Mercedes 2008 Annual Report Download - page 181

Consolidated Financial Statements |Notes to Consolidated Financial Statements |177
Credit risks. The following chart gives an overview of credit risks
included in trade receivables:
Receivables not subject to an individual impairment assessment
are grouped and subject to collective impairment allowances to
cover credit losses.
The carrying amount of trade receivables, of which the terms
have been renegotiated and that would otherwise be past due or
impaired as of December 31, 2008 was €73 million.
Further information on financial risk and nature of risks is provid-
ed in Note 30.
Sale of receivables. Based on market conditions and liquidity
needs, Daimler may sell portfolios of trade receivables to third
parties. At the time of the sale, Daimler determines whether
the legally transferred receivables meet the criteria for derecog-
nition in conformity with the appropriate provisions. If the cri-
teria are not met, the receivables are continued to be recognized
in the Group’s consolidated balance sheets.
As of December 31, 2008, the carrying amount of trade receiv-
ables sold, but not derecognized for accounting purposes amount-
ed to €67 million (2007: €226 million). For information on the lia-
bilities related to sold but not derecognized receivables, see
Note 23. These receivables are pledged as collateral for the relat-
ed financial liabilities.
18. Assets and liabilities held for sale (Potsdamer Platz)
On December 13, 2007, the Supervisory Board of Daimler AG
approved the sale of real estate properties at Potsdamer Platz
to the SEB Group. For further information see Note 2.
In the consolidated balance sheet as of December 31, 2007
the assets and liabilities of Potsdamer Platz are presented sep-
arately as assets and liabilities held for sale. The assets and lia-
bilities held for sale are comprised on a consolidated basis
of the following:
19. Equity
See also the consolidated statements of changes in equity.
The capital stock is allocated into no-par value shares. All shares
are fully paid up. Each share grants one vote at the Annual Meet-
ing of Daimler AG and an equal portion of the profits as defined by
the dividend distribution resolved at the Annual Meeting.
20072008
1,014
–
(50)
964
(37)
927
1,028
36
(50)
1,014
–
1,014
in millions of shares
Shares outstanding on January 1
Creation of new shares by exercise of stock options
Reacquired and cancelled shares
(share buy back program)
Shares issued on December 31
Reacquired shares not cancelled
(share buy back program)
Shares outstanding on December 31
At December 31,
2007
2008
4,947
660
174
62
54
226
1,176
876
6,999
4,501
589
121
51
68
57
886
974
6,361
Receivables, neither past due nor impaired individually
Receivables past due, not impaired individually
less than 30 days
30 to 59 days
60 to 89 days
90 to 119 days
120 days or more
Total
Receivables impaired individually
Carrying amount, net
in millions of €
December 31,
2007
920
2
922
26
Assets held for sale
Property, plant and equipment
Other assets
Liabilities held for sale
Provisions for other risks and other liabilities
Amounts in millions of €