Porsche 2009 Annual Report Download - page 196

196 Financials
The receivables from long-term development contracts of discontinued operations were calculated
as follows in the prior year:
The contracts and parts of contracts billed to customers in discontinued operations were
presented within trade receivables. No significant allowances were recognized for trade receivables
disclosed in the prior year.
[20] Non-current and current receivables from financial services
31/7/2010 31/7/2009
thereof
€ million
continuing
operations
Customer financing 0 33,203 0
Dealer financing 0 10,469 0
Direct banking 0 140 0
Receivables from financing business 0 43,812 0
Receivables from operating lease business 0 178 0
Receivables from finance leases 0 18,815 0
Valuation allowance 0 – 653 0
0 62,152 0
thereof non-current 0 34,520 0
thereof current 0 27,632 0
Due to the deconsolidation of the discontinued operations there are no receivables from fi-
nancial services as of the reporting date. The non-current receivables from financial services of
discontinued operations were generally subject to fixed interest rates of between 1.5% and 18.9%
in the prior year, depending on the market. Unguaranteed residual values accruing to the benefit of
the Porsche SE group’s discontinued operations amounted to €27 million.
Discontinued
operations
€ million 31/7/2009
Costs of conversion including outcome
of the long-term development contracts 132
thereof services billed to customers – 17
Future receivables from long-term development contracts before advance payments received 115
Advance payments received – 107
8