Xerox 2013 Annual Report Download - page 102

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The aging of our receivables portfolio is based upon the number of days an invoice is past due. Receivables that are
more than 90 days past due are considered delinquent. Receivable losses are charged against the allowance when
management believes the uncollectibility of the receivable is confirmed and is generally based on individual credit
evaluations, results of collection efforts and specific circumstances of the customer. Subsequent recoveries, if any, are
credited to the allowance.
We generally continue to maintain equipment on lease and provide services to customers that have invoices for finance
receivables that are 90 days or more past due and, as a result of the bundled nature of billings, we also continue to
accrue interest on those receivables. However, interest revenue for such billings is only recognized if collectability is
deemed reasonably assured. The aging of our billed finance receivables is as follows:
December 31, 2013
Current
31-90
Days
Past Due
>90 Days
Past Due Total Billed Unbilled
Total
Finance
Receivables
>90 Days
and
Accruing
Finance and other services $ 7 $ 2$ 1 $ 10 $ 315 $325 $ 12
Government and education 17 43 24 647 671 34
Graphic arts 12 1— 13 296 309 5
Industrial 311 5 130 135 6
Healthcare 31— 4 111 115 5
Other 31— 4 107 111 3
Total United States 45 10 5 60 1,606 1,666 65
Canada 433 10 411 421 19
France ————718 718 40
U.K./Ireland 11— 2 410 412 2
Central(1) 323 8 716 724 23
Southern(2) 21 57 33 314 347 45
Nordic(3) 2 — — 2 89 91 —
Total Europe 27 810 45 2,247 2,292 110
Other 81— 9 295 304 —
Total $ 84 $ 22 $ 18 $ 124 $4,559 $4,683 $194
December 31, 2012
Current
31-90
Days
Past Due
>90 Days
Past Due Total Billed Unbilled
Total
Finance
Receivables
>90 Days
and
Accruing
Finance and other services $ 12 $ 3$ 2 $ 17 $ 441 $458 $ 18
Government and education 21 53 29 740 769 42
Graphic arts 16 11 18 301 319 12
Industrial 5 21 8 155 163 6
Healthcare 6 21 9 151 160 9
Other 5 11 7 136 143 6
Total United States 65 14 9 88 1,924 2,012 93
Canada 232 7 794 801 30
France — 51 6 696 702 22
U.K./Ireland 2 — 2 4 416 420 2
Central(1) 324 9 807 816 30
Southern(2) 20 814 42 400 442 72
Nordic(3) 1 — — 1 93 94 —
Total Europe 26 15 21 62 2,412 2,474 126
Other 21— 3 191 194 —
Total $ 95 $ 33 $ 32 $ 160 $5,321 $5,481 $249
________________
(1) Switzerland, Germany, Austria, Belgium and Holland.
(2) Italy, Greece, Spain and Portugal.
(3) Sweden, Norway, Denmark and Finland.
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