Food Lion 2011 Annual Report Download - page 107
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DELHAIZE GROUP FINANCIAL STATEMENTS ’11 // 105
14. Receivables
(in millions of EUR) 2011 2010 2009
Trade receivables
680
640
573
Trade receivables - bad debt allowance
(36)
(29)
(30)
Other receivables 62 26 54
Total current receivables
706
637
597
The aging of the current receivables is as follows:
(in millions of EUR)
December 31, 2011
Net Carrying
Amount
Neither
Impaired nor
Past Due on
the Reporting
Date
Past Due - Less
than 30 Days
Past Due -
Between 30
and 180 Days
Past
Due - More
than 180 Days
Trade receivables
680
504
100
49
27
Trade receivables - bad debt allowance
(36)
(6) (3) (11)
(16)
Other receivables 62 49 5 5 3
Total
706
547
102
43
14
(in millions of EUR)
December 31, 2010
Net Carrying
Amount
Neither
Impaired nor
Past Due on
the Reporting
Date
Past Due - Less
than 30 Days
Past Due -
Between 30
and 180 Days
Past
Due - More
than 180 Days
Trade receivables
640
521
71
29
19
Trade receivables - bad debt allowance
(29)
(2)
(3)
(9)
(15)
Other receivables 26 17 2 4 3
Total
637
536
70
24
7
(in millions of EUR)
December 31, 2009
Net Carrying
Amount
Neither
Impaired nor
Past Due on
the Reporting
Date
Past Due - Less
than 30 Days
Past Due -
Between 30
and 180 Days
Past
Due - More
than 180 Days
Trade receivables
573
455
45
54
19
Trade receivables - bad debt allowance
(30)
(2)
(2)
(7)
(19)
Other receivables 54 46 3 1 4
Total
597
499
46
48
4
Trade receivables credit risk is managed by the individual operating entities and credit rating is continuously monitored either
based on internal rating criteria or with the support of third party service providers and the requirement for an impairment is
analyzed at each reporting date on an individual basis for major positions. Additionally, minor receivables are grouped into
homogenous groups and assessed for impairment collectively based on past experience. The maximum exposure to risk for the
receivables is the carrying value minus any insurance coverage. The Group is not exposed to any concentrated credit risk as
there are no outstanding receivables that are individually material for the Group or the operating entity because of the Group’s
large and unrelated customer and vendor base. Management believes there is no further credit risk provision required in excess
of the normal individual and collective impairment analysis performed at each reporting date. The fair values of the trade and
other receivables equal their (net) carrying values.
Trade receivables are predominantly to be paid, in full, between 30 days and 60 days.