Reebok 2012 Annual Report Download - page 233

adidas Group
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2012 Annual Report
Consolidated Financial Statements
211
2012
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04.8
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Notes
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Notes to the Consolidated Statement of Financial Position
The excess of the acquisition cost paid versus the net of the amounts of
the fair values assigned to all assets acquired and liabilities assumed,
taking into consideration the respective deferred taxes, was recognised
as goodwill. Any acquired asset that did not meet the identification and
recognition criteria for an asset was included in the amount recognised
as goodwill.
The goodwill arising on this acquisition was allocated to those
cash-generating units operating in the outdoor product segment at
the time of the acquisition. The goodwill is denominated in the local
functional currency
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SEE NOTE 02.
The acquired subsidiary generated net sales of € 1 million as well
as net losses of € 0 million for the period from November to December
2011. If this acquisition had occurred on January 1, 2011, total Group
net sales would have been € 13.3 billion (restated) and net income
attributable to shareholders would have been € 613 million (restated)
for the year ending December 31, 2011.
Notes to the Consolidated Statement
of Financial Position
05 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 equivalents
if they are readily convertible to a known amount of cash and are subject
to an insignificant risk of changes in value.
06 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 statement
as they occur.
The majority of short-term financial assets are marketable securities
relating to structured deposits.
07 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, 2012 Dec. 31, 2011 1)
Accounts receivable, gross 1,809 1,740
Less: accumulated allowances for
doubtful accounts (121) (145)
Accounts receivable, net 1,688 1,595
1) Restated according to IAS 8, see Note 03.
Movement in allowances for doubtful accounts (€ in millions)
2012 2011 1)
Allowances at January 1 145 122
Additions 48 80
Reversals (50) (37)
Write-offs charged against the allowance accounts (23) (17)
Currency translation differences (0) (3)
Other changes 1 0
Allowances at December 31 121 145
1) Restated according to IAS 8, see Note 03.
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, 2012 141 76 11 5 1
Dec. 31, 2011 1) 158 61 25 6 2
1) Restated according to IAS 8, see Note 03.
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 about credit risks
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SEE RISK AND OPPORTUNITY
REPORT, P. 164.