Airbus 2015 Annual Report Download - page 222

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 40 l
Notes to the IFRSConsolidatedFinancialStatements
2.5 Operational Assets andLiabilities
Trade Receivables
(In € million)
31December
2015 2014
Receivables from sales of goods and services 8,153 7,087
Allowance for doubtful accounts (276) (289)
Total 7, 877 6,798
Thereof trade receivable not expected to be collected within 1 year 1,819 2,224
The trade receivables increased by €+1,079million, mainly in
Airbus Defence and Space.
In application of the PoC method, as of 31December 2015
an amount of € 2,936 million (in 2014: € 1,941 million) for
construction contracts is included in the trade receivables net
of related advance payments received.
The aggregate amount of costs incurred and recognised
profits (less recognised losses) to date amounts to
€ 71,813million (in 2014: € 68,543million).
The gross amount due from customers for contract work,
on construction contracts recognised under the PoC method,
is the net amount of costs incurred plus recognised profits less
the sum of recognised losses and progress billings. In 2015, it
amounts to € 9,190million (in 2014: € 3,828million). Due to the
nature of certain contracts and the respective recognition of
revenues, these incurred costs also include associated work
in progress and respective contract losses.
The gross amount due to customers for contract work on
construction contracts recognised under the PoC method, is
the net amount of costs incurred plus recognised profits less the
sum of recognised losses and progress billings for all contracts
in progress for which progress billings exceed costs incurred
plus recognised profits (less recognised losses). In 2015, the
gross amount due to customers amounts to € 77million (in
2014: € 2,535million).
The respective movement in the allowance for doubtful accounts in respect of trade receivables during the year was as follows:
(In € million) 2015 2014
Allowance balance at 1January (289) (314)
Foreign currency translation adjustment 0(1)
Utilisations/ disposals 15 34
(Additions) (2) (8)
31December (276) (289)
Based on historic default rates, the Group believes that no allowance for doubtful accounts is necessary in respect of trade
receivables not past due in the amount of € 5,373million (in 2014: € 4,917million).
Trade Liabilities
As of 31December 2015, trade liabilities amounting to € 129million (€ 280million as of 31December 2014) will mature after more
than one year.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015