108
739,074 880,901
Movements in the provision for impairment of trade receivables are as follows:
2016
US$’000
2015
US$’000
At beginning of the year 80,705 39,614
Exchange adjustment 3777
Provisions made 46,955 45,782
Uncollectible receivables written off (7,708)(7,475)
Unused amounts reversed (13,783)(18,668)
Acquisition of businesses –20,675
At the end of the year 106,172 80,705
(b) Notes receivable of the Group are bank accepted notes mainly with maturity dates within six months.
(c) Details of deposits, prepayments and other receivables are as follows:
2016
US$’000
2015
US$’000
Deposits 13,207 3,481
Other receivables 2,811,260 2,403,138
Prepayments 724,293 1,245,883
3,548,760 3,652,502
Note: Majority of other receivables of the Group are amounts due from subcontractors for part components sold in the
ordinary course of business.
(d) The carrying amounts of trade, notes, deposits and other receivables approximate their fair values. The
maximum exposure to credit risk at the balance sheet date is the fair value of each class of receivable
mentioned above. The Group’s receivables in the amount of US$2 million (2015: US$54 million) are held as
collateral for short-term loans obtained.