Reebok 2007 Annual Report Download - page 169
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165
ANNUAL REPORT 2007 --- adidas Group
N
OTES TO THE CONSOLIDATED BALANCE SHEE
T
5 CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of cash at banks and on
hand as well as short-term bank deposits.
6 SHORT-TERM FINANCIAL ASSETS Short-term fi nancial assets are classifi ed at “fair value
through profi t or loss”. Changes in the fair value are recognized in the income statement as they
occur.
The majority of short-term fi nancial assets are marketable securities relating to money
market funds and structured deposits.
7 ACCOUNTS RECEIVABLE Accounts receivable consist mainly of the currencies US dollar,
euro, Japanese yen and British pound and are as follows:
D
ec.
3
1 Dec. 31
200
7 2006
Accounts receivable, gross
Less: allowance for doubtful accounts
Accounts rece
i
vable, ne
t
ACCOUNTS RECEIVABLE
€
in milli
o
n
s
1
,
570 1,527
111
112
1
,
459 1
,
41
5
Specifi c allowances on accounts receivable exist in the amount of € 38 million as at December 31,
2007.
2006
MOVEMENT IN ALLOWANCES FOR DOUBTFUL ACCOUNTS
€
in million
s
2
00
7
2007
2006
All
owances at
J
anuary
1
Additions
Additions – Reebok acquisition
Reversals
Write-offs charged against the allowance accounts
Currency translation differences
Other changes
A
llowances at December
31
112
81
7
8
62
—
58
(
64
)
(62)
(
10
)
(21)
(
4
)
(5)
(
1
)
(1)
111 112
past due past due past due past due past due more
1 – 30 days 31 – 60 days 61-90 days 91 – 180 days than 180 days
D
ec.
3
1, 2007
Dec. 31, 2006
ACCOUNTS RECEIVABLE PAST DUE BUT NOT IMPAIRED
€
in milli
o
n
s
166 64 15 1
2
6
164 55 12 12 10
With respect to accounts receivable past due but not impaired, based on credit history and cur-
rent credit ratings, there are no indications that customers will not be able to meet their obliga-
tions.
Further, no indications of default are recognizable for accounts receivable that are neither
past due nor impaired.
05