Reebok 2008 Annual Report Download - page 171
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adidas Group Annual Report 2008 167
Notes to the Consolidated Balance Sheet
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 fi nancial assets
Short-term fi nancial assets are classifi ed at “fair value through profi t or loss”. Changes in the
fair value are recognised 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:
Accounts receivable
€ in millions
Dec. 31, 2008 Dec. 31, 2007
Accounts receivable, gross 1,743 1,570
Less: allowance for doubtful accounts 119 111
Accounts receivable, net 1,624 1,459
Movement in allowances for doubtful accounts
€ in millions
2008 2007
Allowances at January 1 111 112
Additions 49 78
Additions – Ashworth, Inc. acquisition 4 —
Reversals (22) (64)
Write-offs charged against the allowance accounts (21) (10)
Currency translation differences (2) (4)
Other changes 0 (1)
Allowances at December 31 119 111
Accounts receivable past due but not impaired
€ in millions
past due
1 – 30 days
past due
31 – 60 days
past due
61 – 90 days
past due
91 – 180 days
past due
more than
180 days
Dec. 31, 2008 163 77 20 10 10
Dec. 31, 2007 166 64 15 12 6
With respect to accounts receivable past due but not impaired, based on credit history and
current credit ratings, there are no indications that customers will not be able to meet their
obligations.
Further, no indications of default are recognisable for accounts receivable that are neither past
due nor impaired.