Mercedes 1999 Annual Report Download - page 96

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NOTES TO THE CONSOLIDATED BALANCE SHEETS
90
14. RECEIVABLES FROM FINANCIAL SERVICES
1998
At December 31,
Receivables from:
Sales financing
Finance leases
Initial direct costs
Unearned income
Unguaranteed residual value of leased assets
Allowance for doubtful accounts
32,696 20,635
11,440 9,542
44,136 30,177
143 96
(5,977) (4,245)
1,032 804
39,334 26,832
(599) (364)
38,735 26,468
1999
As of December 31, 1999, €21,194 of the financing receivables ma-
ture after more than one year (1998: €14,733).
Sales financing and finance lease receivables consist of retail in-
stallment sales contracts secured by automobiles and commercial
vehicles. Contractual maturities applicable to receivables from
sales financing and finance leases in each of the years following
December 31, 1999 are as follows:
2000
2001
2002
2003
2004
thereafter
20,184
8,043
5,935
3,568
2,166
4,240
44,136
Actual cash flows will vary from contractual maturities due to fu-
ture sales of finance receivables, prepayments and charge-offs.
In the normal course of business, the Group sells to third parties
certain of its receivables from financial services. In 1999, the
Group sold financial receivables for proceeds of €51,843 (1998:
€40,950; 1997: €44,336).
15. OTHER RECEIVABLES
1998
At December 31,
Receivables from affiliated companies
Receivables from related companies1)
Other receivables and other assets
Allowance for doubtful accounts
850 480
1,250 804
11,598 10,740
13,698 12,024
(1,127) (1,249)
12,571 10,775
1999
1) Related companies include entities which have a significant ownership in
DaimlerChrysler or entities in which the Group holds a significant
investment.
Other receivables and other assets include retained interests in
sold receivables and subordinated asset backed certificates of
€4,006 (1998: €3,046).
As of December 31, 1999, €3,390 of the other receivables mature
after more than one year (1998: €4,199).
16. SECURITIES, INVESTMENTS AND LONG-TERM
FINANCIAL ASSETS
Information with respect to the Group’s investments and long-term
financial assets is presented in the Consolidated Fixed Assets
Schedule included herein. Securities included in non-fixed assets
are comprised of the following:
1998
At December 31,
Debt securities
Equity securities
Equity-based funds
Debt-based funds
4,347 4,565
938 971
1,191 1,970
2,493 4,654
8,969 12,160
1999