Reebok 2011 Annual Report Download - page 193

adidas Group
2011 Annual Report
CONSOLIDATED FINANCIAL STATEMENTS
189
2011
189
2011
04.8 Notes Notes to the Consolidated Statement of Financial Position
Notes to the Consolidated Statement
of Financial Position
04 Cash and cash equivalents
Cash and cash equivalents consist of cash at banks, cash on hand,
short-term bank deposits and investments in money market funds.
Short-term financial assets are only shown as cash and cash equiva-
lents if they are readily convertible to a known amount of cash and are
subject to an insignificant risk of changes in value.
05 Short-term financial assets
Short-term financial assets are classified at “fair value through profit
or loss”. Changes in the fair value are recognised in the income state-
ment as they occur.
The majority of short-term financial assets are marketable
securities relating to structured deposits.
06 Accounts receivable
Accounts receivable consist mainly of the currencies euro, US dollar
and Japanese yen and are as follows:
Accounts receivable (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Accounts receivable, gross 1,858 1,794
Less: accumulated allowances for
doubtful accounts 151 127
Accounts receivable, net 1,707 1,667
Movement in allowances for doubtful accounts
(€ in millions)
2011 2010
Allowances at January 1 127 124
Additions 81 50
Reversals (37) (31)
Write-offs charged against the allowance accounts (17) (23)
Currency translation differences (3) 7
Allowances at December 31 151 127
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
> 180 days
Dec. 31, 2011 158 70 29 6 2
Dec. 31, 2010 118 53 11 9 1
With respect to accounts receivable as at the balance sheet date
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.
For further information SEE RISK AND OPPORTUNITY REPORT, P. 145 .
07 Other current financial assets
Other current financial assets consist of the following:
Other current financial assets (€ in millions)
Dec. 31, 2011 Dec. 31, 2010
Currency options 26 34
Forward contracts 137 30
Security deposits 74 69
Other financial assets 67 64
Other current financial assets 304 197
Information in relation to currency options and forward contracts is
also included in these Notes SEE NOTE 28 .